First Financial Bankshares (NASDAQ:FFIN) PT Lowered to $31.00

First Financial Bankshares (NASDAQ:FFINFree Report) had its price target reduced by Truist Financial from $32.00 to $31.00 in a report issued on Monday, Benzinga reports. They currently have a hold rating on the bank’s stock.

Separately, Stephens reduced their price target on First Financial Bankshares from $35.00 to $31.00 and set an equal weight rating on the stock in a research report on Friday, April 19th.

View Our Latest Research Report on First Financial Bankshares

First Financial Bankshares Price Performance

FFIN opened at $29.62 on Monday. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 21.16 and a beta of 0.80. The business has a 50-day moving average of $29.58 and a two-hundred day moving average of $30.26. First Financial Bankshares has a 12 month low of $22.84 and a 12 month high of $33.15.

First Financial Bankshares (NASDAQ:FFINGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $129.63 million during the quarter, compared to analysts’ expectations of $129.72 million. First Financial Bankshares had a return on equity of 14.28% and a net margin of 30.03%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. Equities research analysts anticipate that First Financial Bankshares will post 1.49 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.72 annualized dividend and a yield of 2.43%. First Financial Bankshares’s dividend payout ratio is presently 51.43%.

Insiders Place Their Bets

In other news, Director Sally Pope Davis purchased 1,800 shares of the stock in a transaction dated Thursday, June 6th. The stock was acquired at an average cost of $28.75 per share, for a total transaction of $51,750.00. Following the acquisition, the director now owns 1,800 shares of the company’s stock, valued at $51,750. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Director Sally Pope Davis purchased 1,800 shares of the stock in a transaction dated Thursday, June 6th. The stock was acquired at an average cost of $28.75 per share, for a total transaction of $51,750.00. Following the acquisition, the director now owns 1,800 shares of the company’s stock, valued at $51,750. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Johnny Trotter acquired 1,500 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were bought at an average price of $30.22 per share, with a total value of $45,330.00. Following the completion of the purchase, the director now owns 940,371 shares in the company, valued at $28,418,011.62. The disclosure for this purchase can be found here. Insiders have acquired 6,743 shares of company stock worth $199,526 in the last three months. 4.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Semanteon Capital Management LP acquired a new stake in shares of First Financial Bankshares in the fourth quarter valued at $817,000. International Assets Investment Management LLC acquired a new position in First Financial Bankshares during the fourth quarter valued at $2,965,000. First Financial Bankshares Inc acquired a new position in First Financial Bankshares in the 4th quarter worth about $553,577,000. Louisiana State Employees Retirement System acquired a new position in First Financial Bankshares in the 4th quarter worth about $1,094,000. Finally, Rafferty Asset Management LLC boosted its stake in First Financial Bankshares by 105.3% during the 4th quarter. Rafferty Asset Management LLC now owns 146,235 shares of the bank’s stock valued at $4,431,000 after purchasing an additional 74,996 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.

About First Financial Bankshares

(Get Free Report)

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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