First Financial Bankshares, Inc. (NASDAQ:FFIN) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately positive: Six brokerages give First Financial Bankshares a consensus “Moderate Buy” rating, with an average 12-month price target of $36.40 versus the reported share price of $33.44.
• The bank’s latest quarterly results met expectations, with EPS of $0.50 and revenue of $172.76 million. Analysts expect full-year EPS of approximately $2.05.
• First Financial Bankshares declared a quarterly dividend of $0.22, equivalent to an annualized $0.88 payout and a 2.6% yield; institutional investors own nearly 70% of the company.

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $36.40.

FFIN has been the subject of a number of analyst reports. Benchmark assumed coverage on First Financial Bankshares in a research note on Wednesday, June 24th. They issued a "buy" rating and a $39.00 price target for the company. Weiss Ratings upgraded shares of First Financial Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. Piper Sandler initiated coverage on shares of First Financial Bankshares in a report on Thursday, August 27th. They issued a "neutral" rating and a $35.00 target price on the stock. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th.

First Financial Bankshares Price Performance

First Financial Bankshares stock opened at $33.44 on Monday. The firm has a market cap of $4.79 billion, a PE ratio of 17.88 and a beta of 0.81. The stock's fifty day moving average price is $34.55 and its two-hundred day moving average price is $32.67. First Financial Bankshares has a one year low of $28.11 and a one year high of $37.83.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its earnings results on Friday, July 17th. The bank reported $0.50 earnings per share for the quarter, meeting analysts' consensus estimates of $0.50. The firm had revenue of $172.76 million during the quarter, compared to the consensus estimate of $173.03 million. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.During the same period in the prior year, the company posted $0.47 EPS. Sell-side analysts expect that First Financial Bankshares will post 2.05 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, September 14th. First Financial Bankshares's dividend payout ratio (DPR) is 47.06%.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, CAO Ronald David Butler II sold 15,000 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.95, for a total transaction of $524,250.00. Following the completion of the sale, the chief accounting officer directly owned 152,223 shares in the company, valued at $5,320,193.85. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Denny bought 3,000 shares of First Financial Bankshares stock in a transaction on Tuesday, August 18th. The stock was acquired at an average cost of $34.66 per share, for a total transaction of $103,980.00. Following the acquisition, the director owned 6,500 shares in the company, valued at approximately $225,290. This represents a 85.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 4,700 shares of company stock worth $161,583 over the last three months. Corporate insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in First Financial Bankshares during the second quarter worth about $280,000. California State Teachers Retirement System grew its holdings in shares of First Financial Bankshares by 3,690.2% during the 2nd quarter. California State Teachers Retirement System now owns 5,094,400 shares of the bank's stock valued at $176,266,000 after purchasing an additional 4,959,991 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of First Financial Bankshares during the 2nd quarter valued at approximately $579,000. HB Wealth Management LLC acquired a new position in First Financial Bankshares during the 2nd quarter worth approximately $248,000. Finally, Nykredit A S acquired a new position in First Financial Bankshares during the 2nd quarter worth approximately $97,000. Institutional investors own 69.78% of the company's stock.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company's core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.