First Financial Bankshares (FFIN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a strong-buy rating in a report issued on Wednesday. Zacks Investment Research currently has $53.00 price objective on the bank’s stock.

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

Several other analysts also recently issued reports on the stock. SunTrust Banks reissued a hold rating and issued a $48.00 price target on shares of First Financial Bankshares in a research report on Tuesday, January 9th. BidaskClub downgraded shares of First Financial Bankshares from a hold rating to a sell rating in a research report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $42.00 price target 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 stock. First Financial Bankshares presently has an average rating of Hold and an average price target of $44.33.

First Financial Bankshares (NASDAQ FFIN) traded up $0.15 during midday trading on Wednesday, reaching $47.85. 159,311 shares of the company traded hands, compared to its average volume of 293,682. First Financial Bankshares has a twelve month low of $36.85 and a twelve month high of $48.85. The firm has a market cap of $3,168.91, a P/E ratio of 28.65 and a beta of 1.40.

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

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

In other First Financial Bankshares news, Director David L. Copeland sold 1,368 shares of First Financial Bankshares stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $45.52, for a total transaction of $62,271.36. Following the transaction, the director now directly owns 33,379 shares of the company’s stock, valued at approximately $1,519,412.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.04% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in First Financial Bankshares by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock worth $102,000 after acquiring an additional 239 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in First Financial Bankshares by 63.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,593 shares of the bank’s stock worth $159,000 after acquiring an additional 1,393 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in First Financial Bankshares by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,141 shares of the bank’s stock worth $183,000 after acquiring an additional 621 shares during the last quarter. Milestone Group Inc. purchased a new position in First Financial Bankshares during the 3rd quarter worth $201,000. Finally, Shelton Capital Management purchased a new position in First Financial Bankshares during the 2nd quarter worth $290,000. 51.37% of the stock is currently owned by hedge funds and other institutional investors.

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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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