First Financial Bankshares, Inc. (NASDAQ:FFIN) Receives $42.00 Consensus PT from Analysts

First Financial Bankshares, Inc. (NASDAQ:FFIN) has received a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $42.00.

A number of brokerages have weighed in on FFIN. Stephens set a $39.00 price target on shares of First Financial Bankshares and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a report on Wednesday, July 26th. Piper Jaffray Companies reiterated a “hold” rating and issued a $41.00 price objective on shares of First Financial Bankshares in a report on Friday, July 21st. BidaskClub downgraded shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Keefe, Bruyette & Woods upgraded shares of First Financial Bankshares from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $37.00 to $38.00 in a report on Friday, April 21st.

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Shares of First Financial Bankshares (FFIN) opened at 40.75 on Friday. First Financial Bankshares has a 52-week low of $34.17 and a 52-week high of $46.70. The firm has a market capitalization of $2.68 billion, a P/E ratio of 25.12 and a beta of 1.34. The stock’s 50 day moving average is $43.00 and its 200-day moving average is $41.51.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. First Financial Bankshares had a net margin of 33.03% and a return on equity of 12.41%. The firm had revenue of $82.25 million for the quarter, compared to analyst estimates of $87.11 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts forecast that First Financial Bankshares will post $1.70 earnings per share for the current fiscal year.

First Financial Bankshares declared that its board has approved a stock buyback plan on Tuesday, July 25th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.76 annualized dividend and a dividend yield of 1.87%. First Financial Bankshares’s dividend payout ratio is currently 46.91%.

In other news, Director David L. Copeland sold 684 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $38.00, for a total value of $25,992.00. Following the completion of the sale, the director now owns 33,379 shares of the company’s stock, valued at $1,268,402. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Johnny Trotter bought 1,000 shares of First Financial Bankshares stock in a transaction dated Thursday, June 1st. The stock was acquired at an average cost of $38.55 per share, with a total value of $38,550.00. Following the transaction, the director now owns 388,938 shares of the company’s stock, valued at approximately $14,993,559.90. The disclosure for this purchase can be found here. 5.04% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in shares of First Financial Bankshares by 1.2% in the fourth quarter. AQR Capital Management LLC now owns 6,041 shares of the bank’s stock worth $273,000 after buying an additional 70 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of First Financial Bankshares by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 7,330 shares of the bank’s stock worth $293,000 after buying an additional 140 shares during the last quarter. Amalgamated Bank boosted its stake in shares of First Financial Bankshares by 2.6% in the second quarter. Amalgamated Bank now owns 8,768 shares of the bank’s stock worth $388,000 after buying an additional 225 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of First Financial Bankshares by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock worth $102,000 after buying an additional 239 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in shares of First Financial Bankshares by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 26,900 shares of the bank’s stock worth $1,079,000 after buying an additional 300 shares during the last quarter. 49.89% of the stock is owned by institutional investors.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.

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