First Financial Bankshares (NASDAQ:FFIN) Stock Gets Price Target Trim from Piper Sandler

First Financial Bankshares (NASDAQ:FFIN) had its price target lowered by Piper Sandler from $35.00 to $33.00 in a research note released on Monday, Marketbeat reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Several other research firms have also recently commented on FFIN. Hovde Group started coverage on shares of First Financial Bankshares in a report on Friday, September 11th. They set a “market perform” rating and a $36.00 price target for the company. Raymond James Financial began coverage on shares of First Financial Bankshares in a report on Wednesday, October 14th. They issued a “market perform” rating on the stock. Weiss Ratings lowered shares of First Financial Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 25th. Cantor Fitzgerald decreased their price objective on shares of First Financial Bankshares from $35.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th. Finally, Seaport Research Partners raised shares of First Financial Bankshares to a “buy” rating in a research report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.20.

First Financial Bankshares Stock Performance

Shares of FFIN opened at $29.77 on Monday. First Financial Bankshares has a 1 year low of $28.11 and a 1 year high of $36.52. The stock has a market capitalization of $4.27 billion, a PE ratio of 14.67 and a beta of 0.82. The stock has a 50-day simple moving average of $32.61 and a 200-day simple moving average of $33.01.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, October 15th. The bank reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $174.14 million for the quarter, compared to analyst estimates of $178.63 million. First Financial Bankshares had a net margin of 33.16% and a return on equity of 14.91%. During the same period in the prior year, the firm earned $0.36 earnings per share. Analysts predict that First Financial Bankshares will post 2.05 EPS for the current year.

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, September 14th. First Financial Bankshares’s dividend payout ratio is presently 43.35%.

Insider Activity at First Financial Bankshares

In other news, CAO Ronald David Butler II sold 15,000 shares of First Financial Bankshares stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.95, for a total value of $524,250.00. Following the transaction, the chief accounting officer directly owned 152,223 shares of the company’s stock, valued at $5,320,193.85. The trade was a 8.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael B. Denny bought 3,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average cost of $34.66 per share, for a total transaction of $103,980.00. Following the completion of the acquisition, the director directly owned 6,500 shares in the company, valued at approximately $225,290. This trade represents a 85.71% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of First Financial Bankshares

Large investors have recently bought and sold shares of the business. Excelsior Advisor Network LLC purchased a new position in First Financial Bankshares during the 1st quarter worth $6,903,000. Dimensional Fund Advisors LP raised its holdings in shares of First Financial Bankshares by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,760,965 shares of the bank’s stock valued at $81,309,000 after buying an additional 45,052 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of First Financial Bankshares in the second quarter valued at about $1,466,000. Sei Investments Co. boosted its stake in shares of First Financial Bankshares by 60.0% during the first quarter. Sei Investments Co. now owns 112,380 shares of the bank’s stock worth $3,309,000 after buying an additional 42,138 shares during the period. Finally, Core Capital Management & Research inc. acquired a new stake in shares of First Financial Bankshares during the second quarter worth about $1,381,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene, Texas. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations. The bank traces its roots to 1890 and has grown through expansion and acquisitions into a regional banking organization serving communities across Texas.

First Financial Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts.