First Financial Bankshares Inc (FFIN) Short Interest Down 21.1% in January

First Financial Bankshares Inc (NASDAQ:FFIN) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 6,031,535 shares, a drop of 21.1% from the January 12th total of 7,642,732 shares. Based on an average daily volume of 234,128 shares, the short-interest ratio is currently 25.8 days. Approximately 11.6% of the shares of the stock are short sold.

A number of brokerages have recently weighed in on FFIN. Hovde Group set a $46.00 price objective on shares of First Financial Bankshares and gave the stock a “hold” rating in a research note on Monday, January 29th. BidaskClub raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research note on Thursday, January 18th. Sandler O’Neill reissued a “sell” rating and set a $40.00 price objective on shares of First Financial Bankshares in a research note on Friday, January 26th. Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a research note on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $42.00 target price on shares of First Financial Bankshares in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the company’s stock. First Financial Bankshares currently has a consensus rating of “Hold” and a consensus target price of $44.14.

In other First Financial Bankshares news, Director Johnny Trotter acquired 11,400 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was acquired at an average cost of $45.10 per share, with a total value of $514,140.00. Following the purchase, the director now directly owns 388,938 shares in the company, valued at approximately $17,541,103.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven L. Beal sold 15,973 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $47.37, for a total transaction of $756,641.01. Following the transaction, the director now directly owns 1,465 shares of the company’s stock, valued at $69,397.05. The disclosure for this sale can be found here. Company insiders own 5.04% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in shares of First Financial Bankshares by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,887 shares of the bank’s stock valued at $2,206,000 after buying an additional 361 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of First Financial Bankshares by 6.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the bank’s stock valued at $1,284,000 after buying an additional 1,700 shares during the period. Smith Asset Management Group LP grew its stake in shares of First Financial Bankshares by 18.0% during the 3rd quarter. Smith Asset Management Group LP now owns 11,492 shares of the bank’s stock valued at $519,000 after buying an additional 1,752 shares during the period. Voya Investment Management LLC grew its stake in shares of First Financial Bankshares by 6.7% during the 2nd quarter. Voya Investment Management LLC now owns 29,500 shares of the bank’s stock valued at $1,304,000 after buying an additional 1,840 shares during the period. Finally, Bridge City Capital LLC grew its stake in shares of First Financial Bankshares by 8.7% during the 3rd quarter. Bridge City Capital LLC now owns 23,838 shares of the bank’s stock valued at $1,077,000 after buying an additional 1,906 shares during the period. 51.35% of the stock is owned by institutional investors.

Shares of First Financial Bankshares (FFIN) opened at $45.60 on Friday. The company has a market cap of $3,038.04, a P/E ratio of 26.97 and a beta of 1.37. First Financial Bankshares has a 12 month low of $36.85 and a 12 month high of $48.85.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, January 25th. The bank reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.01). The firm had revenue of $83.20 million during the quarter, compared to analysts’ expectations of $90.40 million. First Financial Bankshares had a return on equity of 12.61% and a net margin of 35.72%. analysts predict that First Financial Bankshares will post 2.09 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.76 annualized dividend and a dividend yield of 1.67%. First Financial Bankshares’s dividend payout ratio is presently 41.99%.

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First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. 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, First Financial Insurance Agency, Inc, Abilene, Texas, Commercial Bancshares, Inc, and Commercial State Bank, Kingwood, Texas.

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