Zacks Investment Research Downgrades First Financial Bankshares Inc. (FFIN) to Sell
First Financial Bankshares Inc. (NASDAQ:FFIN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
Shares of First Financial Bankshares (NASDAQ:FFIN) opened at 35.80 on Thursday. The stock’s 50 day moving average is $35.47 and its 200 day moving average is $32.45. The firm has a market cap of $2.35 billion, a PE ratio of 22.95 and a beta of 1.37. First Financial Bankshares has a 12 month low of $24.12 and a 12 month high of $36.90.
First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. First Financial Bankshares had a net margin of 33.05% and a return on equity of 12.55%. Analysts forecast that First Financial Bankshares will post $1.60 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Tuesday, September 13th. First Financial Bankshares’s dividend payout ratio (DPR) is 45.57%.
Several hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of First Financial Bankshares during the fourth quarter valued at approximately $16,596,000. Commonwealth Equity Services Inc increased its stake in shares of First Financial Bankshares by 15.9% in the first quarter. Commonwealth Equity Services Inc now owns 56,250 shares of the company’s stock valued at $1,664,000 after buying an additional 7,727 shares during the period. Aperio Group LLC increased its stake in shares of First Financial Bankshares by 32.0% in the first quarter. Aperio Group LLC now owns 12,520 shares of the company’s stock valued at $370,000 after buying an additional 3,032 shares during the period. Pacad Investment Ltd. increased its stake in shares of First Financial Bankshares by 150.5% in the first quarter. Pacad Investment Ltd. now owns 27,800 shares of the company’s stock valued at $822,000 after buying an additional 16,700 shares during the period. Finally, Teachers Advisors Inc. increased its stake in shares of First Financial Bankshares by 6.6% in the first quarter. Teachers Advisors Inc. now owns 116,715 shares of the company’s stock valued at $3,452,000 after buying an additional 7,184 shares during the period. 45.72% of the stock is owned by institutional investors.
About First Financial Bankshares
First Financial Bankshares, Inc is a financial holding company. Through its subsidiaries, the Company conducts commercial banking business. It provides commercial banking services, which include accepting and holding checking, savings and time deposits, making loans, automated teller machines, drive-in and night deposit services, safe deposit facilities, remote deposit capture, Internet banking, mobile banking, payroll cards, transmitting funds and other customary commercial banking services.
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