First Financial Bankshares (NASDAQ:FFIN) Stock Rating Lowered by Zacks Investment Research

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

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

A number of other brokerages also recently commented on FFIN. BidaskClub raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating in a research report on Saturday, September 14th. ValuEngine downgraded shares of First Financial Bankshares from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Stephens set a $33.00 price objective on shares of First Financial Bankshares and gave the company a “hold” rating in a research report on Friday, October 18th. Finally, Piper Jaffray Companies set a $29.00 price objective on shares of First Financial Bankshares and gave the company a “hold” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $33.00.

Shares of FFIN opened at $35.22 on Wednesday. The company’s 50 day moving average price is $33.13 and its 200 day moving average price is $39.94. First Financial Bankshares has a 52 week low of $26.73 and a 52 week high of $35.86. The company has a market capitalization of $4.80 billion, a PE ratio of 32.31 and a beta of 1.18.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. First Financial Bankshares had a net margin of 38.59% and a return on equity of 14.40%. The firm had revenue of $102.88 million for the quarter, compared to the consensus estimate of $102.20 million. During the same period in the previous year, the firm posted $0.59 earnings per share. As a group, equities analysts predict that First Financial Bankshares will post 1.2 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of FFIN. BlackRock Inc. grew its position in First Financial Bankshares by 102.7% in the second quarter. BlackRock Inc. now owns 15,535,492 shares of the bank’s stock worth $478,338,000 after acquiring an additional 7,870,372 shares in the last quarter. Vanguard Group Inc. grew its position in First Financial Bankshares by 100.2% in the second quarter. Vanguard Group Inc. now owns 12,831,607 shares of the bank’s stock worth $395,085,000 after acquiring an additional 6,422,789 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in First Financial Bankshares by 105.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,329,365 shares of the bank’s stock worth $102,511,000 after acquiring an additional 1,712,230 shares in the last quarter. Northern Trust Corp grew its position in First Financial Bankshares by 103.0% in the second quarter. Northern Trust Corp now owns 2,179,206 shares of the bank’s stock worth $67,098,000 after acquiring an additional 1,105,752 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in First Financial Bankshares by 328.1% in the second quarter. JPMorgan Chase & Co. now owns 1,250,672 shares of the bank’s stock worth $38,446,000 after acquiring an additional 958,532 shares in the last quarter. 51.32% of the stock is owned by institutional investors.

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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