Zacks Investment Research cut shares of First Financial Bankshares Inc. (NASDAQ:FFIN) from a hold rating to a sell rating in a report published on Thursday.

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

First Financial Bankshares (NASDAQ:FFIN) opened at 35.88 on Thursday. The company’s 50-day moving average is $35.67 and its 200-day moving average is $32.74. First Financial Bankshares has a 52-week low of $24.12 and a 52-week high of $36.90. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 23.00 and a beta of 1.37.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. First Financial Bankshares had a net margin of 33.05% and a return on equity of 12.55%. Equities analysts predict that First Financial Bankshares will post $1.60 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.01%. First Financial Bankshares’s payout ratio is currently 45.57%.

Institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of First Financial Bankshares during the fourth quarter worth approximately $16,596,000. BlackRock Institutional Trust Company N.A. increased its position in shares of First Financial Bankshares by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,623,037 shares of the company’s stock worth $48,009,000 after buying an additional 29,797 shares in the last quarter. BlackRock Group LTD increased its position in shares of First Financial Bankshares by 6.8% in the first quarter. BlackRock Group LTD now owns 76,878 shares of the company’s stock worth $2,273,000 after buying an additional 4,904 shares in the last quarter. Prudential Financial Inc. increased its position in shares of First Financial Bankshares by 3.1% in the first quarter. Prudential Financial Inc. now owns 157,732 shares of the company’s stock worth $4,666,000 after buying an additional 4,800 shares in the last quarter. Finally, Rafferty Asset Management LLC bought a new position in shares of First Financial Bankshares during the second quarter worth about $1,677,000. Institutional investors own 45.72% of the company’s stock.

About First Financial Bankshares

First Financial Bankshares, Inc is a financial holding company. Through its subsidiaries, the Company conducts commercial banking business. It provides commercial banking services, which include accepting and holding checking, savings and time deposits, making loans, automated teller machines, drive-in and night deposit services, safe deposit facilities, remote deposit capture, Internet banking, mobile banking, payroll cards, transmitting funds and other customary commercial banking services.

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