Shares of First Financial Bankshares Inc (NASDAQ:FFIN) have been assigned an average rating of “Hold” from the six research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $34.50.
Several brokerages have recently issued reports on FFIN. Zacks Investment Research upgraded First Financial Bankshares from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Wednesday, February 12th. BidaskClub downgraded First Financial Bankshares from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 23rd. SunTrust Banks lifted their price target on First Financial Bankshares from $35.00 to $37.00 and gave the stock a “hold” rating in a research report on Thursday, January 2nd. Stephens dropped their price target on First Financial Bankshares from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Monday, January 27th. Finally, ValuEngine raised First Financial Bankshares from a “strong sell” rating to a “sell” rating in a research report on Friday, December 27th.
FFIN traded down $0.01 during trading hours on Friday, hitting $31.84. 369,394 shares of the stock were exchanged, compared to its average volume of 343,722. The stock has a 50-day simple moving average of $34.34 and a 200-day simple moving average of $33.73. First Financial Bankshares has a 12 month low of $27.13 and a 12 month high of $36.45. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 26.31 and a beta of 1.08.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Friday, March 13th. First Financial Bankshares’s dividend payout ratio is presently 39.67%.
In related news, Director Michael B. Denny purchased 1,400 shares of the stock in a transaction on Wednesday, February 5th. The shares were purchased at an average cost of $34.73 per share, for a total transaction of $48,622.00. Following the completion of the transaction, the director now directly owns 1,974 shares of the company’s stock, valued at approximately $68,557.02. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Johnny Trotter purchased 7,100 shares of the stock in a transaction on Friday, December 13th. The stock was bought at an average price of $35.01 per share, for a total transaction of $248,571.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 12,500 shares of company stock worth $430,253. 4.90% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Morgan Stanley raised its position in First Financial Bankshares by 23.3% during the 2nd quarter. Morgan Stanley now owns 70,705 shares of the bank’s stock worth $2,178,000 after buying an additional 13,379 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in First Financial Bankshares by 103.5% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,637 shares of the bank’s stock worth $81,000 after purchasing an additional 1,341 shares in the last quarter. BlackRock Inc. increased its stake in First Financial Bankshares by 102.7% in the 2nd quarter. BlackRock Inc. now owns 15,535,492 shares of the bank’s stock worth $478,338,000 after purchasing an additional 7,870,372 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in First Financial Bankshares by 90.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 950 shares of the bank’s stock worth $32,000 after purchasing an additional 450 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in First Financial Bankshares by 4.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 80,400 shares of the bank’s stock worth $2,680,000 after purchasing an additional 3,485 shares in the last quarter. Hedge funds and other institutional investors own 49.36% 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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