Analysts Set First Financial Bankshares, Inc. (NASDAQ:FFIN) Price Target at $36.40

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $35.80.

FFIN has been the topic of several analyst reports. Weiss Ratings upgraded First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Hovde Group initiated coverage on First Financial Bankshares in a research note on Friday. They set a “market perform” rating and a $36.00 price objective for the company. Benchmark initiated coverage on shares of First Financial Bankshares in a report on Wednesday, June 24th. They issued a “buy” rating and a $39.00 target price for the company. Piper Sandler assumed coverage on shares of First Financial Bankshares in a report on Thursday, August 27th. They issued a “neutral” rating and a $35.00 target price for the company. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research note on Wednesday, July 15th.

First Financial Bankshares Trading Up 0.3%

Shares of FFIN stock opened at $33.16 on Monday. First Financial Bankshares has a 12 month low of $28.11 and a 12 month high of $36.52. The stock has a market cap of $4.75 billion, a P/E ratio of 17.73 and a beta of 0.81. The company has a 50 day simple moving average of $34.37 and a two-hundred day simple moving average of $32.67.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Friday, July 17th. The bank reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The business 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 last year, the company posted $0.47 EPS. As a group, equities analysts forecast that First Financial Bankshares will post 2.05 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

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

Insider Buying and Selling at First Financial Bankshares

In other news, Director Michael Denny bought 3,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average price of $34.66 per share, for a total transaction of $103,980.00. Following the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Ronald David Butler II sold 15,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $5,320,193.85. This represents a 8.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Financial Bankshares

A number of hedge funds have recently made changes to their positions in the business. Core Capital Management & Research inc. bought a new stake in First Financial Bankshares during the 2nd quarter valued at approximately $1,381,000. Tidal Investments LLC boosted its stake in First Financial Bankshares by 52.8% in the 2nd quarter. Tidal Investments LLC now owns 18,580 shares of the bank’s stock worth $643,000 after purchasing an additional 6,424 shares during the period. Integrated Wealth Concepts LLC bought a new position in First Financial Bankshares in the 2nd quarter worth approximately $107,000. IFP Advisors Inc grew its holdings in First Financial Bankshares by 1,708.2% during the 2nd quarter. IFP Advisors Inc now owns 1,754 shares of the bank’s stock valued at $61,000 after buying an additional 1,657 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in First Financial Bankshares by 27.0% during the 2nd quarter. Allworth Financial LP now owns 8,369 shares of the bank’s stock valued at $290,000 after buying an additional 1,779 shares in the last quarter. Institutional investors own 69.78% of the company’s stock.

About First Financial Bankshares

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.