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.
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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