Zacks Investment Research upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $61.00 price objective on the bank’s stock.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
A number of other brokerages also recently weighed in on FFIN. BidaskClub downgraded shares of First Financial Bankshares from a buy rating to a hold rating in a research report on Wednesday, June 13th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $47.00 price objective on shares of First Financial Bankshares in a research report on Tuesday, February 27th. Finally, ValuEngine raised shares of First Financial Bankshares from a hold rating to a buy rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $46.00.
Shares of NASDAQ:FFIN opened at $54.00 on Wednesday. First Financial Bankshares has a fifty-two week low of $37.31 and a fifty-two week high of $56.35. The stock has a market cap of $3.66 billion, a P/E ratio of 31.76 and a beta of 1.25.
First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, April 19th. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. First Financial Bankshares had a net margin of 36.61% and a return on equity of 12.63%. The business had revenue of $89.87 million during the quarter, compared to the consensus estimate of $89.40 million. During the same quarter in the prior year, the firm earned $0.40 EPS. research analysts expect that First Financial Bankshares will post 2.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be given a $0.21 dividend. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.84 annualized dividend and a yield of 1.56%. First Financial Bankshares’s dividend payout ratio is 49.41%.
In other First Financial Bankshares news, Director David L. Copeland sold 7,362 shares of the company’s stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $50.68, for a total value of $373,106.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Johnny Trotter bought 1,000 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was purchased at an average price of $53.43 per share, with a total value of $53,430.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 1,203 shares of company stock valued at $64,087. 4.77% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in First Financial Bankshares by 3.2% in the 1st quarter. BlackRock Inc. now owns 8,591,007 shares of the bank’s stock worth $397,764,000 after purchasing an additional 267,863 shares during the last quarter. Goldman Sachs Group Inc. grew its position in First Financial Bankshares by 5.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,622,258 shares of the bank’s stock worth $73,083,000 after purchasing an additional 87,580 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in First Financial Bankshares by 3.6% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,482,163 shares of the bank’s stock worth $68,625,000 after purchasing an additional 51,583 shares during the last quarter. Dimensional Fund Advisors LP grew its position in First Financial Bankshares by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,208,642 shares of the bank’s stock worth $55,960,000 after purchasing an additional 29,367 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in First Financial Bankshares by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,177,634 shares of the bank’s stock worth $53,052,000 after purchasing an additional 32,593 shares during the last quarter. Hedge funds and other institutional investors own 51.52% of the company’s stock.
First Financial Bankshares Company Profile
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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