First Financial Bankshares, Inc. (NASDAQ:FFIN) Stock Has Consensus Target Price of $35.80 According to Analysts

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) have earned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $35.80.

A number of brokerages have recently weighed in on FFIN. Cantor Fitzgerald restated a “neutral” rating and issued a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research note on Wednesday, July 15th. Hovde Group assumed coverage on First Financial Bankshares in a research report on Friday, September 11th. They set a “market perform” rating and a $36.00 price target for the company. Benchmark initiated coverage on First Financial Bankshares in a report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price target on the stock. Weiss Ratings cut First Financial Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Finally, Piper Sandler started coverage on First Financial Bankshares in a research note on Thursday, August 27th. They issued a “neutral” rating and a $35.00 price objective for the company.

First Financial Bankshares Price Performance

FFIN opened at $31.92 on Friday. The company’s 50-day moving average is $33.55 and its 200 day moving average is $32.90. First Financial Bankshares has a fifty-two week low of $28.11 and a fifty-two week high of $36.52. The firm has a market capitalization of $4.57 billion, a P/E ratio of 17.07 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Friday, July 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.50. The business had revenue of $172.76 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.47 EPS. On average, equities research analysts expect that First Financial Bankshares will post 2.04 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Monday, September 14th. First Financial Bankshares’s payout ratio is presently 47.06%.

Insider Transactions at First Financial Bankshares

In related news, Director Michael Denny purchased 3,000 shares of First Financial Bankshares stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average price of $34.66 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Ronald David Butler II sold 15,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.95, for a total transaction of $524,250.00. Following the transaction, the chief accounting officer owned 152,223 shares of the company’s stock, valued at approximately $5,320,193.85. The trade was a 8.97% decrease in their position. The SEC filing for this sale provides additional information. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Financial Bankshares

Several large investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new position in First Financial Bankshares during the fourth quarter valued at $44,000. 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 buying an additional 1,657 shares during the period. Parallel Advisors LLC raised its stake in shares of First Financial Bankshares by 83.5% in the first quarter. Parallel Advisors LLC now owns 1,885 shares of the bank’s stock valued at $56,000 after buying an additional 858 shares during the period. Harbor Investment Advisory LLC purchased a new position in shares of First Financial Bankshares during the 2nd quarter valued at $87,000. Finally, Nykredit A S purchased a new position in shares of First Financial Bankshares during the 2nd quarter valued at $97,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, online and mobile banking, and other deposit products. The company also provides trust, wealth-management and investment-related services through affiliated operations.

First Financial Bankshares traces its history to 1890 and serves communities across Texas through a network of banking locations.