First Financial Bankshares (FFIN) Lowered to Hold at BidaskClub

BidaskClub cut shares of First Financial Bankshares (NASDAQ:FFIN) from a buy rating to a hold rating in a research note released on Tuesday, December 5th.

A number of other brokerages have also issued reports on FFIN. Zacks Investment Research upgraded First Financial Bankshares from a hold rating to a buy rating and set a $43.00 target price for the company in a research note on Thursday, September 7th. Piper Jaffray Companies restated a hold rating and issued a $41.00 target price on shares of First Financial Bankshares in a research note on Friday, September 1st. Finally, Keefe, Bruyette & Woods restated a hold rating and issued a $39.00 target price on shares of First Financial Bankshares in a research note on Tuesday, October 3rd. Six research analysts have rated the stock with a hold rating, First Financial Bankshares presently has a consensus rating of Hold and an average price target of $43.40.

Shares of First Financial Bankshares (NASDAQ FFIN) traded down $1.35 on Tuesday, reaching $45.05. The company had a trading volume of 221,224 shares, compared to its average volume of 299,304. First Financial Bankshares has a twelve month low of $36.85 and a twelve month high of $48.85. The stock has a market cap of $3,072.89, a PE ratio of 26.98 and a beta of 1.40.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.44 EPS for the quarter, meeting the consensus estimate of $0.44. First Financial Bankshares had a return on equity of 12.70% and a net margin of 33.51%. The firm had revenue of $83.95 million during the quarter, compared to analyst estimates of $89.87 million. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. equities analysts forecast that First Financial Bankshares will post 1.7 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 18th will be paid a $0.19 dividend. The ex-dividend date is Friday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 1.69%. First Financial Bankshares’s dividend payout ratio (DPR) is 45.51%.

In related news, Director David L. Copeland sold 1,368 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $45.52, for a total value of $62,271.36. Following the completion of the transaction, the director now owns 33,379 shares in the company, valued at approximately $1,519,412.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.04% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in First Financial Bankshares by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock worth $102,000 after purchasing an additional 239 shares during the period. Riverhead Capital Management LLC grew its position in First Financial Bankshares by 63.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,593 shares of the bank’s stock worth $159,000 after purchasing an additional 1,393 shares during the period. Victory Capital Management Inc. grew its position in First Financial Bankshares by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,141 shares of the bank’s stock worth $183,000 after purchasing an additional 621 shares during the period. Milestone Group Inc. acquired a new stake in First Financial Bankshares during the 3rd quarter worth about $201,000. Finally, FCA Corp TX acquired a new stake in First Financial Bankshares during the 2nd quarter worth about $213,000. 51.37% of the stock is currently owned by institutional investors.

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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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