Zacks Investment Research Downgrades First Financial Bankshares (FFIN) to Hold
First Financial Bankshares (NASDAQ:FFIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
FFIN has been the topic of several other research reports. BidaskClub upgraded First Financial Bankshares from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. Stephens set a $52.00 price target on First Financial Bankshares and gave the company a “hold” rating in a report on Monday, October 22nd. Finally, Robert W. Baird initiated coverage on First Financial Bankshares in a report on Tuesday, October 16th. They set a “neutral” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $52.29.
First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, October 18th. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. First Financial Bankshares had a return on equity of 14.09% and a net margin of 39.25%. The company had revenue of $96.48 million for the quarter, compared to the consensus estimate of $97.34 million. During the same quarter last year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities analysts expect that First Financial Bankshares will post 2.19 EPS for the current year.
In related news, Director Johnny Trotter acquired 2,000 shares of the stock in a transaction dated Tuesday, October 23rd. The shares were acquired at an average price 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 in the company, valued at approximately $21,421,131.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.77% of the company’s stock.
Several institutional investors have recently made changes to their positions in FFIN. UBS Group AG grew its stake in shares of First Financial Bankshares by 15.1% in the first quarter. UBS Group AG now owns 15,021 shares of the bank’s stock worth $696,000 after acquiring an additional 1,974 shares during the last quarter. Royal Bank of Canada grew its stake in shares of First Financial Bankshares by 36.5% in the first quarter. Royal Bank of Canada now owns 15,610 shares of the bank’s stock worth $722,000 after acquiring an additional 4,174 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of First Financial Bankshares by 4.7% in the first quarter. Principal Financial Group Inc. now owns 546,906 shares of the bank’s stock worth $25,321,000 after acquiring an additional 24,444 shares during the last quarter. Amalgamated Bank grew its stake in shares of First Financial Bankshares by 16.3% in the second quarter. Amalgamated Bank now owns 10,614 shares of the bank’s stock worth $540,000 after acquiring an additional 1,485 shares during the last quarter. Finally, Creative Planning grew its stake in shares of First Financial Bankshares by 5.3% in the second quarter. Creative Planning now owns 23,851 shares of the bank’s stock worth $1,214,000 after acquiring an additional 1,203 shares during the last quarter. Institutional investors and hedge funds own 54.18% 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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