First Financial Bankshares, Inc. (NASDAQ:FFIN) Receives Consensus Recommendation of "Hold" 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 received a consensus rating of "Hold" from the five brokerages that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating. The average 1 year price objective among analysts that have covered the stock in the last year is $39.20.

FFIN has been the subject of several analyst reports. Hovde Group boosted their price target on First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a report on Monday, July 21st. Keefe, Bruyette & Woods boosted their price target 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. Finally, Cantor Fitzgerald assumed coverage on First Financial Bankshares in a report on Wednesday. They set a "neutral" rating and a $39.00 price objective for the company.

First Financial Bankshares Price Performance

FFIN traded down $0.07 during trading on Wednesday, hitting $36.02. The company's stock had a trading volume of 74,145 shares, compared to its average volume of 528,316. The firm's 50 day moving average price is $36.30 and its 200-day moving average price is $35.49. The stock has a market cap of $5.15 billion, a PE ratio of 20.94 and a beta of 0.89. First Financial Bankshares has a twelve month low of $30.58 and a twelve month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. The company had revenue of $156.60 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $0.37 EPS. Equities analysts anticipate that First Financial Bankshares will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

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

Insider Activity at First Financial Bankshares

In other news, Director Michael B. Denny acquired 5,000 shares of the company's stock in a transaction dated Friday, June 13th. The stock was acquired at an average cost of $36.02 per share, for a total transaction of $180,100.00. Following the acquisition, the director directly owned 108,708 shares in the company, valued at approximately $3,915,662.16. This represents a 4.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 3.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Financial Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. purchased a new position in First Financial Bankshares in the 1st quarter valued at about $26,000. Fifth Third Bancorp boosted its position in First Financial Bankshares by 161.5% in the 1st quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock valued at $26,000 after buying an additional 441 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in First Financial Bankshares in the 1st quarter valued at about $36,000. Smartleaf Asset Management LLC boosted its position in First Financial Bankshares by 47.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank's stock valued at $45,000 after buying an additional 404 shares during the last quarter. Finally, State of Wyoming purchased a new position in First Financial Bankshares in the 2nd quarter valued at about $54,000. 69.78% of the stock is owned by hedge funds and other institutional investors.

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.

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