First Financial Bankshares (FFIN) Sets New 1-Year High and Low at $53.55

First Financial Bankshares, Inc. (NASDAQ:FFIN) reached a new 52-week high and low during trading on Monday . The stock traded as low as $53.55 and last traded at $53.25, with a volume of 5035 shares changing hands. The stock had previously closed at $53.15.

FFIN has been the topic of several recent research reports. BidaskClub downgraded shares of First Financial Bankshares from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 3rd. Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Tuesday, April 10th. ValuEngine raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $47.00 price objective on shares of First Financial Bankshares in a report on Tuesday, February 27th. Finally, Hovde Group set a $46.00 price objective on shares of First Financial Bankshares and gave the company a “hold” rating in a report on Monday, January 29th. One 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. The stock has a consensus rating of “Hold” and an average price target of $44.71.

The firm has a market cap of $3.62 billion, a P/E ratio of 31.24 and a beta of 1.26.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, April 19th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $89.87 million for the quarter, compared to the consensus estimate of $89.40 million. During the same period in the prior year, the firm posted $0.40 earnings per share. equities analysts expect that First Financial Bankshares, Inc. will post 2.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 15th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, June 14th. First Financial Bankshares’s dividend payout ratio is presently 44.71%.

In other news, Director David L. Copeland sold 7,362 shares of the stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $50.68, for a total value of $373,106.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.77% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of First Financial Bankshares by 3.2% in the first quarter. BlackRock Inc. now owns 8,591,007 shares of the bank’s stock worth $397,764,000 after buying an additional 267,863 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of First Financial Bankshares by 5.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,622,258 shares of the bank’s stock worth $73,083,000 after buying an additional 87,580 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of First Financial Bankshares by 3.6% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,482,163 shares of the bank’s stock worth $68,625,000 after buying an additional 51,583 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Financial Bankshares by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,208,642 shares of the bank’s stock worth $55,960,000 after buying an additional 29,367 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of First Financial Bankshares by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,177,634 shares of the bank’s stock worth $53,052,000 after buying an additional 32,593 shares in the last quarter. 51.52% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bankshares Company Profile

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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