Zacks Investment Research upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a sell rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.
According to Zacks, “FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. “
A number of other research firms also recently weighed in on FFIN. BidaskClub upgraded First Financial Bankshares from a sell rating to a hold rating in a report on Tuesday, April 9th. ValuEngine downgraded First Financial Bankshares from a buy rating to a hold rating in a report on Friday, May 17th. Finally, Stephens reiterated a neutral rating and set a $57.00 target price on shares of First Financial Bankshares in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has an average rating of Hold and an average price target of $60.67.
Shares of First Financial Bankshares are going to split before the market opens on Monday, June 3rd. The 2-1 split was announced on Tuesday, April 23rd. The newly created shares will be issued to shareholders after the closing bell on Friday, May 31st.
First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, April 18th. The bank reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. First Financial Bankshares had a return on equity of 15.03% and a net margin of 38.47%. The firm had revenue of $95.77 million for the quarter, compared to the consensus estimate of $96.90 million. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, sell-side analysts expect that First Financial Bankshares will post 2.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a $0.12 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.84%. First Financial Bankshares’s payout ratio is currently 38.53%.
In related news, Director Johnny Trotter purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were bought at an average price of $61.61 per share, for a total transaction of $184,830.00. Following the purchase, the director now directly owns 394,913 shares of the company’s stock, valued at approximately $24,330,589.93. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David L. Copeland sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $61.68, for a total value of $308,400.00. Following the completion of the sale, the director now owns 34,094 shares in the company, valued at approximately $2,102,917.92. The disclosure for this sale can be found here. Insiders purchased a total of 15,346 shares of company stock worth $936,323 in the last 90 days. 4.90% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its position in First Financial Bankshares by 33.5% in the 3rd quarter. AQR Capital Management LLC now owns 5,248 shares of the bank’s stock valued at $310,000 after acquiring an additional 1,318 shares in the last quarter. Vanguard Group Inc lifted its position in First Financial Bankshares by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 6,569,285 shares of the bank’s stock valued at $388,245,000 after acquiring an additional 138,088 shares in the last quarter. Bank of Montreal Can lifted its position in First Financial Bankshares by 9.2% in the 4th quarter. Bank of Montreal Can now owns 5,479 shares of the bank’s stock valued at $315,000 after acquiring an additional 462 shares in the last quarter. Strs Ohio lifted its position in First Financial Bankshares by 27.8% in the 4th quarter. Strs Ohio now owns 9,200 shares of the bank’s stock valued at $530,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in First Financial Bankshares in the 4th quarter valued at approximately $29,000. Institutional investors own 55.53% 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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