First Financial Bankshares (NASDAQ:FFIN) PT Raised to $40.00 at Hovde Group

First Financial Bankshares (NASDAQ:FFIN - Free Report) had its price objective lifted by Hovde Group from $34.50 to $40.00 in a report released on Monday, MarketBeat Ratings reports. They currently have a market perform rating on the bank's stock.

A number of other equities research analysts have also weighed in on FFIN. Stephens boosted their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday. Truist Financial upped their price target on First Financial Bankshares from $39.00 to $40.00 and gave the company a "hold" rating in a research report on Friday, September 20th.

First Financial Bankshares Price Performance

FFIN stock traded down $1.38 during midday trading on Monday, reaching $37.02. 381,440 shares of the stock were exchanged, compared to its average volume of 542,603. The stock has a market capitalization of $5.29 billion, a PE ratio of 26.44 and a beta of 0.78. First Financial Bankshares has a 52 week low of $22.84 and a 52 week high of $39.53. The company has a fifty day moving average price of $36.49 and a 200 day moving average price of $33.05.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The business had revenue of $184.94 million for the quarter, compared to analyst estimates of $134.10 million. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. As a group, analysts anticipate that First Financial Bankshares will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.94%. First Financial Bankshares's dividend payout ratio (DPR) is presently 51.43%.

Institutional Investors Weigh In On First Financial Bankshares

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of First Financial Bankshares by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank's stock valued at $490,717,000 after buying an additional 490,770 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of First Financial Bankshares by 480.0% during the 2nd quarter. SG Americas Securities LLC now owns 39,602 shares of the bank's stock valued at $1,169,000 after purchasing an additional 32,774 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of First Financial Bankshares during the 1st quarter valued at about $1,100,000. Bridges Investment Management Inc. bought a new stake in shares of First Financial Bankshares during the 2nd quarter valued at about $637,000. Finally, Bank of New York Mellon Corp boosted its position in shares of First Financial Bankshares by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,375,856 shares of the bank's stock valued at $40,629,000 after purchasing an additional 15,473 shares in the last quarter. Institutional investors own 69.78% of the company's stock.

About First Financial Bankshares

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.