First Financial Bankshares (FFIN) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a buy rating in a research note published on Friday morning. Zacks Investment Research currently has $73.00 target price on the bank’s stock.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
Several other equities analysts also recently weighed in on FFIN. BidaskClub raised First Financial Bankshares from a hold rating to a buy rating in a research report on Thursday, November 1st. Stephens set a $52.00 target price on First Financial Bankshares and gave the company a hold rating in a research report on Monday, October 22nd. Finally, Robert W. Baird began coverage on First Financial Bankshares in a research report on Tuesday, October 16th. They issued a neutral rating and a $60.00 target price for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $52.29.
First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, October 18th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The firm had revenue of $96.48 million during the quarter, compared to the consensus estimate of $97.34 million. First Financial Bankshares had a return on equity of 14.09% and a net margin of 39.25%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. Analysts predict that First Financial Bankshares will post 2.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, December 13th. First Financial Bankshares’s dividend payout ratio is currently 49.41%.
In other news, Director Johnny Trotter bought 2,000 shares of the company’s stock in a transaction on Tuesday, October 23rd. The stock was bought at an average cost of $55.65 per share, with a total value of $111,300.00. Following the transaction, the director now directly owns 384,926 shares in the company, valued at approximately $21,421,131.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.77% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Teachers Advisors LLC boosted its stake in shares of First Financial Bankshares by 2.6% in the 3rd quarter. Teachers Advisors LLC now owns 127,652 shares of the bank’s stock valued at $7,544,000 after buying an additional 3,224 shares during the period. AQR Capital Management LLC boosted its stake in shares of First Financial Bankshares by 33.5% in the 3rd quarter. AQR Capital Management LLC now owns 5,248 shares of the bank’s stock valued at $310,000 after buying an additional 1,318 shares during the period. MetLife Investment Advisors LLC boosted its stake in shares of First Financial Bankshares by 47.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 43,916 shares of the bank’s stock valued at $2,595,000 after buying an additional 14,217 shares during the period. Paloma Partners Management Co purchased a new position in shares of First Financial Bankshares in the 3rd quarter valued at about $201,000. Finally, LPL Financial LLC purchased a new position in shares of First Financial Bankshares in the 3rd quarter valued at about $207,000. Institutional investors and hedge funds own 54.18% of the company’s stock.
About First Financial Bankshares
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.
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