Piper Jaffray Companies set a $27.00 price objective on First Financial Bankshares (NASDAQ:FFIN) in a report released on Friday, TipRanks reports. The brokerage currently has a hold rating on the bank’s stock. Piper Jaffray Companies also issued estimates for First Financial Bankshares’ FY2019 earnings at $1.20 EPS, Q2 2020 earnings at $0.33 EPS, Q3 2020 earnings at $0.34 EPS and FY2020 earnings at $1.32 EPS.
Several other brokerages also recently commented on FFIN. Stephens set a $89.00 price target on IBERIABANK and gave the stock a buy rating in a research report on Friday. ValuEngine raised Ultrapar Participacoes from a strong sell rating to a sell rating in a research report on Tuesday, June 4th. BidaskClub raised WhiteHorse Finance from a sell rating to a hold rating in a research report on Thursday, July 18th. Finally, Zacks Investment Research raised Falcon Minerals from a sell rating to a hold rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has a consensus rating of Hold and an average target price of $30.25.
NASDAQ FFIN traded up $0.40 during trading on Friday, hitting $31.71. The company’s stock had a trading volume of 401,643 shares, compared to its average volume of 761,320. The business’s 50 day moving average is $30.21. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 29.09 and a beta of 1.16. First Financial Bankshares has a 52 week low of $26.73 and a 52 week high of $33.42.
First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The company had revenue of $101.26 million for the quarter, compared to the consensus estimate of $99.90 million. First Financial Bankshares had a return on equity of 14.82% and a net margin of 38.62%. During the same period in the previous year, the business posted $0.49 EPS. Sell-side analysts forecast that First Financial Bankshares will post 1.19 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, June 14th. First Financial Bankshares’s payout ratio is presently 44.04%.
In other news, Director Johnny Trotter acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were bought at an average price of $60.67 per share, with a total value of $121,340.00. Following the acquisition, the director now owns 405,913 shares of the company’s stock, valued at $24,626,741.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David L. Copeland sold 5,000 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $61.68, for a total value of $308,400.00. Following the sale, the director now directly owns 34,094 shares in the company, valued at approximately $2,102,917.92. The disclosure for this sale can be found here. Insiders have bought a total of 11,181 shares of company stock worth $663,178 in the last three months. 4.90% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. Western Wealth Management LLC acquired a new stake in shares of First Financial Bankshares during the 4th quarter worth approximately $267,000. Coldstream Capital Management Inc. grew its holdings in shares of First Financial Bankshares by 11.3% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,132 shares of the bank’s stock worth $238,000 after purchasing an additional 419 shares in the last quarter. Amalgamated Bank grew its holdings in shares of First Financial Bankshares by 127.0% during the 4th quarter. Amalgamated Bank now owns 10,200 shares of the bank’s stock worth $588,000 after purchasing an additional 5,706 shares in the last quarter. Pennsylvania Trust Co acquired a new stake in shares of First Financial Bankshares during the 1st quarter worth approximately $327,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of First Financial Bankshares by 20.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,213 shares of the bank’s stock worth $127,000 after purchasing an additional 381 shares in the last quarter. 55.53% of the stock is currently owned by institutional investors.
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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