First Financial Bankshares (NASDAQ:FFIN) Rating Increased to Hold at StockNews.com

First Financial Bankshares (NASDAQ:FFINGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Separately, Zacks Investment Research raised First Financial Bankshares from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, January 6th.

First Financial Bankshares stock opened at $42.06 on Friday. First Financial Bankshares has a one year low of $41.44 and a one year high of $55.00. The business has a fifty day moving average price of $45.20 and a 200-day moving average price of $48.55. The firm has a market capitalization of $6.00 billion, a P/E ratio of 26.45 and a beta of 0.85.

First Financial Bankshares (NASDAQ:FFINGet Rating) last posted its quarterly earnings results on Thursday, January 27th. The bank reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. First Financial Bankshares had a return on equity of 13.23% and a net margin of 43.88%. The firm had revenue of $129.71 million during the quarter, compared to analyst estimates of $133.28 million. During the same period last year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts forecast that First Financial Bankshares will post 1.51 earnings per share for the current year.

In related news, Director Michael B. Denny purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The shares were acquired 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 can be accessed through this link. Also, Director Johnny Trotter purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 24th. The stock was bought at an average price of $44.84 per share, for a total transaction of $89,680.00. The disclosure for this purchase can be found here. Insiders bought 17,212 shares of company stock worth $785,094 in the last 90 days. Company insiders own 4.19% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Sageworth Trust Co of South Dakota purchased a new position in First Financial Bankshares during the fourth quarter valued at $31,000. Massmutual Trust Co. FSB ADV purchased a new position in First Financial Bankshares in the 1st quarter worth about $32,000. Schubert & Co purchased a new stake in shares of First Financial Bankshares during the 4th quarter valued at about $69,000. Steward Financial Group LLC purchased a new position in shares of First Financial Bankshares during the 4th quarter worth $112,000. Finally, Van ECK Associates Corp boosted its stake in shares of First Financial Bankshares by 59.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,736 shares of the bank’s stock worth $126,000 after acquiring an additional 1,018 shares during the last quarter. 53.50% of the stock is owned by institutional investors and hedge funds.

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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