First Financial Bankshares Inc. (FFIN) Rating Lowered to Underperform at Keefe, Bruyette & Woods
First Financial Bankshares Inc. (NASDAQ:FFIN) was downgraded by investment analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “underperform” rating in a research report issued on Tuesday. They currently have a $37.00 target price on the stock, up from their prior target price of $30.00. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 14.05% from the company’s current price.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research raised First Financial Bankshares from a “sell” rating to a “hold” rating in a report on Friday, November 25th. Hovde Group cut First Financial Bankshares from a “market perform” rating to an “underperform” rating and boosted their price objective for the company from $37.50 to $43.00 in a report on Friday, November 18th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.67.
Shares of First Financial Bankshares (NASDAQ:FFIN) opened at 43.05 on Tuesday. The stock has a 50 day moving average price of $39.21 and a 200 day moving average price of $35.61. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 27.60 and a beta of 1.22. First Financial Bankshares has a 1-year low of $24.12 and a 1-year high of $46.70.
First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, October 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. First Financial Bankshares had a net margin of 32.69% and a return on equity of 12.23%. During the same period last year, the firm posted $0.40 earnings per share. On average, equities analysts anticipate that First Financial Bankshares will post $1.58 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 1.67%. First Financial Bankshares’s dividend payout ratio is presently 45.86%.
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Several institutional investors have recently made changes to their positions in FFIN. GSA Capital Partners LLP acquired a new position in shares of First Financial Bankshares during the second quarter valued at $859,000. Commonwealth Equity Services Inc raised its stake in First Financial Bankshares by 0.8% in the second quarter. Commonwealth Equity Services Inc now owns 56,689 shares of the company’s stock valued at $1,859,000 after buying an additional 439 shares during the period. Bbva Compass Bancshares Inc. raised its stake in First Financial Bankshares by 97.4% in the second quarter. Bbva Compass Bancshares Inc. now owns 14,778 shares of the company’s stock valued at $484,000 after buying an additional 7,292 shares during the period. Strs Ohio raised its stake in First Financial Bankshares by 38.7% in the second quarter. Strs Ohio now owns 4,300 shares of the company’s stock valued at $140,000 after buying an additional 1,200 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in First Financial Bankshares by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 29,300 shares of the company’s stock valued at $961,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 46.79% of the company’s stock.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc is a financial holding company. Through its subsidiaries, the Company conducts commercial banking business. It provides commercial banking services, which include accepting and holding checking, savings and time deposits, making loans, automated teller machines, drive-in and night deposit services, safe deposit facilities, remote deposit capture, Internet banking, mobile banking, payroll cards, transmitting funds and other customary commercial banking services.
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