First Financial Bankshares (FFIN) Lowered to Hold at BidaskClub

First Financial Bankshares (NASDAQ:FFIN) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Several other analysts have also commented on FFIN. Zacks Investment Research lowered shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $41.00 price objective on shares of First Financial Bankshares in a research report on Friday, September 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $39.00 price objective on shares of First Financial Bankshares in a research report on Tuesday, October 3rd. Six equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus target price of $43.40.

First Financial Bankshares (NASDAQ:FFIN) opened at $46.90 on Tuesday. First Financial Bankshares has a 12-month low of $36.85 and a 12-month high of $48.85. The firm has a market cap of $3,110.00, a PE ratio of 28.11 and a beta of 1.40.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.44 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.44. The company had revenue of $83.95 million for the quarter, compared to analyst estimates of $89.87 million. First Financial Bankshares had a net margin of 33.51% and a return on equity of 12.70%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.39 earnings per share. equities analysts anticipate that First Financial Bankshares will post 1.7 EPS for the current fiscal year.

In other news, Director David L. Copeland sold 1,368 shares of First Financial Bankshares stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $45.52, for a total value of $62,271.36. Following the completion of the transaction, the director now owns 33,379 shares in the company, valued at $1,519,412.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of First Financial Bankshares by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock worth $102,000 after purchasing an additional 239 shares in the last quarter. Riverhead Capital Management LLC increased its stake in shares of First Financial Bankshares by 63.3% in the second quarter. Riverhead Capital Management LLC now owns 3,593 shares of the bank’s stock worth $159,000 after purchasing an additional 1,393 shares in the last quarter. Victory Capital Management Inc. grew its stake in First Financial Bankshares by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,141 shares of the bank’s stock valued at $183,000 after acquiring an additional 621 shares in the last quarter. Milestone Group Inc. purchased a new position in First Financial Bankshares during the third quarter valued at approximately $201,000. Finally, FCA Corp TX purchased a new position in First Financial Bankshares during the second quarter valued at approximately $213,000. Hedge funds and other institutional investors own 51.40% of the company’s stock.

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About First Financial Bankshares

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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