First Financial Bankshares, Inc. (NASDAQ:FFIN) shares reached a new 52-week high and low on Monday . The stock traded as low as $53.55 and last traded at $53.25, with a volume of 5035 shares traded. The stock had previously closed at $53.15.
FFIN has been the topic of several research analyst reports. BidaskClub cut shares of First Financial Bankshares from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 15th. Sandler O’Neill restated a “sell” rating and issued a $40.00 price objective on shares of First Financial Bankshares in a research report on Friday, January 26th. Zacks Investment Research cut shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. ValuEngine upgraded shares of First Financial Bankshares from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Hovde Group set a $46.00 price objective on shares of First Financial Bankshares and gave the stock a “hold” rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $44.71.
The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 31.24 and a beta of 1.26.
First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, April 19th. The bank reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. First Financial Bankshares had a net margin of 36.61% and a return on equity of 12.63%. The business had revenue of $89.87 million for the quarter, compared to analysts’ expectations of $89.40 million. During the same period last year, the business earned $0.40 earnings per share. research analysts expect that First Financial Bankshares, Inc. will post 2.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be given a dividend of $0.21 per share. This is a boost from First Financial Bankshares’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Thursday, June 14th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 44.71%.
In other First Financial Bankshares news, Director David L. Copeland sold 7,362 shares of the stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $50.68, for a total transaction of $373,106.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.77% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FFIN. Louisiana State Employees Retirement System grew its position in First Financial Bankshares by 6.3% during the fourth quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the bank’s stock valued at $1,284,000 after acquiring an additional 1,700 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in First Financial Bankshares by 5.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 362,361 shares of the bank’s stock valued at $16,325,000 after acquiring an additional 18,597 shares during the last quarter. Aperio Group LLC grew its position in First Financial Bankshares by 13.9% during the fourth quarter. Aperio Group LLC now owns 18,057 shares of the bank’s stock valued at $813,000 after acquiring an additional 2,210 shares during the last quarter. CIBC Asset Management Inc bought a new position in First Financial Bankshares during the fourth quarter valued at approximately $233,000. Finally, Teacher Retirement System of Texas bought a new position in First Financial Bankshares during the fourth quarter valued at approximately $819,000. Institutional investors and hedge funds own 51.52% of the company’s stock.
About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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