Zacks Investment Research upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a buy rating in a research report report published on Tuesday, April 10th. The firm currently has $52.00 target price on the bank’s stock.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
FFIN has been the topic of a number of other research reports. BidaskClub raised shares of First Financial Bankshares from a hold rating to a buy rating in a research note on Friday, March 9th. ValuEngine raised shares of First Financial Bankshares from a hold rating to a buy rating in a research note on Monday, April 2nd. Hovde Group set a $46.00 price target on shares of First Financial Bankshares and gave the company a hold rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $47.00 price target on shares of First Financial Bankshares in a research note on Tuesday, February 27th. Finally, SunTrust Banks reaffirmed a hold rating and set a $48.00 price target on shares of First Financial Bankshares in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. First Financial Bankshares has a consensus rating of Hold and an average price target of $44.71.
Shares of NASDAQ:FFIN opened at $49.45 on Tuesday. First Financial Bankshares has a fifty-two week low of $37.31 and a fifty-two week high of $49.60. The firm has a market cap of $3,280.77, a P/E ratio of 27.74 and a beta of 1.27.
First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, April 19th. The bank reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. First Financial Bankshares had a net margin of 36.61% and a return on equity of 12.85%. The firm had revenue of $89.87 million during the quarter, compared to analyst estimates of $89.40 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. analysts expect that First Financial Bankshares will post 2.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Thursday, March 15th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Wednesday, March 14th. First Financial Bankshares’s payout ratio is 44.71%.
In other news, Director Steven L. Beal sold 15,973 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $47.37, for a total value of $756,641.01. Following the sale, the director now owns 1,465 shares of the company’s stock, valued at $69,397.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Johnny Trotter bought 11,400 shares of First Financial Bankshares stock in a transaction dated Tuesday, February 6th. The stock was purchased at an average cost of $45.10 per share, for a total transaction of $514,140.00. Following the purchase, the director now owns 388,938 shares of the company’s stock, valued at approximately $17,541,103.80. The disclosure for this purchase can be found here. Corporate insiders own 4.77% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of First Financial Bankshares in the fourth quarter valued at $218,000. CIBC Asset Management Inc bought a new position in shares of First Financial Bankshares in the fourth quarter worth about $233,000. Xact Kapitalforvaltning AB bought a new position in shares of First Financial Bankshares in the fourth quarter worth about $235,000. Envestnet Asset Management Inc. grew its holdings in shares of First Financial Bankshares by 44.8% in the third quarter. Envestnet Asset Management Inc. now owns 8,641 shares of the bank’s stock worth $391,000 after purchasing an additional 2,675 shares during the last quarter. Finally, Meadow Creek Investment Management LLC grew its holdings in shares of First Financial Bankshares by 33.2% in the fourth quarter. Meadow Creek Investment Management LLC now owns 9,146 shares of the bank’s stock worth $412,000 after purchasing an additional 2,278 shares during the last quarter. 50.97% of the stock is currently owned by institutional investors and hedge funds.
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About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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