First Financial Bankshares, Inc. (FFIN) Lowered to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) from a sell rating to a strong sell rating in a report issued on Monday morning.

FFIN has been the subject of several other research reports. Zacks Investment Research raised shares of First Financial Bankshares from a hold rating to a buy rating and set a $46.00 price objective for the company in a report on Friday, June 9th. Keefe, Bruyette & Woods upgraded shares of First Financial Bankshares from an underperform rating to a market perform rating and boosted their price target for the stock from $37.00 to $38.00 in a research report on Friday, April 21st. Piper Jaffray Companies reiterated a hold rating and issued a $41.00 price target on shares of First Financial Bankshares in a research report on Friday, July 21st. Finally, Stephens set a $39.00 price target on shares of First Financial Bankshares and gave the stock a hold rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $42.00.

First Financial Bankshares (FFIN) traded down 0.470% during trading on Monday, reaching $41.305. 23,361 shares of the company’s stock traded hands. The stock has a market capitalization of $2.71 billion, a P/E ratio of 25.465 and a beta of 1.34. First Financial Bankshares has a 12 month low of $34.17 and a 12 month high of $46.70. The company has a 50-day moving average of $43.00 and a 200 day moving average of $41.46.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The business had revenue of $82.25 million during the quarter, compared to the consensus estimate of $87.11 million. First Financial Bankshares had a net margin of 33.03% and a return on equity of 12.41%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities research analysts expect that First Financial Bankshares will post $1.70 earnings per share for the current fiscal year.

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First Financial Bankshares announced that its Board of Directors has approved a stock repurchase program on Tuesday, July 25th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Thursday, September 14th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 46.91%.

In other First Financial Bankshares news, Director Johnny Trotter purchased 1,000 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were purchased at an average cost of $38.55 per share, for a total transaction of $38,550.00. Following the completion of the transaction, the director now owns 388,938 shares in the company, valued at $14,993,559.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David L. Copeland sold 684 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $38.00, for a total transaction of $25,992.00. Following the completion of the sale, the director now owns 33,379 shares in the company, valued at $1,268,402. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 1,855 shares of company stock worth $72,859. 5.40% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of First Financial Bankshares by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,309 shares of the bank’s stock valued at $102,000 after buying an additional 239 shares during the period. LS Investment Advisors LLC boosted its stake in shares of First Financial Bankshares by 20.6% in the first quarter. LS Investment Advisors LLC now owns 3,020 shares of the bank’s stock valued at $121,000 after buying an additional 516 shares during the period. Victory Capital Management Inc. boosted its stake in shares of First Financial Bankshares by 26.8% in the first quarter. Victory Capital Management Inc. now owns 3,520 shares of the bank’s stock valued at $141,000 after buying an additional 743 shares during the period. Riverhead Capital Management LLC boosted its stake in shares of First Financial Bankshares by 63.3% in the second quarter. Riverhead Capital Management LLC now owns 3,593 shares of the bank’s stock valued at $159,000 after buying an additional 1,393 shares during the period. Finally, Bank of Montreal Can boosted its stake in shares of First Financial Bankshares by 9.0% in the first quarter. Bank of Montreal Can now owns 5,151 shares of the bank’s stock valued at $207,000 after buying an additional 426 shares during the period. Hedge funds and other institutional investors own 49.82% of the company’s stock.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.

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