Zacks Investment Research lowered shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a strong sell rating in a research note released on Monday.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
FFIN has been the subject of a number of other research reports. BidaskClub upgraded First Financial Bankshares from a sell rating to a hold rating in a report on Thursday, January 18th. SunTrust Banks reiterated a hold rating and issued a $48.00 target price on shares of First Financial Bankshares in a report on Tuesday, January 9th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $47.00 target price on shares of First Financial Bankshares in a report on Tuesday, February 27th. Hovde Group set a $46.00 target price on First Financial Bankshares and gave the stock a hold rating in a report on Monday, January 29th. Finally, Sandler O’Neill reiterated a sell rating and issued a $40.00 target price on shares of First Financial Bankshares in a report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $44.86.
First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, January 25th. The bank reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). The firm had revenue of $83.20 million for the quarter, compared to analysts’ expectations of $90.40 million. First Financial Bankshares had a net margin of 35.72% and a return on equity of 12.61%. analysts forecast that First Financial Bankshares will post 2.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Wednesday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is 41.99%.
In related news, Director Steven L. Beal sold 15,973 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $47.37, for a total transaction of $756,641.01. Following the completion of the sale, the director now directly owns 1,465 shares of the company’s stock, valued at approximately $69,397.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Johnny Trotter purchased 11,400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $45.10 per share, with a total value of $514,140.00. Following the completion of the purchase, the director now directly owns 388,938 shares in the company, valued at approximately $17,541,103.80. The disclosure for this purchase can be found here. 4.77% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of FFIN. Milestone Group Inc. bought a new stake in shares of First Financial Bankshares during the 3rd quarter worth approximately $201,000. Crewe Advisors LLC bought a new stake in shares of First Financial Bankshares during the 4th quarter worth approximately $218,000. CIBC Asset Management Inc bought a new stake in shares of First Financial Bankshares during the 4th quarter worth approximately $233,000. Xact Kapitalforvaltning AB bought a new stake in shares of First Financial Bankshares during the 4th quarter worth approximately $235,000. Finally, FDx Advisors Inc. bought a new stake in shares of First Financial Bankshares during the 3rd quarter worth approximately $390,000. 51.58% of the stock is owned by hedge funds and other institutional investors.
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First Financial Bankshares Company Profile
First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. 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, First Financial Insurance Agency, Inc, Abilene, Texas, Commercial Bancshares, Inc, and Commercial State Bank, Kingwood, Texas.
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