First Financial Bankshares, Inc. (FFIN) Rating Reiterated by Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reissued their hold rating on shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) in a report released on Tuesday. The brokerage currently has a $39.00 price target on the bank’s stock.
Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of First Financial Bankshares from a buy rating to a hold rating in a report on Tuesday, September 26th. Piper Jaffray Companies reiterated a hold rating and issued a $41.00 target price on shares of First Financial Bankshares in a report on Friday, September 1st. BidaskClub downgraded shares of First Financial Bankshares from a sell rating to a strong sell rating in a report on Monday, August 14th. Finally, Stephens set a $39.00 price objective on shares of First Financial Bankshares and gave the stock a hold rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company currently has a consensus rating of Hold and an average target price of $41.00.
First Financial Bankshares (FFIN) opened at 45.55 on Tuesday. First Financial Bankshares has a 52-week low of $35.05 and a 52-week high of $46.70. The stock has a market capitalization of $2.99 billion, a PE ratio of 28.08 and a beta of 1.38. The firm has a 50-day moving average of $41.54 and a 200-day moving average of $41.04.
First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, July 20th. The bank reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. The firm 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%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. On average, equities analysts expect that First Financial Bankshares will post $1.70 EPS for the current year.
First Financial Bankshares announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, July 25th that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.76 annualized dividend and a dividend yield of 1.67%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 46.91%.
Several institutional investors have recently modified their holdings of FFIN. UBS Asset Management Americas Inc. boosted its position 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 valued at $4,215,000 after acquiring an additional 39,923 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of First Financial Bankshares during the 1st quarter valued at about $605,000. Ameriprise Financial Inc. boosted its position in shares of First Financial Bankshares by 4.7% during the 1st quarter. Ameriprise Financial Inc. now owns 352,171 shares of the bank’s stock valued at $14,123,000 after acquiring an additional 15,959 shares in the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of First Financial Bankshares by 11.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 53,617 shares of the bank’s stock valued at $2,150,000 after acquiring an additional 5,641 shares in the last quarter. Finally, Oxford Asset Management acquired a new stake in shares of First Financial Bankshares during the 1st quarter valued at about $358,000. Institutional investors and hedge funds own 50.12% of the company’s stock.
First Financial Bankshares Company Profile
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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