Zacks Investment Research upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a buy rating in a research report sent to investors on Friday morning. They currently have $73.00 target price on the bank’s stock.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
A number of other equities research analysts have also weighed in on FFIN. BidaskClub raised shares of First Financial Bankshares from a hold rating to a buy rating in a report on Thursday, November 1st. Stephens set a $52.00 target price on shares of First Financial Bankshares and gave the stock a hold rating in a report on Monday, October 22nd. Finally, Robert W. Baird assumed coverage on shares of First Financial Bankshares in a report on Tuesday, October 16th. They set a neutral rating and a $60.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. First Financial Bankshares has an average rating of Hold and an average price target of $52.29.
First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, October 18th. The bank reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.02. First Financial Bankshares had a net margin of 39.25% and a return on equity of 14.09%. The firm had revenue of $96.48 million for the quarter, compared to analyst estimates of $97.34 million. During the same period in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, research analysts expect that First Financial Bankshares will post 2.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.27%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 49.41%.
In other news, Director Johnny Trotter purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The shares were purchased at an average price of $55.65 per share, for a total transaction of $111,300.00. Following the transaction, the director now owns 384,926 shares of the company’s stock, valued at $21,421,131.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.77% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Glen Harbor Capital Management LLC lifted its position in shares of First Financial Bankshares by 14.9% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 6,798 shares of the bank’s stock worth $346,000 after purchasing an additional 880 shares during the period. Bbva Compass Bancshares Inc. lifted its position in shares of First Financial Bankshares by 3.5% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 26,886 shares of the bank’s stock worth $1,368,000 after purchasing an additional 899 shares during the period. Aperio Group LLC lifted its position in shares of First Financial Bankshares by 4.7% in the 2nd quarter. Aperio Group LLC now owns 20,910 shares of the bank’s stock worth $1,064,000 after purchasing an additional 936 shares during the period. American International Group Inc. lifted its position in shares of First Financial Bankshares by 1.9% in the 3rd quarter. American International Group Inc. now owns 51,368 shares of the bank’s stock worth $3,036,000 after purchasing an additional 977 shares during the period. Finally, Pinebridge Investments L.P. lifted its position in shares of First Financial Bankshares by 2.4% in the 2nd quarter. Pinebridge Investments L.P. now owns 44,903 shares of the bank’s stock worth $2,286,000 after purchasing an additional 1,033 shares during the period. Hedge funds and other institutional investors own 53.82% of the company’s stock.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
Further Reading: What is insider trading?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Financial Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.