First Financial Bankshares Stock to Split on Monday, June 3rd (FFIN)

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.

WARNING: This report was first published by Enterprise Leader and is owned by of Enterprise Leader. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://theenterpriseleader.com/2019/05/26/first-financial-bankshares-stock-to-split-on-monday-june-3rd-ffin.html.

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.

Featured Article: Why is the price-sales ratio important?

Receive News & Ratings for First Financial Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.