First Financial Bankshares (FFIN) Shares Scheduled to Split on Monday, June 3rd

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Shares of First Financial Bankshares Inc (NASDAQ:FFIN) are going to split on the morning of Monday, June 3rd. The 2-1 split was announced on Tuesday, April 23rd. The newly created shares will be payable to shareholders after the market closes on Friday, May 31st.

NASDAQ FFIN opened at $60.91 on Friday. First Financial Bankshares has a fifty-two week low of $50.55 and a fifty-two week high of $66.83. The stock has a market cap of $8.21 billion, a price-to-earnings ratio of 27.94 and a beta of 1.14.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, April 18th. The bank reported $0.56 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. First Financial Bankshares had a return on equity of 15.03% and a net margin of 38.47%. The company had revenue of $95.77 million for the quarter, compared to analyst estimates of $96.90 million. During the same period last year, the company earned $0.51 earnings per share. On average, equities research analysts anticipate that First Financial Bankshares will post 2.38 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, June 14th. This represents a $0.48 annualized dividend and a yield of 0.79%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 38.53%.

Several equities analysts have weighed in on FFIN shares. Zacks Investment Research upgraded First Financial Bankshares from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Monday, April 1st. BidaskClub upgraded First Financial Bankshares from a “hold” rating to a “buy” rating in a report on Saturday, February 9th. Stephens set a $57.00 target price on First Financial Bankshares and gave the company a “hold” rating in a report on Friday, January 25th. Finally, ValuEngine lowered First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $60.67.

In other First Financial Bankshares news, Director Johnny Trotter acquired 3,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were acquired at an average cost of $61.61 per share, for a total transaction of $184,830.00. Following the completion of the purchase, the director now owns 394,913 shares of the company’s stock, valued at approximately $24,330,589.93. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David L. Copeland sold 5,000 shares of First Financial Bankshares stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $61.68, for a total value of $308,400.00. Following the completion of the transaction, the director now owns 34,094 shares in the company, valued at $2,102,917.92. The disclosure for this sale can be found here. Insiders bought 15,218 shares of company stock worth $928,508 over the last quarter. 4.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of FFIN. LPL Financial LLC bought a new position in shares of First Financial Bankshares in the third quarter worth about $207,000. AQR Capital Management LLC increased its stake in shares of First Financial Bankshares by 33.5% in the third quarter. AQR Capital Management LLC now owns 5,248 shares of the bank’s stock worth $310,000 after purchasing an additional 1,318 shares during the period. Vanguard Group Inc grew its position in First Financial Bankshares by 2.1% during the third quarter. Vanguard Group Inc now owns 6,569,285 shares of the bank’s stock worth $388,245,000 after buying an additional 138,088 shares in the last quarter. State of Alaska Department of Revenue grew its position in First Financial Bankshares by 1.8% during the fourth quarter. State of Alaska Department of Revenue now owns 22,666 shares of the bank’s stock worth $1,307,000 after buying an additional 390 shares in the last quarter. Finally, Bank of Montreal Can grew its position in First Financial Bankshares by 9.2% during the fourth quarter. Bank of Montreal Can now owns 5,479 shares of the bank’s stock worth $315,000 after buying an additional 462 shares in the last quarter. Institutional investors and hedge funds own 55.53% of the company’s stock.

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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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