Zacks Investment Research Upgrades First Financial Bankshares (NASDAQ:FFIN) to Hold

Zacks Investment Research upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “

A number of other equities analysts have also commented on the company. BidaskClub raised First Financial Bankshares from a sell rating to a hold rating in a report on Tuesday, April 9th. Stephens reaffirmed a neutral rating and issued a $28.50 price target on shares of First Financial Bankshares in a report on Monday, April 22nd. Finally, ValuEngine lowered First Financial Bankshares from a hold rating to a sell rating in a report on Tuesday, June 4th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $30.33.

First Financial Bankshares stock opened at $29.60 on Tuesday. First Financial Bankshares has a one year low of $25.27 and a one year high of $33.42. The firm has a market capitalization of $8.01 billion, a PE ratio of 27.16 and a beta of 1.16.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, April 18th. The bank reported $0.28 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.28. First Financial Bankshares had a return on equity of 15.03% and a net margin of 38.47%. The firm had revenue of $95.77 million during the quarter, compared to analyst estimates of $96.90 million. During the same period last year, the company earned $0.26 earnings per share. On average, research analysts anticipate that First Financial Bankshares will post 1.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, June 14th. First Financial Bankshares’s payout ratio is currently 38.53%.

In related news, Director David L. Copeland sold 5,000 shares of First Financial Bankshares stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $61.68, for a total transaction of $308,400.00. Following the completion of the sale, the director now owns 34,094 shares of the company’s stock, valued at $2,102,917.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Johnny Trotter acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $60.67 per share, with a total value of $121,340.00. Following the purchase, the director now directly owns 405,913 shares of the company’s stock, valued at approximately $24,626,741.71. The disclosure for this purchase can be found here. Insiders bought 10,511 shares of company stock valued at $643,239 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC boosted its stake in First Financial Bankshares by 3.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,617,135 shares of the bank’s stock valued at $93,438,000 after buying an additional 52,340 shares during the period. Marshall Wace LLP bought a new stake in First Financial Bankshares during the first quarter valued at $604,000. Metropolitan Life Insurance Co NY boosted its stake in First Financial Bankshares by 84.4% during the first quarter. Metropolitan Life Insurance Co NY now owns 38,231 shares of the bank’s stock valued at $2,208,000 after buying an additional 17,496 shares during the period. BlueCrest Capital Management Ltd bought a new stake in First Financial Bankshares during the first quarter valued at $554,000. Finally, HighTower Advisors LLC boosted its stake in First Financial Bankshares by 8.6% during the first quarter. HighTower Advisors LLC now owns 5,301 shares of the bank’s stock valued at $305,000 after buying an additional 419 shares during the period. 55.53% of the stock is owned by institutional investors.

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.

Read More: Systematic Risk

Get a free copy of the Zacks research report on First Financial Bankshares (FFIN)

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.