First Financial Bankshares, Inc. (FFIN) Receives Hold Rating from Keefe, Bruyette & Woods
First Financial Bankshares, Inc. (NASDAQ:FFIN)‘s stock had its “hold” rating reiterated by research analysts at Keefe, Bruyette & Woods in a report released on Tuesday. They currently have a $39.00 price objective on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 14.10% from the company’s current price.
FFIN has been the subject of a number of other research reports. Zacks Investment Research upgraded shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research note on Wednesday, August 23rd. Piper Jaffray Companies restated a “hold” rating and set a $41.00 price objective on shares of First Financial Bankshares in a research note on Friday, September 1st. Finally, BidaskClub lowered shares of First Financial Bankshares from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. First Financial Bankshares has an average rating of “Hold” and a consensus target price of $41.00.
Shares of First Financial Bankshares (NASDAQ FFIN) traded down 1.20% on Tuesday, reaching $45.40. 236,730 shares of the company traded hands. First Financial Bankshares has a 52-week low of $35.05 and a 52-week high of $46.70. The stock has a 50 day moving average of $41.12 and a 200 day moving average of $40.96. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 27.99 and a beta of 1.38.
First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. The business had revenue of $82.25 million for the quarter, compared to the consensus estimate of $87.11 million. First Financial Bankshares had a net margin of 33.03% and a return on equity of 12.41%. During the same period in the previous year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts expect that First Financial Bankshares will post $1.70 earnings per share for the current year.
First Financial Bankshares announced that its board has initiated a share repurchase program on Tuesday, July 25th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its holdings in shares of First Financial Bankshares by 61.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 105,103 shares of the bank’s stock worth $4,215,000 after buying an additional 39,923 shares during the period. Karp Capital Management Corp acquired a new position in First Financial Bankshares in the 1st quarter valued at about $605,000. Ameriprise Financial Inc. grew its stake in First Financial Bankshares by 4.7% in the 1st quarter. Ameriprise Financial Inc. now owns 352,171 shares of the bank’s stock valued at $14,123,000 after buying an additional 15,959 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in First Financial Bankshares by 11.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 53,617 shares of the bank’s stock valued at $2,150,000 after buying an additional 5,641 shares during the last quarter. Finally, Oxford Asset Management acquired a new position in First Financial Bankshares in the 1st quarter valued at about $358,000. Institutional investors own 50.12% 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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