First Financial Bankshares (FFIN) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of First Financial Bankshares (NASDAQ:FFIN) from a buy rating to a hold rating in a research note published on Tuesday.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
FFIN has been the subject of several other reports. BidaskClub upgraded shares of First Financial Bankshares from a hold rating to a buy rating in a research note on Wednesday, September 12th. Stephens set a $52.00 price objective on shares of First Financial Bankshares and gave the stock a hold rating in a research note on Monday, October 22nd. Finally, Robert W. Baird started coverage on shares of First Financial Bankshares in a research note on Tuesday, October 16th. They set a neutral rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. First Financial Bankshares has a consensus rating of Hold and a consensus price target of $51.71.
First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, October 18th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. First Financial Bankshares had a net margin of 39.25% and a return on equity of 14.09%. The company had revenue of $96.48 million during the quarter, compared to the consensus estimate of $97.34 million. During the same period in the previous year, the firm earned $0.44 earnings per share. First Financial Bankshares’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts predict that First Financial Bankshares will post 2.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be paid a $0.21 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.36%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 49.41%.
In other news, Director Johnny Trotter bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 23rd. The stock was acquired at an average cost of $55.65 per share, for a total transaction of $111,300.00. Following the completion of the purchase, the director now owns 384,926 shares of the company’s stock, valued at $21,421,131.90. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 4.77% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in FFIN. Aperio Group LLC boosted its stake in shares of First Financial Bankshares by 4.7% in the second quarter. Aperio Group LLC now owns 20,910 shares of the bank’s stock valued at $1,064,000 after purchasing an additional 936 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of First Financial Bankshares by 28.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 33,821 shares of the bank’s stock valued at $1,722,000 after purchasing an additional 7,489 shares during the period. Alps Advisors Inc. boosted its stake in First Financial Bankshares by 19.4% during the 2nd quarter. Alps Advisors Inc. now owns 11,731 shares of the bank’s stock valued at $528,000 after acquiring an additional 1,908 shares during the last quarter. Smith Asset Management Group LP boosted its stake in First Financial Bankshares by 10.8% during the 2nd quarter. Smith Asset Management Group LP now owns 13,800 shares of the bank’s stock valued at $702,000 after acquiring an additional 1,350 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in First Financial Bankshares by 1.1% during the 2nd quarter. Wells Fargo & Company MN now owns 349,739 shares of the bank’s stock valued at $17,801,000 after acquiring an additional 3,891 shares during the last quarter. Institutional investors and hedge funds own 54.33% of the company’s stock.
About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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