First Financial Bankshares, Inc. (NASDAQ:FFIN) Receives Average Rating of “Hold” from Brokerages

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) have been assigned an average recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $37.3333.

A number of equities analysts recently commented on FFIN shares. Keefe, Bruyette & Woods lowered their price target on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a research report on Wednesday, April 8th. Finally, Benchmark began coverage on shares of First Financial Bankshares in a report on Wednesday. They set a “buy” rating on the stock.

First Financial Bankshares Stock Up 1.6%

Shares of NASDAQ FFIN traded up $0.54 during mid-day trading on Wednesday, reaching $34.04. 1,127,677 shares of the company were exchanged, compared to its average volume of 815,200. The company’s 50-day simple moving average is $32.31 and its 200-day simple moving average is $31.70. The stock has a market capitalization of $4.88 billion, a P/E ratio of 18.50 and a beta of 0.83. First Financial Bankshares has a twelve month low of $28.11 and a twelve month high of $38.74.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Friday, April 17th. The bank reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. First Financial Bankshares had a net margin of 31.00% and a return on equity of 14.20%. The business had revenue of $166.89 million for the quarter, compared to analyst estimates of $166.78 million. During the same period last year, the firm earned $0.43 earnings per share. As a group, equities research analysts expect that First Financial Bankshares will post 2.04 EPS for the current year.

First Financial Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be given a $0.22 dividend. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, June 12th. This represents a $0.88 annualized dividend and a yield of 2.6%. First Financial Bankshares’s dividend payout ratio is currently 47.83%.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Murray Hamilton Edwards purchased 1,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $33.18 per share, for a total transaction of $33,180.00. Following the transaction, the director owned 44,634 shares in the company, valued at $1,480,956.12. The trade was a 2.29% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On First Financial Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC acquired a new position in shares of First Financial Bankshares in the 1st quarter worth approximately $208,000. S&A Financial Services Inc. acquired a new position in shares of First Financial Bankshares in the 1st quarter worth approximately $352,000. Parallel Advisors LLC lifted its position in shares of First Financial Bankshares by 83.5% in the 1st quarter. Parallel Advisors LLC now owns 1,885 shares of the bank’s stock worth $56,000 after purchasing an additional 858 shares during the period. Smith Group Asset Management LLC acquired a new position in shares of First Financial Bankshares in the 1st quarter worth approximately $210,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of First Financial Bankshares by 48.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,164 shares of the bank’s stock worth $93,000 after purchasing an additional 1,031 shares during the period. 69.78% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.