First Financial Bankshares, Inc. (NASDAQ:FFIN) Receives Average Rating of “Hold” from Brokerages
Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) have received a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $42.00.
Several brokerages recently commented on FFIN. Piper Jaffray Companies reaffirmed a “hold” rating and set a $41.00 price objective on shares of First Financial Bankshares in a research note on Friday. BidaskClub cut shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research cut shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Stephens reaffirmed a “hold” rating on shares of First Financial Bankshares in a research note on Monday, April 24th. Finally, Keefe, Bruyette & Woods raised shares of First Financial Bankshares from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $37.00 to $38.00 in a research note on Friday, April 21st.
In other First Financial Bankshares news, Director Ronald N. Giddiens sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $41.00, for a total value of $41,000.00. Following the completion of the transaction, the director now owns 13,816 shares of the company’s stock, valued at approximately $566,456. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Johnny Trotter purchased 1,500 shares of the business’s stock in a transaction on Friday, April 28th. The stock was bought at an average cost of $40.36 per share, with a total value of $60,540.00. Following the purchase, the director now owns 387,588 shares in the company, valued at $15,643,051.68. The disclosure for this purchase can be found here. In the last three months, insiders acquired 3,230 shares of company stock valued at $127,549. Corporate insiders own 5.04% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in First Financial Bankshares by 84,122.7% in the first quarter. BlackRock Inc. now owns 7,960,731 shares of the bank’s stock worth $319,224,000 after buying an additional 7,951,279 shares in the last quarter. Norges Bank bought a new position in First Financial Bankshares during the fourth quarter worth approximately $24,266,000. State Street Corp boosted its position in First Financial Bankshares by 23.8% in the first quarter. State Street Corp now owns 2,081,757 shares of the bank’s stock worth $83,472,000 after buying an additional 400,296 shares in the last quarter. Vanguard Group Inc. boosted its position in First Financial Bankshares by 5.7% in the first quarter. Vanguard Group Inc. now owns 5,750,394 shares of the bank’s stock worth $230,590,000 after buying an additional 310,827 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in First Financial Bankshares by 34.9% in the first quarter. Bank of New York Mellon Corp now owns 1,127,767 shares of the bank’s stock worth $45,222,000 after buying an additional 291,772 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.
First Financial Bankshares (FFIN) traded up 0.47% during mid-day trading on Friday, hitting $42.95. 190,383 shares of the company traded hands. The firm has a 50 day moving average of $42.12 and a 200 day moving average of $41.57. The firm has a market capitalization of $2.82 billion, a P/E ratio of 26.84 and a beta of 1.35. First Financial Bankshares has a one year low of $33.29 and a one year high of $46.70.
First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. The company had revenue of $82.25 million during the quarter, compared to analysts’ expectations of $87.11 million. First Financial Bankshares had a net margin of 33.09% and a return on equity of 12.32%. First Financial Bankshares’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 earnings per share. Equities research analysts expect that First Financial Bankshares will post $1.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 16th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Wednesday, June 14th. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.18. First Financial Bankshares’s payout ratio is currently 47.50%.
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About First Financial Bankshares
First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.
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