First Financial Bankshares (NASDAQ:FFIN) Rating Lowered to Sell at BidaskClub

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BidaskClub cut shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a sell rating in a report issued on Saturday, BidAskClub reports.

FFIN has been the topic of several other research reports. SunTrust Banks increased their price target on shares of First Financial Bankshares from $27.00 to $29.00 and gave the stock a hold rating in a research note on Tuesday, May 5th. Zacks Investment Research downgraded shares of First Financial Bankshares from a hold rating to a sell rating in a report on Tuesday, June 23rd. ValuEngine raised shares of First Financial Bankshares from a sell rating to a hold rating in a report on Thursday, April 2nd. Finally, TheStreet raised shares of First Financial Bankshares from a c+ rating to a b- rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. First Financial Bankshares presently has a consensus rating of Hold and an average price target of $32.50.

Shares of FFIN opened at $28.89 on Friday. The company’s fifty day moving average is $29.28 and its 200-day moving average is $30.40. First Financial Bankshares has a 12 month low of $20.70 and a 12 month high of $36.45. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 24.28 and a beta of 0.97.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.03). First Financial Bankshares had a return on equity of 12.79% and a net margin of 36.96%. The business had revenue of $111.47 million for the quarter, compared to analyst estimates of $108.95 million. During the same quarter last year, the company earned $0.56 EPS. Research analysts anticipate that First Financial Bankshares will post 0.99 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Tuesday, June 16th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from First Financial Bankshares’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.80%. First Financial Bankshares’s dividend payout ratio is 42.98%.

In related news, Director April Kaye Bullock Anthony purchased 5,000 shares of First Financial Bankshares stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $26.00 per share, with a total value of $130,000.00. Following the acquisition, the director now directly owns 47,935 shares in the company, valued at $1,246,310. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Tucker S. Bridwell sold 23,206 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $26.32, for a total transaction of $610,781.92. Following the completion of the sale, the director now directly owns 68,386 shares of the company’s stock, valued at $1,799,919.52. The disclosure for this sale can be found here. Over the last three months, insiders acquired 10,267 shares of company stock valued at $259,213 and sold 63,206 shares valued at $1,836,182. 4.44% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of First Financial Bankshares by 5.4% during the 1st quarter. Geode Capital Management LLC now owns 2,085,286 shares of the bank’s stock worth $55,969,000 after acquiring an additional 106,989 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of First Financial Bankshares by 0.4% during the 1st quarter. JPMorgan Chase & Co. now owns 1,774,762 shares of the bank’s stock worth $47,635,000 after acquiring an additional 6,777 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of First Financial Bankshares by 4.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,663,371 shares of the bank’s stock worth $58,384,000 after acquiring an additional 70,464 shares during the period. Norges Bank bought a new position in shares of First Financial Bankshares during the 4th quarter worth about $43,964,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of First Financial Bankshares by 0.6% during the 1st quarter. Wells Fargo & Company MN now owns 800,254 shares of the bank’s stock worth $21,479,000 after acquiring an additional 4,598 shares during the period. 49.38% of the stock is owned by institutional investors.

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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