First Financial Bankshares, Inc. (NASDAQ:FFIN) Upgraded at Zacks Investment Research
First Financial Bankshares, Inc. (NASDAQ:FFIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $49.00 price objective on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 13.03% from the company’s previous close.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
Other equities analysts have also recently issued reports about the company. BidaskClub cut First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Stephens reiterated a “hold” rating on shares of First Financial Bankshares in a report on Monday, April 24th. Piper Jaffray Companies reiterated a “hold” rating and issued a $41.00 target price on shares of First Financial Bankshares in a report on Friday, July 21st. Finally, Keefe, Bruyette & Woods upgraded First Financial Bankshares from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $37.00 to $38.00 in a report on Friday, April 21st. One 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 stock. First Financial Bankshares currently has an average rating of “Hold” and an average target price of $42.75.
First Financial Bankshares (FFIN) traded down 1.81% on Wednesday, hitting $43.35. 167,288 shares of the stock traded hands. The stock has a market cap of $2.87 billion, a P/E ratio of 26.73 and a beta of 1.35. The stock has a 50-day moving average price of $42.34 and a 200 day moving average price of $41.52. First Financial Bankshares has a 12-month low of $33.29 and a 12-month high of $46.70.
First Financial Bankshares (NASDAQ:FFIN) last issued its 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 12.41% and a net margin of 33.03%. The company had revenue of $82.25 million for the quarter, compared to analysts’ expectations of $87.11 million. During the same period last year, the business earned $0.41 EPS. First Financial Bankshares’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts expect that First Financial Bankshares will post $1.70 EPS for the current fiscal year.
First Financial Bankshares declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 25th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
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In other First Financial Bankshares news, Director David L. Copeland sold 684 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $38.00, for a total transaction of $25,992.00. Following the transaction, the director now directly owns 33,379 shares in the company, valued at approximately $1,268,402. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Johnny Trotter acquired 1,000 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were bought at an average price of $38.55 per share, for a total transaction of $38,550.00. Following the completion of the purchase, the director now owns 388,938 shares in the company, valued at approximately $14,993,559.90. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,230 shares of company stock worth $127,549. Company insiders own 5.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in shares of First Financial Bankshares by 1.2% in the fourth quarter. AQR Capital Management LLC now owns 6,041 shares of the bank’s stock valued at $273,000 after buying an additional 70 shares during the period. Norges Bank bought a new position in shares of First Financial Bankshares during the fourth quarter valued at $24,266,000. Teachers Advisors LLC boosted its position in shares of First Financial Bankshares by 11.4% in the fourth quarter. Teachers Advisors LLC now owns 121,884 shares of the bank’s stock valued at $5,509,000 after buying an additional 12,449 shares during the period. Bank of Montreal Can boosted its position in shares of First Financial Bankshares by 9.0% in the first quarter. Bank of Montreal Can now owns 5,151 shares of the bank’s stock valued at $207,000 after buying an additional 426 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of First Financial Bankshares by 1.1% in the first quarter. Louisiana State Employees Retirement System now owns 26,900 shares of the bank’s stock valued at $1,079,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 49.89% of the company’s stock.
About First Financial Bankshares
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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