First Financial Bankshares (FFIN) Coverage Initiated by Analysts at Robert W. Baird
Robert W. Baird began coverage on shares of First Financial Bankshares (NASDAQ:FFIN) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $60.00 price objective on the bank’s stock.
A number of other analysts have also weighed in on FFIN. Zacks Investment Research upgraded First Financial Bankshares from a hold rating to a buy rating and set a $61.00 target price on the stock in a research note on Wednesday, June 20th. BidaskClub upgraded First Financial Bankshares from a hold rating to a buy rating in a research note on Thursday, June 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $50.67.
FFIN stock opened at $57.31 on Tuesday. First Financial Bankshares has a twelve month low of $43.05 and a twelve month high of $61.86. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 33.71 and a beta of 1.26.
The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 17th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, September 14th. This represents a $0.84 annualized dividend and a dividend yield of 1.47%. First Financial Bankshares’s dividend payout ratio is currently 49.41%.
Several institutional investors have recently made changes to their positions in FFIN. BlackRock Inc. increased its stake in shares of First Financial Bankshares by 9.8% during the second quarter. BlackRock Inc. now owns 9,432,736 shares of the bank’s stock valued at $480,129,000 after buying an additional 841,729 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of First Financial Bankshares by 337.8% during the second quarter. Commonwealth Equity Services LLC now owns 184,439 shares of the bank’s stock valued at $9,388,000 after buying an additional 142,307 shares during the period. Sei Investments Co. boosted its position in First Financial Bankshares by 1,457.6% during the first quarter. Sei Investments Co. now owns 51,229 shares of the bank’s stock valued at $2,372,000 after purchasing an additional 47,940 shares in the last quarter. Northern Trust Corp boosted its position in First Financial Bankshares by 5.6% during the second quarter. Northern Trust Corp now owns 859,020 shares of the bank’s stock valued at $43,726,000 after purchasing an additional 45,374 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in First Financial Bankshares by 46.5% during the second quarter. First Trust Advisors LP now owns 116,164 shares of the bank’s stock valued at $5,913,000 after purchasing an additional 36,881 shares in the last quarter. Hedge funds and other institutional investors own 53.78% of the company’s stock.
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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