First Financial Bankshares, Inc. (NASDAQ:FFIN) Receives $39.20 Average Price Target from Analysts

Key Points

• First Financial Bankshares, Inc. has received a consensus rating of "Hold" from five covering brokerages, with an average 1-year price target of $39.20.
• The bank reported $0.47 earnings per share for the last quarter, exceeding expectations, along with a dividend of $0.19 per share set to be paid to shareholders.
• Director Michael B. Denny increased his stake in the company by acquiring 5,000 shares at $36.02 each, reflecting confidence in the firm's performance amidst recent trading activity.

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) has been given a consensus rating of "Hold" by the five ratings firms that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $39.20.

FFIN has been the subject of a number of analyst reports. Hovde Group upped their price target on First Financial Bankshares from $38.00 to $39.00 and gave the stock a "market perform" rating in a report on Monday, July 21st. Cantor Fitzgerald began coverage on First Financial Bankshares in a report on Wednesday, September 10th. They set a "neutral" rating and a $39.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their target price on First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a report on Friday, July 18th.

Institutional Investors Weigh In On First Financial Bankshares

A number of large investors have recently made changes to their positions in FFIN. Ameriprise Financial Inc. increased its holdings in shares of First Financial Bankshares by 1.9% in the fourth quarter. Ameriprise Financial Inc. now owns 480,869 shares of the bank's stock valued at $17,338,000 after purchasing an additional 8,787 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of First Financial Bankshares by 14.3% in the fourth quarter. Ensign Peak Advisors Inc now owns 52,822 shares of the bank's stock valued at $1,904,000 after purchasing an additional 6,590 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of First Financial Bankshares in the fourth quarter valued at approximately $835,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of First Financial Bankshares by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,092 shares of the bank's stock valued at $2,671,000 after purchasing an additional 2,894 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of First Financial Bankshares in the fourth quarter valued at approximately $929,000. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bankshares Price Performance

NASDAQ FFIN traded down $0.25 during trading hours on Wednesday, reaching $35.59. The company's stock had a trading volume of 132,824 shares, compared to its average volume of 528,993. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 20.69 and a beta of 0.89. First Financial Bankshares has a 1-year low of $30.58 and a 1-year high of $44.66. The company's 50-day moving average is $36.20 and its two-hundred day moving average is $35.46.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.02. The company had revenue of $156.60 million during the quarter, compared to analysts' expectations of $156.41 million. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.During the same quarter in the prior year, the firm posted $0.37 EPS. Equities analysts forecast that First Financial Bankshares will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. First Financial Bankshares's dividend payout ratio is presently 44.19%.

About First Financial Bankshares

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.