First Financial Bankshares (NASDAQ:FFIN) Given New $38.00 Price Target at Hovde Group

First Financial Bankshares (NASDAQ:FFIN - Free Report) had its price objective lowered by Hovde Group from $40.00 to $38.00 in a research note released on Monday, Marketbeat reports. The brokerage currently has a market perform rating on the bank's stock.

Separately, Keefe, Bruyette & Woods increased their price target on shares of First Financial Bankshares from $40.00 to $41.00 and gave the company a "market perform" rating in a research report on Monday, January 27th.

First Financial Bankshares Stock Down 1.2 %

NASDAQ:FFIN traded down $0.41 during trading hours on Monday, hitting $33.37. 350,373 shares of the stock were exchanged, compared to its average volume of 543,820. The company has a market capitalization of $4.77 billion, a P/E ratio of 21.39 and a beta of 0.82. The company's 50 day moving average is $34.89 and its two-hundred day moving average is $37.14. First Financial Bankshares has a twelve month low of $27.62 and a twelve month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 EPS for the quarter, hitting analysts' consensus estimates of $0.43. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. The firm had revenue of $149.02 million during the quarter, compared to analyst estimates of $149.48 million. On average, equities research analysts expect that First Financial Bankshares will post 1.78 EPS for the current year.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, March 14th. First Financial Bankshares's dividend payout ratio is currently 44.44%.

Insider Activity at First Financial Bankshares

In related news, Director Johnny Trotter purchased 6,000 shares of First Financial Bankshares stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the acquisition, the director now directly owns 949,371 shares of the company's stock, valued at $33,341,909.52. This represents a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders acquired 7,041 shares of company stock worth $247,992. 4.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Financial Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FFIN. Vanguard Group Inc. lifted its holdings in shares of First Financial Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,095,584 shares of the bank's stock valued at $508,146,000 after purchasing an additional 110,923 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in First Financial Bankshares by 3,508.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank's stock worth $101,222,000 after acquiring an additional 2,730,017 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of First Financial Bankshares by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,572,218 shares of the bank's stock worth $92,733,000 after acquiring an additional 42,280 shares in the last quarter. Northern Trust Corp raised its holdings in shares of First Financial Bankshares by 8.1% in the fourth quarter. Northern Trust Corp now owns 1,776,607 shares of the bank's stock valued at $64,047,000 after purchasing an additional 133,274 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of First Financial Bankshares by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,705,788 shares of the bank's stock worth $61,494,000 after purchasing an additional 4,608 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

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.