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

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) have been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $35.80.

Several equities analysts have weighed in on FFIN shares. Benchmark initiated coverage on First Financial Bankshares in a research report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price target for the company. Hovde Group assumed coverage on First Financial Bankshares in a research note on Friday, September 11th. They set a “market perform” rating and a $36.00 price objective 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. Piper Sandler initiated coverage on shares of First Financial Bankshares in a research note on Thursday, August 27th. They issued a “neutral” rating and a $35.00 target price for the company. Finally, Cantor Fitzgerald reissued 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.

First Financial Bankshares Price Performance

FFIN stock opened at $32.15 on Friday. The company’s 50 day simple moving average is $33.66 and its 200-day simple moving average is $32.86. The firm has a market capitalization of $4.61 billion, a PE ratio of 17.19 and a beta of 0.82. First Financial Bankshares has a 12 month low of $28.11 and a 12 month high of $36.52.

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 the consensus estimate of $0.50. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.The firm had revenue of $172.76 million during the quarter, compared to the consensus estimate of $173.03 million. During the same period in the previous year, the firm posted $0.47 EPS. As a group, sell-side analysts anticipate that First Financial Bankshares will post 2.04 earnings per share for the current year.

First Financial Bankshares Announces Dividend

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

Insider Buying and Selling

In other news, Director Michael Denny acquired 3,000 shares of First Financial Bankshares stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average price of $34.66 per share, with a total value of $103,980.00. Following the completion of the purchase, the director owned 6,500 shares of the company’s stock, valued at approximately $225,290. This represents a 85.71% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ronald David Butler II sold 15,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer owned 152,223 shares in the company, valued at approximately $5,320,193.85. This trade represents a 8.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Versant Capital Management Inc raised its holdings in shares of First Financial Bankshares by 8.4% during the 2nd quarter. Versant Capital Management Inc now owns 3,824 shares of the bank’s stock valued at $132,000 after buying an additional 295 shares during the period. Smart Money Group LLC lifted its position in First Financial Bankshares by 0.4% during the 1st quarter. Smart Money Group LLC now owns 80,245 shares of the bank’s stock worth $2,363,000 after acquiring an additional 354 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in First Financial Bankshares by 2.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 13,147 shares of the bank’s stock worth $393,000 after acquiring an additional 356 shares during the period. State of Michigan Retirement System boosted its holdings in First Financial Bankshares by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 31,363 shares of the bank’s stock worth $924,000 after acquiring an additional 600 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in First Financial Bankshares by 2.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 26,751 shares of the bank’s stock valued at $788,000 after acquiring an additional 700 shares in the last quarter. 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.