First Financial Bankshares Inc. (NASDAQ:FFIN) was downgraded by equities researchers at Keefe, Bruyette & Woods from a “market perform” rating to an “underperform” rating in a report released on Tuesday, The Fly reports.
A number of other equities analysts have also issued reports on FFIN. Zacks Investment Research raised shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. Hovde Group lowered shares of First Financial Bankshares from a “market perform” rating to an “underperform” rating and boosted their target price for the stock from $37.50 to $43.00 in a research report on Friday, November 18th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $35.33.
Shares of First Financial Bankshares (NASDAQ:FFIN) opened at 44.65 on Tuesday. The company has a 50-day moving average of $39.21 and a 200 day moving average of $35.61. First Financial Bankshares has a 12 month low of $24.12 and a 12 month high of $46.70. The company has a market capitalization of $2.93 billion, a P/E ratio of 28.62 and a beta of 1.22.
First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, October 20th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.01. First Financial Bankshares had a return on equity of 12.23% and a net margin of 32.69%. During the same quarter in the prior year, the business posted $0.40 EPS. Analysts forecast that First Financial Bankshares will post $1.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.60%. The ex-dividend date is Tuesday, December 13th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 45.86%.
Large investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its stake in shares of First Financial Bankshares by 7.3% in the third quarter. BlackRock Fund Advisors now owns 4,519,821 shares of the company’s stock valued at $164,702,000 after buying an additional 307,544 shares during the period. Neuberger Berman Group LLC raised its stake in First Financial Bankshares by 5.8% in the third quarter. Neuberger Berman Group LLC now owns 4,055,824 shares of the company’s stock valued at $147,794,000 after buying an additional 222,950 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in First Financial Bankshares by 20.8% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,289,947 shares of the company’s stock valued at $47,005,000 after buying an additional 221,712 shares during the last quarter. Vanguard Group Inc. raised its stake in First Financial Bankshares by 4.1% in the second quarter. Vanguard Group Inc. now owns 5,062,224 shares of the company’s stock valued at $165,990,000 after buying an additional 198,095 shares during the last quarter. Finally, Rafferty Asset Management LLC purchased a new stake in First Financial Bankshares during the second quarter valued at $1,677,000. 46.79% of the stock is currently owned by hedge funds and other institutional investors.
About First Financial Bankshares
First Financial Bankshares, Inc is a financial holding company. Through its subsidiaries, the Company conducts commercial banking business. It provides commercial banking services, which include accepting and holding checking, savings and time deposits, making loans, automated teller machines, drive-in and night deposit services, safe deposit facilities, remote deposit capture, Internet banking, mobile banking, payroll cards, transmitting funds and other customary commercial banking services.