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 presently covering the stock, MarketBeat.com reports. 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. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $40.80.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th. BidaskClub raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Piper Jaffray Companies reissued a “hold” rating and issued a $41.00 price objective on shares of First Financial Bankshares in a research report on Friday, July 21st. Finally, Stephens set a $39.00 price objective on shares of First Financial Bankshares and gave the company a “hold” rating in a research report on Wednesday, August 2nd.
Shares of First Financial Bankshares (NASDAQ:FFIN) traded up 0.27% on Friday, reaching $37.75. 237,586 shares of the company traded hands. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 23.27 and a beta of 1.36. First Financial Bankshares has a 52-week low of $35.00 and a 52-week high of $46.70. The stock has a 50 day moving average of $41.14 and a 200 day moving average of $41.11.
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 the Thomson Reuters’ 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 firm 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 firm posted $0.41 earnings per share. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts expect that First Financial Bankshares will post $1.70 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 14th. First Financial Bankshares’s payout ratio is presently 46.91%.
First Financial Bankshares declared that its Board of Directors has authorized a stock buyback plan on Tuesday, July 25th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
Institutional investors and hedge funds have recently modified their holdings of the company. Mason Street Advisors LLC raised its position in shares of First Financial Bankshares by 7.1% in the first quarter. Mason Street Advisors LLC now owns 15,463 shares of the bank’s stock valued at $620,000 after purchasing an additional 1,027 shares during the period. State of Alaska Department of Revenue increased its position in First Financial Bankshares by 78.1% during the second quarter. State of Alaska Department of Revenue now owns 13,056 shares of the bank’s stock worth $577,000 after acquiring an additional 5,726 shares during the period. Vanguard Group Inc. increased its position in First Financial Bankshares by 5.7% during the first quarter. Vanguard Group Inc. now owns 5,750,394 shares of the bank’s stock worth $230,590,000 after acquiring an additional 310,827 shares during the period. FCA Corp TX bought a new position in First Financial Bankshares during the second quarter worth about $213,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in First Financial Bankshares by 21.0% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,013,016 shares of the bank’s stock worth $44,775,000 after acquiring an additional 176,003 shares during the period. 50.12% 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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