First Financial Bankshares, Inc. (FFIN) Downgraded to Hold at Zacks Investment Research
First Financial Bankshares, Inc. (NASDAQ:FFIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
FFIN has been the subject of a number of other reports. Piper Jaffray Companies reaffirmed a “hold” rating and set a $41.00 price target on shares of First Financial Bankshares in a report on Friday, July 21st. BidaskClub lowered shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Stephens set a $39.00 price target on shares of First Financial Bankshares and gave the company a “hold” rating in a report on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $42.00 price objective on shares of First Financial Bankshares in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. First Financial Bankshares presently has a consensus rating of “Hold” and an average target price of $43.40.
First Financial Bankshares (NASDAQ FFIN) traded up 0.88% during midday trading on Tuesday, hitting $45.65. 196,268 shares of the stock traded hands. First Financial Bankshares has a one year low of $35.05 and a one year high of $47.90. The company has a market cap of $3.00 billion, a PE ratio of 28.14 and a beta of 1.38. The company’s 50-day moving average is $44.40 and its 200-day moving average is $41.87.
First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.44 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.44. The business had revenue of $83.95 million during the quarter, compared to analyst estimates of $89.87 million. First Financial Bankshares had a net margin of 33.51% and a return on equity of 12.70%. The business’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. Equities research analysts expect that First Financial Bankshares will post $1.71 EPS for the current fiscal year.
First Financial Bankshares declared that its board has approved a share buyback plan on Tuesday, July 25th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of hedge funds and other institutional investors have recently bought and sold shares of FFIN. BlackRock Inc. boosted its stake in First Financial Bankshares by 84,122.7% during the 1st quarter. BlackRock Inc. now owns 7,960,731 shares of the bank’s stock valued at $319,224,000 after acquiring an additional 7,951,279 shares during the last quarter. State Street Corp boosted its stake in First Financial Bankshares by 23.8% during the 1st quarter. State Street Corp now owns 2,081,757 shares of the bank’s stock valued at $83,472,000 after acquiring an additional 400,296 shares during the last quarter. Vanguard Group Inc. boosted its stake in First Financial Bankshares by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 5,750,394 shares of the bank’s stock valued at $230,590,000 after acquiring an additional 310,827 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in First Financial Bankshares by 21.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,013,016 shares of the bank’s stock valued at $44,775,000 after acquiring an additional 176,003 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in First Financial Bankshares by 16.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,053,435 shares of the bank’s stock valued at $42,243,000 after acquiring an additional 147,378 shares during the last quarter. Hedge funds and other institutional investors own 50.08% 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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