First Financial Bankshares (FFIN) Rating Increased to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a strong-buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $53.00 price target on the bank’s stock.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
Several other brokerages also recently issued reports on FFIN. BidaskClub downgraded First Financial Bankshares from a buy rating to a hold rating in a research report on Tuesday, December 5th. Keefe, Bruyette & Woods restated a hold rating and set a $42.00 price objective on shares of First Financial Bankshares in a research report on Friday, October 20th. Finally, SunTrust Banks restated a hold rating and set a $48.00 price objective on shares of First Financial Bankshares in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $44.33.
First Financial Bankshares (NASDAQ FFIN) traded up $0.15 during mid-day trading on Wednesday, hitting $47.85. 159,311 shares of the stock were exchanged, compared to its average volume of 293,682. First Financial Bankshares has a 52 week low of $36.85 and a 52 week high of $48.85. The firm has a market cap of $3,168.91, a P/E ratio of 28.65 and a beta of 1.40.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.44 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.44. First Financial Bankshares had a net margin of 33.51% and a return on equity of 12.70%. The company had revenue of $83.95 million during the quarter, compared to the consensus estimate of $89.87 million. During the same period last year, the firm earned $0.39 EPS. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. analysts anticipate that First Financial Bankshares will post 1.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 18th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, December 15th. This represents a $0.76 annualized dividend and a dividend yield of 1.59%. First Financial Bankshares’s dividend payout ratio is currently 45.51%.
In related news, Director David L. Copeland sold 1,368 shares of First Financial Bankshares stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $45.52, for a total transaction of $62,271.36. Following the completion of the transaction, the director now directly owns 33,379 shares in the company, valued at approximately $1,519,412.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.04% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its stake in First Financial Bankshares by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,078,829 shares of the bank’s stock worth $47,685,000 after acquiring an additional 25,394 shares during the period. Alps Advisors Inc. purchased a new stake in First Financial Bankshares in the 3rd quarter worth approximately $631,000. Crossmark Global Holdings Inc. purchased a new stake in First Financial Bankshares in the 3rd quarter worth approximately $580,000. Bbva Compass Bancshares Inc. grew its stake in First Financial Bankshares by 20.5% in the 3rd quarter. Bbva Compass Bancshares Inc. now owns 19,283 shares of the bank’s stock worth $871,000 after acquiring an additional 3,275 shares during the period. Finally, FDx Advisors Inc. purchased a new stake in First Financial Bankshares in the 3rd quarter worth approximately $390,000. Hedge funds and other institutional investors own 51.37% of the company’s stock.
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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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