First Financial Bankshares (NASDAQ:FFIN) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of First Financial Bankshares (NASDAQ:FFINGet Rating) from a hold rating to a sell rating in a research note released on Thursday.

Separately, Zacks Investment Research raised shares of First Financial Bankshares from a hold rating to a buy rating and set a $57.00 target price on the stock in a research report on Thursday, January 6th.

Shares of FFIN stock opened at $41.80 on Thursday. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 26.29 and a beta of 0.85. First Financial Bankshares has a fifty-two week low of $41.44 and a fifty-two week high of $55.00. The firm’s 50 day moving average price is $45.74 and its two-hundred day moving average price is $48.61.

First Financial Bankshares (NASDAQ:FFINGet Rating) last announced its quarterly earnings results on Thursday, January 27th. The bank reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $129.71 million for the quarter, compared to analysts’ expectations of $133.28 million. First Financial Bankshares had a net margin of 43.88% and a return on equity of 13.23%. First Financial Bankshares’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. On average, research analysts anticipate that First Financial Bankshares will post 1.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Wednesday, March 16th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.44%. First Financial Bankshares’s payout ratio is currently 37.74%.

In other First Financial Bankshares news, Director Michael B. Denny bought 10,000 shares of the stock in a transaction on Monday, March 7th. The stock was purchased at an average price of $45.28 per share, for a total transaction of $452,800.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Johnny Trotter bought 2,500 shares of the stock in a transaction on Monday, February 7th. The shares were acquired at an average price of $47.22 per share, with a total value of $118,050.00. The disclosure for this purchase can be found here. Insiders purchased 17,212 shares of company stock worth $785,094 over the last ninety days. 4.19% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in First Financial Bankshares in the fourth quarter worth about $51,623,000. BlackRock Inc. lifted its holdings in First Financial Bankshares by 5.4% in the fourth quarter. BlackRock Inc. now owns 14,967,983 shares of the bank’s stock worth $760,972,000 after purchasing an additional 761,656 shares during the period. Millennium Management LLC lifted its holdings in First Financial Bankshares by 567.4% in the third quarter. Millennium Management LLC now owns 710,293 shares of the bank’s stock worth $32,638,000 after purchasing an additional 603,872 shares during the period. Alliancebernstein L.P. lifted its holdings in First Financial Bankshares by 9.3% in the third quarter. Alliancebernstein L.P. now owns 3,255,136 shares of the bank’s stock worth $149,573,000 after purchasing an additional 275,735 shares during the period. Finally, Citigroup Inc. lifted its holdings in First Financial Bankshares by 285.9% in the third quarter. Citigroup Inc. now owns 291,953 shares of the bank’s stock worth $13,415,000 after purchasing an additional 216,295 shares during the period. Institutional investors and hedge funds own 53.50% of the company’s stock.

First Financial Bankshares Company Profile (Get Rating)

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings and money market accounts, and time deposits; commercial and industrial, municipal, agricultural, construction and development, farm, non-owner occupied and owner-occupied commercial real estate, residential, and consumer auto and non-auto loans to businesses, professional individuals, and farm and ranch operations.

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