First Financial Bankshares (NASDAQ:FFIN) Raised to "Hold" at Piper Sandler

Key Points

• Piper Sandler upgraded First Financial Bankshares to “Hold.” Analysts collectively rate the stock “Moderate Buy,” with an average price target of $36.40; ratings include one Strong Buy, two Buys and three Holds.
• FFIN opened at $33.07, with a $4.74 billion market capitalization and a 52-week trading range of $28.11 to $38.12. Its latest quarterly results matched estimates at $0.50 EPS, while revenue was slightly below consensus at $172.76 million.
• Insider activity was mixed, with an executive selling 15,000 shares and a director buying 3,000 shares. Institutional investors own approximately 69.78% of the company’s stock.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) was upgraded by research analysts at Piper Sandler to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also issued reports on FFIN. Cantor Fitzgerald restated a "neutral" rating and set a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th. Weiss Ratings upgraded shares of First Financial Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 3rd. Finally, Benchmark began coverage on First Financial Bankshares in a research note on Wednesday, June 24th. They set a "buy" rating and a $39.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $36.40.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $33.07 on Thursday. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 17.68 and a beta of 0.81. The stock's 50-day simple moving average is $34.64 and its two-hundred day simple moving average is $32.69. First Financial Bankshares has a 52-week low of $28.11 and a 52-week high of $38.12.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.50. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.The business had revenue of $172.76 million during the quarter, compared to the consensus estimate of $173.03 million. During the same period in the previous year, the company posted $0.47 EPS. As a group, equities analysts forecast that First Financial Bankshares will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at First Financial Bankshares

In other news, CAO Ronald David Butler II sold 15,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.95, for a total transaction of $524,250.00. Following the transaction, the chief accounting officer owned 152,223 shares of the company's stock, valued at approximately $5,320,193.85. The trade was a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael B. Denny bought 3,000 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were bought at an average cost of $34.66 per share, for a total transaction of $103,980.00. Following the transaction, the director owned 6,500 shares in the company, valued at approximately $225,290. The trade was a 85.71% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 4,700 shares of company stock worth $161,583 over the last ninety days. Company insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Waterloo Capital L.P. boosted its position in shares of First Financial Bankshares by 978.4% during the fourth quarter. Waterloo Capital L.P. now owns 68,899 shares of the bank's stock valued at $2,058,000 after buying an additional 62,510 shares during the period. Jefferies Financial Group Inc. lifted its stake in shares of First Financial Bankshares by 283.7% during the 4th quarter. Jefferies Financial Group Inc. now owns 112,781 shares of the bank's stock worth $3,369,000 after acquiring an additional 83,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in First Financial Bankshares by 3,042,660.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank's stock valued at $642,573,000 after acquiring an additional 21,511,608 shares during the period. Excelsior Advisor Network LLC purchased a new position in First Financial Bankshares during the 1st quarter valued at $6,903,000. Finally, Fifth Third Bancorp boosted its holdings in First Financial Bankshares by 5,632.8% during the 1st quarter. Fifth Third Bancorp now owns 36,346 shares of the bank's stock valued at $1,070,000 after acquiring an additional 35,712 shares during the period. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company's core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.

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