First Financial Bankshares, Inc. (FFIN) - What Are Investment Firms Saying About This Stock?

Key Points

• Analyst sentiment is cautious: Six of seven analysts rate First Financial Bankshares “Hold,” while one rates it a strong buy. The average 12-month price target is $35.20, with several firms recently maintaining neutral or market-perform ratings and lowering targets.
• Quarterly earnings met expectations: The bank reported earnings per share of $0.52, matching consensus estimates, although revenue of $174.14 million fell short of the $178.63 million forecast. Net margin was 33.16% and return on equity was 14.91%.
• Institutional ownership remains substantial: Institutional investors and hedge funds own 69.78% of the stock, while insiders own 3.80%. Recent insider activity included a sale by the chief accounting officer and a purchase by a director.

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) have earned an average recommendation of "Hold" from the seven analysts that are currently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $35.20.

A number of equities research analysts have recently commented on the company. Piper Sandler dropped their target price on First Financial Bankshares from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Monday, October 19th. Raymond James Financial started coverage on First Financial Bankshares in a research note on Wednesday, October 14th. They issued a "market perform" rating for the company. Hovde Group initiated coverage on First Financial Bankshares in a report on Friday, September 11th. They issued a "market perform" rating and a $36.00 price target for the company. Weiss Ratings downgraded First Financial Bankshares from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, September 25th. Finally, Cantor Fitzgerald dropped their price objective on First Financial Bankshares from $35.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday, October 14th.

First Financial Bankshares Stock Performance

FFIN stock opened at $30.00 on Tuesday. First Financial Bankshares has a one year low of $28.11 and a one year high of $36.52. The firm's fifty day moving average is $32.45 and its 200 day moving average is $32.53. The firm has a market cap of $4.30 billion, a PE ratio of 14.78 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly earnings data on Thursday, October 15th. The bank reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. First Financial Bankshares had a net margin of 33.16% and a return on equity of 14.91%. The business had revenue of $174.14 million during the quarter, compared to the consensus estimate of $178.63 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Research analysts predict that First Financial Bankshares will post 2.05 earnings per share for the current fiscal year.

Insider Activity at First Financial Bankshares

In related news, CAO Ronald David Butler II sold 15,000 shares of First Financial Bankshares stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.95, for a total value of $524,250.00. Following the sale, the chief accounting officer owned 152,223 shares of the company's stock, valued at approximately $5,320,193.85. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael B. Denny purchased 3,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average cost of $34.66 per share, for a total transaction of $103,980.00. Following the purchase, the director directly owned 6,500 shares in the company, valued at $225,290. This trade represents a 85.71% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.80% of the company's stock.

Hedge Funds Weigh In On First Financial Bankshares

A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of First Financial Bankshares by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,760,965 shares of the bank's stock valued at $81,309,000 after purchasing an additional 45,052 shares during the period. Principal Financial Group Inc. increased its stake in shares of First Financial Bankshares by 4.4% during the first quarter. Principal Financial Group Inc. now owns 297,075 shares of the bank's stock worth $8,749,000 after purchasing an additional 12,454 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of First Financial Bankshares by 4.2% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 252,656 shares of the bank's stock worth $8,742,000 after purchasing an additional 10,244 shares during the last quarter. Swiss National Bank raised its position in shares of First Financial Bankshares by 0.4% during the 1st quarter. Swiss National Bank now owns 240,900 shares of the bank's stock worth $7,095,000 after purchasing an additional 1,000 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of First Financial Bankshares by 0.7% during the 1st quarter. California Public Employees Retirement System now owns 236,597 shares of the bank's stock worth $6,968,000 after purchasing an additional 1,761 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

About First Financial Bankshares

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene, Texas. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations. The bank traces its roots to 1890 and has grown through expansion and acquisitions into a regional banking organization serving communities across Texas.

First Financial Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts.

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