First Financial Bankshares, Inc. (NASDAQ:FFIN) Receives $37.33 Consensus Target Price from Brokerages

First Financial Bankshares, Inc. (NASDAQ:FFIN) has been given a consensus rating of “Moderate Buy” by the five brokerages that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $37.75.

A number of brokerages recently weighed in on FFIN. Benchmark began coverage on shares of First Financial Bankshares in a research note on Wednesday, June 24th. They set a “buy” rating and a $39.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of First Financial Bankshares in a research note on Wednesday, April 8th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research note on Thursday, April 9th.

Insiders Place Their Bets

In other news, Director Murray Hamilton Edwards bought 1,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $33.18 per share, with a total value of $33,180.00. Following the completion of the purchase, the director directly owned 44,634 shares of the company’s stock, valued at approximately $1,480,956.12. This represents a 2.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Financial Bankshares

Several institutional investors have recently made changes to their positions in FFIN. SG Americas Securities LLC grew its position in First Financial Bankshares by 3,204.2% in the 4th quarter. SG Americas Securities LLC now owns 417,192 shares of the bank’s stock worth $12,462,000 after purchasing an additional 404,566 shares in the last quarter. Waterloo Capital L.P. grew its position in First Financial Bankshares by 978.4% in the 4th quarter. Waterloo Capital L.P. now owns 68,899 shares of the bank’s stock worth $2,058,000 after purchasing an additional 62,510 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in First Financial Bankshares by 3,042,660.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank’s stock worth $642,573,000 after purchasing an additional 21,511,608 shares in the last quarter. Jefferies Financial Group Inc. grew its position in First Financial Bankshares by 283.7% in the 4th quarter. Jefferies Financial Group Inc. now owns 112,781 shares of the bank’s stock worth $3,369,000 after purchasing an additional 83,385 shares in the last quarter. Finally, Phocas Financial Corp. bought a new stake in First Financial Bankshares in the 4th quarter worth about $3,515,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $34.60 on Wednesday. First Financial Bankshares has a 52 week low of $28.11 and a 52 week high of $38.74. The firm’s fifty day moving average is $32.63 and its 200-day moving average is $31.82. The firm has a market cap of $4.96 billion, a PE ratio of 18.80 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Friday, April 17th. The bank reported $0.50 earnings per share 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 during the quarter, compared to the consensus estimate of $166.78 million. During the same quarter last year, the firm earned $0.43 earnings per share. Sell-side analysts forecast that First Financial Bankshares will post 2.04 EPS for the current year.

First Financial Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a dividend of $0.22 per share. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, June 12th. First Financial Bankshares’s payout ratio is 47.83%.

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.