First Financial Bankshares’ (FFIN) “Hold” Rating Reiterated at Stephens

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First Financial Bankshares (NASDAQ:FFIN)‘s stock had its “hold” rating reiterated by analysts at Stephens in a note issued to investors on Wednesday. They currently have a $56.00 price objective on the bank’s stock. Stephens’ price objective indicates a potential downside of 1.94% from the stock’s previous close.

A number of other research firms also recently issued reports on FFIN. Zacks Investment Research downgraded First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Monday, November 19th. BidaskClub upgraded First Financial Bankshares from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. First Financial Bankshares has an average rating of “Hold” and a consensus price target of $52.14.

FFIN opened at $57.11 on Wednesday. The stock has a market capitalization of $3.96 billion, a PE ratio of 33.59 and a beta of 1.14. First Financial Bankshares has a one year low of $44.05 and a one year high of $66.83.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, October 18th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $96.48 million for the quarter, compared to the consensus estimate of $97.34 million. First Financial Bankshares had a return on equity of 14.09% and a net margin of 39.25%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. As a group, sell-side analysts forecast that First Financial Bankshares will post 2.19 earnings per share for the current year.

In other news, Director Johnny Trotter purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 23rd. The shares were purchased at an average price of $55.65 per share, for a total transaction of $111,300.00. Following the purchase, the director now directly owns 384,926 shares of the company’s stock, valued at approximately $21,421,131.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.77% of the company’s stock.

Several hedge funds have recently made changes to their positions in the business. Glen Harbor Capital Management LLC grew its stake in shares of First Financial Bankshares by 14.9% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 6,798 shares of the bank’s stock valued at $346,000 after purchasing an additional 880 shares during the last quarter. Aperio Group LLC grew its stake in shares of First Financial Bankshares by 4.7% in the 2nd 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 last quarter. American International Group Inc. grew its stake in shares of First Financial Bankshares by 1.9% in the 3rd quarter. American International Group Inc. now owns 51,368 shares of the bank’s stock valued at $3,036,000 after purchasing an additional 977 shares during the last quarter. Pinebridge Investments L.P. grew its stake in shares of First Financial Bankshares by 2.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 44,903 shares of the bank’s stock valued at $2,286,000 after purchasing an additional 1,033 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of First Financial Bankshares by 33.5% in the 3rd quarter. AQR Capital Management LLC now owns 5,248 shares of the bank’s stock valued at $310,000 after purchasing an additional 1,318 shares during the last quarter. Institutional investors own 54.30% 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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Analyst Recommendations for First Financial Bankshares (NASDAQ:FFIN)

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