Zacks Investment Research Upgrades First Financial Bankshares, Inc. (FFIN) to Buy
First Financial Bankshares, Inc. (NASDAQ:FFIN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The firm presently has a $43.00 price target on the bank’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.91% from the stock’s current price.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
Several other research analysts also recently commented on FFIN. 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, July 21st. BidaskClub downgraded First Financial Bankshares from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Stephens set a $39.00 target price on First Financial Bankshares and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $40.80.
First Financial Bankshares (NASDAQ:FFIN) opened at 37.75 on Thursday. The company has a 50-day moving average price of $41.14 and a 200-day moving average price of $41.11. The firm has a market cap of $2.48 billion, a P/E ratio of 23.27 and a beta of 1.36. First Financial Bankshares has a 1-year low of $35.00 and a 1-year high of $46.70.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $82.25 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.41 EPS. On average, equities research analysts forecast that First Financial Bankshares will post $1.70 EPS for the current fiscal year.
First Financial Bankshares declared that its Board of Directors has approved a stock repurchase program on Tuesday, July 25th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the bank to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new position in First Financial Bankshares in the 2nd quarter worth about $632,000. Raymond James Financial Services Advisors Inc. boosted its stake in First Financial Bankshares by 16.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,834 shares of the bank’s stock worth $965,000 after purchasing an additional 3,085 shares during the period. The Manufacturers Life Insurance Company boosted its stake in First Financial Bankshares by 0.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,887 shares of the bank’s stock worth $2,206,000 after purchasing an additional 361 shares during the period. Shelton Capital Management bought a new position in First Financial Bankshares in the 2nd quarter worth about $290,000. Finally, Voya Investment Management LLC boosted its stake in First Financial Bankshares by 6.7% in the 2nd quarter. Voya Investment Management LLC now owns 29,500 shares of the bank’s stock worth $1,304,000 after purchasing an additional 1,840 shares during the period. Institutional investors and hedge funds own 50.12% of the company’s stock.
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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