BidaskClub Downgrades First Financial Bankshares, Inc. (FFIN) to Strong Sell
First Financial Bankshares, Inc. (NASDAQ:FFIN) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Monday.
FFIN has been the topic of several other research reports. Zacks Investment Research upgraded First Financial Bankshares from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Friday, June 9th. Keefe, Bruyette & Woods upgraded First Financial Bankshares from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $37.00 to $38.00 in a research report on Friday, April 21st. Piper Jaffray Companies restated a “hold” rating and issued a $41.00 price target on shares of First Financial Bankshares in a research report on Friday, July 21st. Finally, Stephens set a $39.00 price target on First Financial Bankshares and gave the company a “hold” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. First Financial Bankshares currently has a consensus rating of “Hold” and an average target price of $42.00.
Shares of First Financial Bankshares (NASDAQ:FFIN) opened at 41.05 on Monday. First Financial Bankshares has a 52 week low of $35.00 and a 52 week high of $46.70. The stock has a market cap of $2.70 billion, a P/E ratio of 25.31 and a beta of 1.34. The stock has a 50 day moving average price of $42.99 and a 200-day moving average price of $41.45.
First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $82.25 million for the quarter, compared to analysts’ expectations of $87.11 million. First Financial Bankshares had a return on equity of 12.41% and a net margin of 33.03%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. Equities analysts predict that First Financial Bankshares will post $1.70 EPS for the current fiscal year.
First Financial Bankshares declared that its Board of Directors has initiated a stock buyback plan on Tuesday, July 25th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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In other First Financial Bankshares news, Director Johnny Trotter acquired 1,000 shares of the stock in a transaction on Thursday, June 1st. The shares were bought at an average price of $38.55 per share, with a total value of $38,550.00. Following the acquisition, the director now owns 388,938 shares of the company’s stock, valued at $14,993,559.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David L. Copeland sold 684 shares of First Financial Bankshares stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $38.00, for a total value of $25,992.00. Following the completion of the sale, the director now directly owns 33,379 shares in the company, valued at approximately $1,268,402. The disclosure for this sale can be found here. Insiders purchased a total of 1,855 shares of company stock worth $72,859 in the last 90 days. 5.40% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First Financial Bankshares by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock worth $102,000 after buying an additional 239 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of First Financial Bankshares by 20.6% in the first quarter. LS Investment Advisors LLC now owns 3,020 shares of the bank’s stock worth $121,000 after buying an additional 516 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of First Financial Bankshares by 26.8% in the first quarter. Victory Capital Management Inc. now owns 3,520 shares of the bank’s stock worth $141,000 after buying an additional 743 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of First Financial Bankshares by 63.3% in the second quarter. Riverhead Capital Management LLC now owns 3,593 shares of the bank’s stock worth $159,000 after buying an additional 1,393 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of First Financial Bankshares by 9.0% in the first quarter. Bank of Montreal Can now owns 5,151 shares of the bank’s stock worth $207,000 after buying an additional 426 shares in the last quarter. 49.82% of the stock is currently owned by institutional investors.
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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