First Financial Bankshares (NASDAQ:FFIN) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a buy rating in a research note published on Saturday morning, BidAskClub reports.

Other equities research analysts have also issued reports about the stock. Piper Jaffray Companies set a $29.00 price objective on shares of First Financial Bankshares and gave the company a hold rating in a report on Thursday, August 22nd. ValuEngine lowered shares of First Financial Bankshares from a hold rating to a sell rating in a report on Tuesday, June 4th. Zacks Investment Research downgraded First Financial Bankshares from a buy rating to a hold rating in a research report on Monday, July 22nd. Finally, Stephens reiterated a hold rating and set a $30.00 target price on shares of First Financial Bankshares in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $30.75.

Shares of FFIN opened at $33.20 on Friday. First Financial Bankshares has a 1 year low of $26.73 and a 1 year high of $33.62. The company has a 50 day simple moving average of $31.32 and a two-hundred day simple moving average of $44.76. The firm has a market cap of $4.52 billion, a P/E ratio of 30.46 and a beta of 1.19.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. First Financial Bankshares had a net margin of 38.62% and a return on equity of 14.82%. The business had revenue of $101.26 million during the quarter, compared to analyst estimates of $99.90 million. During the same period last year, the firm posted $0.49 EPS. As a group, equities research analysts expect that First Financial Bankshares will post 1.2 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.45%. First Financial Bankshares’s dividend payout ratio is currently 44.04%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Panagora Asset Management Inc. boosted its position in shares of First Financial Bankshares by 99.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 412,544 shares of the bank’s stock valued at $12,702,000 after acquiring an additional 205,260 shares during the last quarter. EULAV Asset Management boosted its position in shares of First Financial Bankshares by 100.0% during the 2nd quarter. EULAV Asset Management now owns 206,496 shares of the bank’s stock valued at $6,358,000 after acquiring an additional 103,248 shares during the last quarter. Arabesque Asset Management Ltd boosted its position in shares of First Financial Bankshares by 133.1% during the 2nd quarter. Arabesque Asset Management Ltd now owns 20,665 shares of the bank’s stock valued at $638,000 after acquiring an additional 11,798 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of First Financial Bankshares during the 2nd quarter valued at approximately $277,000. Finally, First Republic Investment Management Inc. boosted its position in shares of First Financial Bankshares by 98.1% during the 2nd quarter. First Republic Investment Management Inc. now owns 32,071 shares of the bank’s stock valued at $987,000 after acquiring an additional 15,879 shares during the last quarter. Hedge funds and other institutional investors own 51.28% of the company’s stock.

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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