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First Financial Bankshares (NASDAQ:FFIN) Lifted to "Hold" at Zacks Investment Research

Monday, June 29, 2020 | MarketBeat

First Financial Bankshares (NASDAQ:FFIN) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a report released on Monday, Zacks.com reports.

According to Zacks, "FIRST FINL BANKSHARES, INC. is a registered multi-bank holding company. "

FFIN has been the topic of several other reports. TheStreet upgraded First Financial Bankshares from a "c+" rating to a "b-" rating in a research report on Tuesday, June 9th. ValuEngine upgraded shares of First Financial Bankshares from a "sell" rating to a "hold" rating in a report on Thursday, April 2nd. BidaskClub lowered First Financial Bankshares from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, SunTrust Banks boosted their price objective on shares of First Financial Bankshares from $27.00 to $29.00 and gave the company a "hold" rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock currently has a consensus rating of "Hold" and a consensus price target of $32.50.

NASDAQ:FFIN traded up $1.09 during trading hours on Monday, hitting $27.96. 680,113 shares of the company's stock traded hands, compared to its average volume of 639,308. First Financial Bankshares has a 52 week low of $20.70 and a 52 week high of $36.45. The firm has a market cap of $3.82 billion, a P/E ratio of 23.50 and a beta of 0.97. The business's fifty day simple moving average is $29.27 and its two-hundred day simple moving average is $30.43.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, April 23rd. The bank reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.29 by ($0.03). First Financial Bankshares had a return on equity of 12.79% and a net margin of 36.96%. The firm had revenue of $111.47 million during the quarter, compared to analysts' expectations of $108.95 million. During the same period in the prior year, the company earned $0.56 EPS. As a group, equities research analysts anticipate that First Financial Bankshares will post 0.99 earnings per share for the current fiscal year.

In related news, Director April Kaye Bullock Anthony purchased 5,000 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was acquired at an average cost of $24.38 per share, for a total transaction of $121,900.00. Following the completion of the transaction, the director now directly owns 60,435 shares of the company's stock, valued at $1,473,405.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David L. Copeland sold 20,000 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $33.61, for a total value of $672,200.00. Following the completion of the sale, the director now directly owns 69,844 shares of the company's stock, valued at $2,347,456.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 10,267 shares of company stock worth $259,213 and have sold 63,206 shares worth $1,836,182. 4.44% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the stock. Nuveen Asset Management LLC increased its stake in First Financial Bankshares by 3.2% during the first quarter. Nuveen Asset Management LLC now owns 540,880 shares of the bank's stock worth $14,517,000 after purchasing an additional 16,636 shares during the period. Employees Retirement System of Texas acquired a new stake in shares of First Financial Bankshares in the 4th quarter valued at $1,018,000. Squarepoint Ops LLC raised its stake in First Financial Bankshares by 1,083.8% in the first quarter. Squarepoint Ops LLC now owns 124,316 shares of the bank's stock valued at $3,337,000 after buying an additional 113,815 shares in the last quarter. Citigroup Inc. raised its position in shares of First Financial Bankshares by 23.6% during the 1st quarter. Citigroup Inc. now owns 70,963 shares of the bank's stock worth $1,905,000 after acquiring an additional 13,553 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new stake in shares of First Financial Bankshares during the 1st quarter worth approximately $2,635,000. 49.38% of the stock is owned by hedge funds and other institutional investors.

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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