First Financial Bankshares, Inc. (FFIN) Cut to Sell at BidaskClub
First Financial Bankshares, Inc. (NASDAQ:FFIN) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
A number of other equities analysts also recently issued reports on FFIN. Zacks Investment Research downgraded First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th. Stephens reissued a “hold” rating on shares of First Financial Bankshares in a research report on Monday, April 24th. Keefe, Bruyette & Woods raised First Financial Bankshares from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $37.00 to $38.00 in a research report on Friday, April 21st. Finally, Hovde Group raised First Financial Bankshares from an “underperform” rating to a “market perform” rating and set a $43.00 price target on the stock in a research report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. First Financial Bankshares presently has an average rating of “Hold” and a consensus price target of $42.00.
Shares of First Financial Bankshares (FFIN) traded up 0.47% during mid-day trading on Wednesday, hitting $42.95. 190,383 shares of the stock were exchanged. First Financial Bankshares has a 12 month low of $33.29 and a 12 month high of $46.70. The firm has a market cap of $2.84 billion, a P/E ratio of 26.48 and a beta of 1.35. The stock’s 50 day moving average is $42.12 and its 200 day moving average is $41.57.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. First Financial Bankshares had a return on equity of 12.53% and a net margin of 33.03%. The business had revenue of $82.25 million for the quarter, compared to the consensus estimate of $87.11 million. During the same quarter in the prior year, the company earned $0.41 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that First Financial Bankshares will post $1.69 EPS for the current fiscal year.
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In related news, Director Johnny Trotter acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were bought at an average price of $38.55 per share, with a total value of $38,550.00. Following the completion of the transaction, the director now directly owns 388,938 shares in the company, valued at $14,993,559.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David L. Copeland sold 684 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $38.00, for a total value of $25,992.00. Following the sale, the director now directly owns 33,379 shares in the company, valued at approximately $1,268,402. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 3,230 shares of company stock worth $127,549. 5.04% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of FFIN. LS Investment Advisors LLC boosted its stake in First Financial Bankshares by 20.6% in the first quarter. LS Investment Advisors LLC now owns 3,020 shares of the bank’s stock worth $121,000 after buying an additional 516 shares during the period. Victory Capital Management Inc. boosted its stake in First Financial Bankshares by 26.8% in the first quarter. Victory Capital Management Inc. now owns 3,520 shares of the bank’s stock worth $141,000 after buying an additional 743 shares during the period. Bank of Montreal Can boosted its stake in First Financial Bankshares by 9.0% in the first quarter. Bank of Montreal Can now owns 5,151 shares of the bank’s stock worth $207,000 after buying an additional 426 shares during the period. Tudor Investment Corp Et Al acquired a new stake in First Financial Bankshares during the fourth quarter worth approximately $251,000. Finally, AQR Capital Management LLC boosted its stake in First Financial Bankshares by 1.2% in the fourth quarter. AQR Capital Management LLC now owns 6,041 shares of the bank’s stock worth $273,000 after buying an additional 70 shares during the period. 49.88% of the stock is currently owned by institutional investors.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.
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