First Financial Bankshares, Inc. (FFIN) Stock Rating Upgraded by Zacks Investment Research
Zacks Investment Research upgraded shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) from a hold rating to a buy rating in a report released on Thursday. Zacks Investment Research currently has $52.00 price target on the bank’s stock.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $42.00 target price on shares of First Financial Bankshares in a research report on Friday, October 20th. Piper Jaffray Companies reissued a hold rating and set a $41.00 price target on shares of First Financial Bankshares in a research report on Friday, September 1st. Stephens set a $39.00 price target on First Financial Bankshares and gave the stock a hold rating in a research report on Wednesday, August 2nd. Finally, BidaskClub downgraded First Financial Bankshares from a hold rating to a sell rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $43.40.
Shares of First Financial Bankshares (NASDAQ:FFIN) opened at 46.45 on Thursday. The stock’s 50 day moving average price is $44.00 and its 200 day moving average price is $41.74. First Financial Bankshares has a one year low of $35.05 and a one year high of $47.90. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 28.64 and a beta of 1.38.
First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results 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 company had revenue of $83.95 million for the quarter, compared to the consensus estimate of $89.87 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts anticipate that First Financial Bankshares will post $1.70 earnings per share for the current fiscal year.
First Financial Bankshares announced that its Board of Directors has initiated a share buyback program on Tuesday, July 25th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of large investors have recently modified their holdings of FFIN. BlackRock Inc. grew its position in First Financial Bankshares by 84,122.7% during the first quarter. BlackRock Inc. now owns 7,960,731 shares of the bank’s stock worth $319,224,000 after buying an additional 7,951,279 shares in the last quarter. State Street Corp grew its position in First Financial Bankshares by 23.8% during the first quarter. State Street Corp now owns 2,081,757 shares of the bank’s stock worth $83,472,000 after buying an additional 400,296 shares in the last quarter. Vanguard Group Inc. grew its position in First Financial Bankshares by 5.7% during the first quarter. Vanguard Group Inc. now owns 5,750,394 shares of the bank’s stock worth $230,590,000 after buying an additional 310,827 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in First Financial Bankshares by 21.0% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,013,016 shares of the bank’s stock worth $44,775,000 after buying an additional 176,003 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in First Financial Bankshares by 16.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,053,435 shares of the bank’s stock worth $42,243,000 after buying an additional 147,378 shares in the last quarter. 50.08% of the stock is currently owned by institutional investors and hedge funds.
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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