BidaskClub upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a buy rating in a research note released on Wednesday, September 12th.
Separately, Zacks Investment Research cut First Financial Bankshares from a buy rating to a hold rating in a research note on Wednesday, May 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. First Financial Bankshares currently has a consensus rating of Hold and a consensus price target of $48.80.
First Financial Bankshares stock traded down $0.39 during midday trading on Wednesday, reaching $59.59. The company’s stock had a trading volume of 173,020 shares, compared to its average volume of 219,311. First Financial Bankshares has a 52-week low of $43.05 and a 52-week high of $61.86. The stock has a market cap of $4.00 billion, a PE ratio of 35.05 and a beta of 1.26.
First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, July 19th. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.03. First Financial Bankshares had a return on equity of 13.29% and a net margin of 37.86%. The firm had revenue of $93.10 million during the quarter, compared to analysts’ expectations of $93.10 million. During the same period last year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities research analysts predict that First Financial Bankshares will post 2.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 17th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, September 14th. First Financial Bankshares’s payout ratio is 49.41%.
Large investors have recently made changes to their positions in the company. Smith Asset Management Group LP grew its holdings in First Financial Bankshares by 10.8% during the second quarter. Smith Asset Management Group LP now owns 13,800 shares of the bank’s stock worth $702,000 after acquiring an additional 1,350 shares during the period. Amalgamated Bank grew its holdings in First Financial Bankshares by 16.3% during the second quarter. Amalgamated Bank now owns 10,614 shares of the bank’s stock worth $540,000 after acquiring an additional 1,485 shares during the period. Royal Bank of Canada grew its holdings in First Financial Bankshares by 36.5% during the first quarter. Royal Bank of Canada now owns 15,610 shares of the bank’s stock worth $722,000 after acquiring an additional 4,174 shares during the period. Natixis Advisors L.P. grew its holdings in First Financial Bankshares by 6.0% during the first quarter. Natixis Advisors L.P. now owns 161,444 shares of the bank’s stock worth $7,475,000 after acquiring an additional 9,108 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in First Financial Bankshares by 6.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 400,439 shares of the bank’s stock worth $20,383,000 after acquiring an additional 23,208 shares during the period. Hedge funds and other institutional investors own 53.78% 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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