First Financial Bankshares (NASDAQ:FFIN) Upgraded 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 report sent to investors on Tuesday morning, Zacks.com reports. They currently have $38.00 target price on the bank’s stock.

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

Other equities research analysts have also issued research reports about the company. Piper Jaffray Companies set a $29.00 price target on First Financial Bankshares and gave the company a hold rating in a research report on Thursday, August 22nd. BidaskClub downgraded First Financial Bankshares from a buy rating to a hold rating in a research report on Saturday, October 26th. ValuEngine raised First Financial Bankshares from a strong sell rating to a sell rating in a research note on Friday, November 15th. Finally, Stephens set a $33.00 target price on First Financial Bankshares and gave the company a hold rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $33.33.

Shares of FFIN stock traded down $0.35 during trading hours on Tuesday, hitting $34.12. 9,938 shares of the company’s stock traded hands, compared to its average volume of 370,160. The stock has a market cap of $4.68 billion, a PE ratio of 31.46 and a beta of 1.15. The stock’s 50 day simple moving average is $34.01 and its 200 day simple moving average is $36.66. First Financial Bankshares has a 12 month low of $26.73 and a 12 month high of $35.86.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $102.88 million for the quarter, compared to analysts’ expectations of $102.20 million. First Financial Bankshares had a net margin of 38.59% and a return on equity of 14.40%. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Equities analysts forecast that First Financial Bankshares will post 1.21 earnings per share for the current fiscal year.

In other First Financial Bankshares news, Director Michael B. Denny acquired 1,500 shares of the stock in a transaction dated Wednesday, November 13th. The stock was purchased at an average cost of $34.77 per share, with a total value of $52,155.00. Following the transaction, the director now owns 1,974 shares in the company, valued at approximately $68,635.98. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders bought 2,560 shares of company stock valued at $89,150. Corporate insiders own 4.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Mutual Advisors LLC raised its holdings in shares of First Financial Bankshares by 1.5% during the third quarter. Mutual Advisors LLC now owns 20,196 shares of the bank’s stock valued at $673,000 after purchasing an additional 300 shares during the period. Texas Permanent School Fund increased its position in First Financial Bankshares by 0.4% in the 3rd quarter. Texas Permanent School Fund now owns 92,437 shares of the bank’s stock valued at $3,081,000 after buying an additional 340 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in First Financial Bankshares by 90.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 950 shares of the bank’s stock worth $32,000 after buying an additional 450 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in First Financial Bankshares by 7.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,794 shares of the bank’s stock worth $226,000 after buying an additional 498 shares during the period. Finally, First Command Financial Services Inc. increased its holdings in shares of First Financial Bankshares by 100.0% during the second quarter. First Command Financial Services Inc. now owns 1,048 shares of the bank’s stock valued at $32,000 after acquiring an additional 524 shares in the last quarter. Institutional investors own 51.67% of the company’s stock.

First Financial Bankshares Company Profile

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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