First Financial Bankshares (NASDAQ:FFIN) Hits New 1-Year High at $33.43

First Financial Bankshares Inc (NASDAQ:FFIN) shares reached a new 52-week high on Wednesday . The company traded as high as $33.43 and last traded at $32.75, with a volume of 505026 shares traded. The stock had previously closed at $32.94.

A number of equities research analysts have weighed in on the stock. BidaskClub raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research lowered shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Stephens reissued a “hold” rating and set a $30.00 target price on shares of First Financial Bankshares in a report on Friday, July 19th. Piper Jaffray Companies set a $27.00 target price on shares of First Financial Bankshares and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, ValuEngine lowered shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. First Financial Bankshares presently has a consensus rating of “Hold” and an average price target of $30.25.

The firm has a market capitalization of $8.89 billion, a PE ratio of 30.05 and a beta of 1.16. The business has a fifty day moving average of $30.72.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, July 18th. The bank reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The firm had revenue of $101.26 million for the quarter, compared to analyst estimates of $99.90 million. First Financial Bankshares had a net margin of 38.62% and a return on equity of 14.82%. During the same period in the previous year, the firm posted $0.49 EPS. Equities research analysts predict that First Financial Bankshares Inc will post 1.2 EPS for the current year.

In other news, Director Johnny Trotter purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $60.67 per share, for a total transaction of $121,340.00. Following the transaction, the director now owns 405,913 shares of the company’s stock, valued at $24,626,741.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David L. Copeland sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $61.68, for a total transaction of $308,400.00. Following the completion of the transaction, the director now owns 34,094 shares in the company, valued at approximately $2,102,917.92. The disclosure for this sale can be found here. Insiders bought a total of 7,963 shares of company stock worth $464,910 in the last 90 days. Corporate insiders own 4.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of First Financial Bankshares by 4.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,627,204 shares of the bank’s stock worth $94,020,000 after purchasing an additional 62,409 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of First Financial Bankshares by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,230,481 shares of the bank’s stock worth $70,986,000 after purchasing an additional 13,808 shares during the period. Geode Capital Management LLC lifted its position in shares of First Financial Bankshares by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 822,663 shares of the bank’s stock worth $47,459,000 after purchasing an additional 52,256 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of First Financial Bankshares by 103.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 412,411 shares of the bank’s stock valued at $12,698,000 after acquiring an additional 209,853 shares during the period. Finally, New York State Teachers Retirement System lifted its position in shares of First Financial Bankshares by 93.2% during the 2nd quarter. New York State Teachers Retirement System now owns 332,268 shares of the bank’s stock valued at $10,231,000 after acquiring an additional 160,318 shares during the period. Hedge funds and other institutional investors own 55.53% of the company’s stock.

First Financial Bankshares Company Profile (NASDAQ:FFIN)

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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