First Financial Bankshares, Inc. (NASDAQ:FFIN) Stock Has Consensus Target Price of $35.80

Key Points

• Analyst sentiment is mostly neutral: Five of six analysts rate First Financial Bankshares “Hold,” while one rates it a “Strong Buy.” The consensus 12-month price target is $35.80, above the reported share price of $31.75.
• Quarterly results met expectations: The bank reported earnings of $0.50 per share, matching consensus estimates, and revenue of $172.76 million. It posted a 31.03% net margin and 14.00% return on equity.
• Shareholders received a quarterly dividend: The company paid $0.22 per share, equivalent to $0.88 annually and a 2.8% yield. Institutional investors own approximately 69.78% of the stock.

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) has been given an average recommendation of "Hold" by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $35.80.

FFIN has been the subject of a number of analyst reports. Piper Sandler began coverage on First Financial Bankshares in a research report on Thursday, August 27th. They set a "neutral" rating and a $35.00 price objective for the company. Weiss Ratings lowered shares of First Financial Bankshares from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, September 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $35.00 price objective (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th. Benchmark began coverage on First Financial Bankshares in a research note on Wednesday, June 24th. They set a "buy" rating and a $39.00 target price on the stock. Finally, Hovde Group assumed coverage on First Financial Bankshares in a report on Friday, September 11th. They issued a "market perform" rating and a $36.00 target price for the company.

First Financial Bankshares Price Performance

Shares of NASDAQ FFIN opened at $31.75 on Friday. First Financial Bankshares has a 1 year low of $28.11 and a 1 year high of $36.52. The stock has a market cap of $4.55 billion, a P/E ratio of 16.98 and a beta of 0.82. The firm has a 50-day moving average of $33.71 and a 200 day moving average of $32.84.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Friday, July 17th. The bank reported $0.50 earnings per share for the quarter, hitting analysts' consensus estimates of $0.50. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. The business had revenue of $172.76 million for the quarter, compared to analysts' expectations of $173.03 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. Research analysts expect that First Financial Bankshares will post 2.04 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, September 14th. First Financial Bankshares's dividend payout ratio is presently 47.06%.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny bought 3,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $34.66 per share, with a total value of $103,980.00. Following the transaction, the director owned 6,500 shares in the company, valued at $225,290. This represents a 85.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Ronald David Butler II sold 15,000 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.95, for a total transaction of $524,250.00. Following the transaction, the chief accounting officer owned 152,223 shares in the company, valued at $5,320,193.85. This represents a 8.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in First Financial Bankshares in the fourth quarter worth approximately $44,000. IFP Advisors Inc raised its stake in First Financial Bankshares by 1,708.2% during the 2nd quarter. IFP Advisors Inc now owns 1,754 shares of the bank's stock valued at $61,000 after buying an additional 1,657 shares during the last quarter. Parallel Advisors LLC raised its stake in First Financial Bankshares by 83.5% during the 1st quarter. Parallel Advisors LLC now owns 1,885 shares of the bank's stock valued at $56,000 after buying an additional 858 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in First Financial Bankshares during the 2nd quarter valued at $87,000. Finally, Nykredit A S bought a new position in shares of First Financial Bankshares during the 2nd quarter valued at $97,000. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, online and mobile banking, and other deposit products. The company also provides trust, wealth-management and investment-related services through affiliated operations.

First Financial Bankshares traces its history to 1890 and serves communities across Texas through a network of banking locations.

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