First Financial Bankshares, Inc. (FFIN) Short Interest Down 13.3% in August
First Financial Bankshares, Inc. (NASDAQ:FFIN) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 7,079,168 shares, a decrease of 13.3% from the August 15th total of 8,169,197 shares. Currently, 13.6% of the shares of the stock are sold short. Based on an average trading volume of 115,436 shares, the short-interest ratio is currently 61.3 days.
A number of analysts have commented on FFIN shares. Zacks Investment Research upgraded shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Thursday, September 7th. 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, September 1st. BidaskClub downgraded shares of First Financial Bankshares from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, Stephens set a $39.00 price target on shares of First Financial Bankshares and gave the stock a “hold” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $40.80.
Shares of First Financial Bankshares (NASDAQ:FFIN) opened at 40.50 on Friday. The stock’s 50 day moving average is $40.75 and its 200-day moving average is $40.98. First Financial Bankshares has a one year low of $35.05 and a one year high of $46.70. The firm has a market cap of $2.66 billion, a P/E ratio of 24.97 and a beta of 1.36.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $82.25 million during the quarter, compared to analyst estimates of $87.11 million. First Financial Bankshares had a net margin of 33.03% and a return on equity of 12.41%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 earnings per share. Analysts anticipate that First Financial Bankshares will post $1.70 EPS for the current fiscal year.
The company 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 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, September 14th. First Financial Bankshares’s dividend payout ratio is presently 46.91%.
First Financial Bankshares declared that its board has authorized a share repurchase plan on Tuesday, July 25th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Several large investors have recently bought and sold shares of FFIN. Amalgamated Bank increased its position in First Financial Bankshares by 2.6% during the second quarter. Amalgamated Bank now owns 8,768 shares of the bank’s stock worth $388,000 after purchasing an additional 225 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in First Financial Bankshares by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock worth $102,000 after purchasing an additional 239 shares during the last quarter. Strs Ohio increased its position in First Financial Bankshares by 6.4% during the second quarter. Strs Ohio now owns 5,000 shares of the bank’s stock worth $221,000 after purchasing an additional 300 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in First Financial Bankshares by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 49,887 shares of the bank’s stock worth $2,206,000 after purchasing an additional 361 shares during the last quarter. Finally, Arizona State Retirement System increased its position in First Financial Bankshares by 1.2% during the first quarter. Arizona State Retirement System now owns 34,460 shares of the bank’s stock worth $1,382,000 after purchasing an additional 400 shares during the last quarter. 50.12% of the stock is owned by institutional investors and hedge funds.
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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