First Financial Bankshares, Inc. (FFIN) Stock Rating Upgraded by 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 note issued to investors on Thursday. The brokerage presently has a $43.00 price target on the bank’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.21% from the stock’s current price.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
A number of other brokerages have also weighed in on FFIN. Stephens set a $39.00 price target on shares of First Financial Bankshares and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Piper Jaffray Companies restated a “hold” rating and set a $41.00 price target on shares of First Financial Bankshares in a report on Friday, July 21st. Finally, BidaskClub downgraded shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $40.80.
First Financial Bankshares (NASDAQ FFIN) traded down 2.46% during mid-day trading on Thursday, hitting $37.65. The company had a trading volume of 222,958 shares. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 23.21 and a beta of 1.36. The firm’s 50 day moving average is $41.43 and its 200 day moving average is $41.16. First Financial Bankshares has a 52 week low of $35.00 and a 52 week high of $46.70.
First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. First Financial Bankshares had a net margin of 33.03% and a return on equity of 12.41%. The business had revenue of $82.25 million for the quarter, compared to analyst estimates of $87.11 million. During the same period in the prior year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts predict that First Financial Bankshares will post $1.70 EPS for the current year.
First Financial Bankshares declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 25th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the bank to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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In other news, Director Ronald N. Giddiens sold 1,000 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $41.00, for a total transaction of $41,000.00. Following the transaction, the director now directly owns 13,816 shares in the company, valued at $566,456. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.04% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First Financial Bankshares by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock valued at $102,000 after purchasing an additional 239 shares in the last quarter. LS Investment Advisors LLC lifted its stake in shares of First Financial Bankshares by 20.6% during the first quarter. LS Investment Advisors LLC now owns 3,020 shares of the bank’s stock valued at $121,000 after buying an additional 516 shares during the period. Victory Capital Management Inc. lifted its stake in shares of First Financial Bankshares by 26.8% during the first quarter. Victory Capital Management Inc. now owns 3,520 shares of the bank’s stock valued at $141,000 after buying an additional 743 shares during the period. Riverhead Capital Management LLC lifted its stake in shares of First Financial Bankshares by 63.3% during the second quarter. Riverhead Capital Management LLC now owns 3,593 shares of the bank’s stock valued at $159,000 after buying an additional 1,393 shares during the period. Finally, FCA Corp TX purchased a new position in shares of First Financial Bankshares during the second quarter valued at approximately $213,000. 50.12% of the stock is currently owned by institutional investors.
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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