First Financial Bankshares, Inc. (FFIN) Given Consensus Recommendation of “Hold” by Brokerages
Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) have been given a consensus recommendation of “Hold” by the six research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $42.00.
FFIN has been the topic of a number of research reports. Zacks Investment Research raised First Financial Bankshares from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Friday, June 9th. Keefe, Bruyette & Woods raised First Financial Bankshares from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $37.00 to $38.00 in a report on Friday, April 21st. BidaskClub raised First Financial Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Piper Jaffray Companies reissued a “hold” rating and set a $41.00 price objective on shares of First Financial Bankshares in a report on Friday, July 21st. Finally, Stephens reissued a “hold” rating on shares of First Financial Bankshares in a report on Monday, April 24th.
In related news, Director Johnny Trotter purchased 1,000 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, June 1st. The shares were acquired at an average cost of $38.55 per share, for a total transaction of $38,550.00. Following the transaction, the director now directly owns 388,938 shares in the company, valued at $14,993,559.90. The transaction 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 that occurred on Wednesday, May 31st. The stock was sold at an average price of $38.00, for a total value of $25,992.00. Following the transaction, the director now owns 33,379 shares in the company, valued at $1,268,402. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 1,855 shares of company stock worth $72,859. 5.40% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in First Financial Bankshares by 84,122.7% in the first quarter. BlackRock Inc. now owns 7,960,731 shares of the bank’s stock valued at $319,224,000 after buying an additional 7,951,279 shares during the last quarter. Vanguard Group Inc. raised its position in First Financial Bankshares by 1.3% in the second quarter. Vanguard Group Inc. now owns 5,827,897 shares of the bank’s stock valued at $257,594,000 after buying an additional 77,503 shares during the last quarter. State Street Corp raised its position in First Financial Bankshares by 23.8% in the first quarter. State Street Corp now owns 2,081,757 shares of the bank’s stock valued at $83,472,000 after buying an additional 400,296 shares during the last quarter. Bank of New York Mellon Corp raised its position in First Financial Bankshares by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 1,173,105 shares of the bank’s stock valued at $51,851,000 after buying an additional 45,338 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in First Financial Bankshares by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,078,829 shares of the bank’s stock valued at $47,685,000 after buying an additional 25,394 shares during the last quarter. Institutional investors and hedge funds own 49.82% of the company’s stock.
First Financial Bankshares (NASDAQ:FFIN) traded down 1.08% during mid-day trading on Tuesday, hitting $41.05. The stock had a trading volume of 85,988 shares. First Financial Bankshares has a 52 week low of $35.00 and a 52 week high of $46.70. The firm has a market cap of $2.70 billion, a PE ratio of 25.31 and a beta of 1.34. The company’s 50 day moving average price is $42.99 and its 200 day moving average price is $41.45.
First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The company had revenue of $82.25 million for the quarter, compared to analysts’ expectations of $87.11 million. First Financial Bankshares had a return on equity of 12.41% and a net margin of 33.03%. First Financial Bankshares’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. Analysts anticipate that First Financial Bankshares will post $1.70 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.85%. First Financial Bankshares’s dividend payout ratio is 46.91%.
First Financial Bankshares declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 25th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
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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