First Financial Bankshares Inc (NASDAQ:FFIN) shares are going to split on Monday, June 3rd. The 2-1 split was announced on Tuesday, April 23rd. The newly created shares will be payable to shareholders after the market closes on Friday, May 31st.
NASDAQ:FFIN opened at $59.91 on Friday. First Financial Bankshares has a fifty-two week low of $50.55 and a fifty-two week high of $66.83. The firm has a market cap of $8.13 billion, a P/E ratio of 27.48 and a beta of 1.14.
First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, April 18th. The bank reported $0.56 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. First Financial Bankshares had a return on equity of 15.03% and a net margin of 38.47%. The company had revenue of $95.77 million for the quarter, compared to analyst estimates of $96.90 million. During the same quarter in the prior year, the firm posted $0.51 EPS. As a group, equities analysts forecast that First Financial Bankshares will post 2.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, June 14th. This represents a $0.48 annualized dividend and a yield of 0.80%. First Financial Bankshares’s payout ratio is presently 38.53%.
FFIN has been the topic of several recent research reports. Zacks Investment Research upgraded First Financial Bankshares from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Monday, April 1st. BidaskClub upgraded First Financial Bankshares from a “hold” rating to a “buy” rating in a research note on Saturday, February 9th. ValuEngine lowered First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. Finally, Stephens reiterated a “neutral” rating and issued a $57.00 target price on shares of First Financial Bankshares in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $60.67.
In other First Financial Bankshares news, Director Johnny Trotter bought 2,000 shares of First Financial Bankshares stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $60.67 per share, for a total transaction of $121,340.00. Following the completion of the purchase, the director now directly owns 405,913 shares in the company, valued at approximately $24,626,741.71. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David L. Copeland sold 5,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $61.68, for a total value of $308,400.00. Following the completion of the sale, the director now owns 34,094 shares in the company, valued at approximately $2,102,917.92. The disclosure for this sale can be found here. In the last quarter, insiders acquired 15,346 shares of company stock worth $936,323. Insiders own 4.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its holdings in shares of First Financial Bankshares by 33.5% during the 3rd quarter. AQR Capital Management LLC now owns 5,248 shares of the bank’s stock worth $310,000 after buying an additional 1,318 shares during the period. Vanguard Group Inc boosted its holdings in shares of First Financial Bankshares by 2.1% during the 3rd quarter. Vanguard Group Inc now owns 6,569,285 shares of the bank’s stock worth $388,245,000 after buying an additional 138,088 shares during the period. Bank of Montreal Can boosted its holdings in shares of First Financial Bankshares by 9.2% during the 4th quarter. Bank of Montreal Can now owns 5,479 shares of the bank’s stock worth $315,000 after buying an additional 462 shares during the period. Strs Ohio boosted its holdings in shares of First Financial Bankshares by 27.8% during the 4th quarter. Strs Ohio now owns 9,200 shares of the bank’s stock worth $530,000 after buying an additional 2,000 shares during the period. Finally, Quantamental Technologies LLC bought a new stake in shares of First Financial Bankshares during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 55.53% of the company’s stock.
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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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