Keefe, Bruyette & Woods Lowers First Financial Bankshares (NASDAQ:FFIN) Price Target to $36.00

First Financial Bankshares (NASDAQ:FFIN) had its price objective reduced by Keefe, Bruyette & Woods from $38.00 to $36.00 in a report issued on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Separately, Hovde Group cut their price target on First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Monday.

First Financial Bankshares Stock Down 1.3 %

NASDAQ:FFIN opened at $32.25 on Monday. First Financial Bankshares has a 52 week low of $27.62 and a 52 week high of $44.66. The company has a market cap of $4.61 billion, a PE ratio of 20.67 and a beta of 0.82. The business’s 50 day moving average is $35.20 and its two-hundred day moving average is $37.23.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, April 17th. The bank reported $0.43 earnings per share for the quarter, meeting the consensus estimate of $0.43. First Financial Bankshares had a net margin of 29.69% and a return on equity of 14.24%. The firm had revenue of $149.02 million during the quarter, compared to analyst estimates of $149.48 million. As a group, sell-side analysts expect that First Financial Bankshares will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is 44.44%.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Johnny Trotter acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the purchase, the director now directly owns 949,371 shares of the company’s stock, valued at $33,341,909.52. The trade was a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FFIN. Strategic Financial Concepts LLC grew its stake in shares of First Financial Bankshares by 3,508.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,807,834 shares of the bank’s stock worth $101,222,000 after purchasing an additional 2,730,017 shares during the last quarter. Norges Bank bought a new stake in shares of First Financial Bankshares during the 4th quarter worth $47,757,000. Axiom Investors LLC DE acquired a new stake in shares of First Financial Bankshares during the fourth quarter worth $16,937,000. Raymond James Financial Inc. acquired a new position in shares of First Financial Bankshares in the 4th quarter valued at $8,341,000. Finally, JPMorgan Chase & Co. increased its stake in First Financial Bankshares by 48.9% in the 4th quarter. JPMorgan Chase & Co. now owns 687,300 shares of the bank’s stock worth $24,777,000 after purchasing an additional 225,574 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

First Financial Bankshares Company Profile

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.