First Financial Bankshares (FFIN) Lowered to Hold at Zacks Investment Research

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First Financial Bankshares (NASDAQ:FFIN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

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

FFIN has been the topic of several other research reports. BidaskClub raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Stephens set a $57.00 target price on shares of First Financial Bankshares and gave the stock a “hold” rating in a report on Friday, January 25th.

Shares of FFIN stock traded up $0.66 during mid-day trading on Wednesday, reaching $61.45. The company’s stock had a trading volume of 194,531 shares, compared to its average volume of 507,646. First Financial Bankshares has a 1-year low of $49.05 and a 1-year high of $66.83. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 28.19 and a beta of 1.14.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, April 18th. The bank reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. First Financial Bankshares had a net margin of 38.47% and a return on equity of 15.38%. The company had revenue of $95.77 million during the quarter, compared to analysts’ expectations of $96.90 million. During the same quarter in the prior year, the company posted $0.51 EPS. On average, research analysts forecast that First Financial Bankshares will post 2.39 EPS for the current year.

In other news, Director Johnny Trotter bought 5,000 shares of the stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $60.49 per share, with a total value of $302,450.00. Following the acquisition, the director now owns 389,926 shares in the company, valued at $23,586,623.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.90% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of First Financial Bankshares by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,569,285 shares of the bank’s stock worth $388,245,000 after purchasing an additional 138,088 shares during the last quarter. Vanguard Group Inc grew its holdings in First Financial Bankshares by 2.1% during the 3rd quarter. Vanguard Group Inc now owns 6,569,285 shares of the bank’s stock worth $388,245,000 after acquiring an additional 138,088 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in First Financial Bankshares by 2.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,564,795 shares of the bank’s stock worth $90,274,000 after acquiring an additional 42,710 shares during the last quarter. Oregon Public Employees Retirement Fund bought a new stake in First Financial Bankshares during the 4th quarter worth about $26,000. Finally, Dimensional Fund Advisors LP grew its holdings in First Financial Bankshares by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,230,481 shares of the bank’s stock worth $70,986,000 after acquiring an additional 13,808 shares during the last quarter. 54.89% of the stock is currently owned by institutional investors and hedge funds.

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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