First Financial Bankshares, Inc. (NASDAQ:FFIN) Receives $36.40 Consensus Price Target from Analysts

First Financial Bankshares, Inc. (NASDAQ:FFIN) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $35.80.

A number of equities research analysts have recently issued reports on FFIN shares. Hovde Group started coverage on shares of First Financial Bankshares in a research note on Friday. They issued a “market perform” rating and a $36.00 price target on the stock. Weiss Ratings upgraded shares of First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Piper Sandler began coverage on First Financial Bankshares in a research report on Thursday, August 27th. They issued a “neutral” rating and a $35.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th. Finally, Benchmark initiated coverage on First Financial Bankshares in a research note on Wednesday, June 24th. They set a “buy” rating and a $39.00 price target on the stock.

Insider Activity

In related news, CAO Ronald David Butler II sold 15,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.95, for a total transaction of $524,250.00. Following the completion of the transaction, the chief accounting officer directly owned 152,223 shares in the company, valued at $5,320,193.85. This trade represents 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 Denny bought 3,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was purchased at an average cost of $34.66 per share, with a total value of $103,980.00. Following the completion of the transaction, the director owned 6,500 shares in the company, valued at $225,290. This represents a 85.71% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Financial Bankshares

Hedge funds have recently added to or reduced their stakes in the business. Core Capital Management & Research inc. purchased a new position in First Financial Bankshares in the 2nd quarter valued at approximately $1,381,000. Tidal Investments LLC increased its position in shares of First Financial Bankshares by 52.8% during the second quarter. Tidal Investments LLC now owns 18,580 shares of the bank’s stock worth $643,000 after acquiring an additional 6,424 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of First Financial Bankshares in the second quarter valued at $107,000. IFP Advisors Inc raised its stake in shares of First Financial Bankshares by 1,708.2% in the second quarter. IFP Advisors Inc now owns 1,754 shares of the bank’s stock valued at $61,000 after acquiring an additional 1,657 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in First Financial Bankshares by 27.0% in the second quarter. Allworth Financial LP now owns 8,369 shares of the bank’s stock valued at $290,000 after purchasing an additional 1,779 shares during the period. 69.78% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $33.16 on Monday. The business has a 50-day moving average price of $34.37 and a 200 day moving average price of $32.67. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 17.73 and a beta of 0.81. First Financial Bankshares has a 12-month low of $28.11 and a 12-month high of $36.52.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Friday, July 17th. The bank reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The company had revenue of $172.76 million for the quarter, compared to analysts’ expectations of $173.03 million. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. During the same quarter in the prior year, the company posted $0.47 earnings per share. As a group, equities research analysts predict that First Financial Bankshares will post 2.05 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, September 14th. First Financial Bankshares’s payout ratio is currently 47.06%.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene. Its principal subsidiary, First Financial Bank, provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations through a network of locations across Texas.

The company offers consumer and commercial deposit accounts, business and personal loans, mortgage lending, treasury and cash-management services, and online and mobile banking.