First Financial Bankshares (FFIN) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a sell rating in a research report released on Tuesday morning.

Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded First Financial Bankshares from a hold rating to a buy rating and set a $52.00 price objective for the company in a research report on Thursday, October 26th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $42.00 price objective on shares of First Financial Bankshares in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $44.33.

Shares of First Financial Bankshares (NASDAQ:FFIN) traded up $0.15 during mid-day trading on Tuesday, reaching $47.85. The company’s stock had a trading volume of 159,311 shares, compared to its average volume of 296,342. First Financial Bankshares has a 12-month low of $36.85 and a 12-month high of $48.85. The company has a market capitalization of $3,170.00, a P/E ratio of 28.65 and a beta of 1.40.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. First Financial Bankshares had a return on equity of 12.70% and a net margin of 33.51%. The firm had revenue of $83.95 million during the quarter, compared to the consensus estimate of $89.87 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. sell-side analysts forecast that First Financial Bankshares will post 1.7 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 18th were issued a dividend of $0.19 per share. The ex-dividend date was Friday, December 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.59%. First Financial Bankshares’s dividend payout ratio is presently 45.51%.

In related news, Director David L. Copeland sold 1,368 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $45.52, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 5.04% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Amalgamated Bank raised its holdings in shares of First Financial Bankshares by 2.6% during the second quarter. Amalgamated Bank now owns 8,768 shares of the bank’s stock valued at $388,000 after acquiring an additional 225 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of First Financial Bankshares by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock valued at $102,000 after acquiring an additional 239 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of First Financial Bankshares by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 49,887 shares of the bank’s stock valued at $2,206,000 after acquiring an additional 361 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of First Financial Bankshares by 3.8% during the second quarter. Profund Advisors LLC now owns 14,453 shares of the bank’s stock valued at $639,000 after acquiring an additional 533 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of First Financial Bankshares by 0.3% during the second quarter. TIAA CREF Investment Management LLC now owns 198,871 shares of the bank’s stock valued at $8,790,000 after acquiring an additional 599 shares in the last quarter. Institutional investors own 51.37% 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.

Analyst Recommendations for First Financial Bankshares (NASDAQ:FFIN)

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