BidaskClub Upgrades First Financial Bankshares (NASDAQ:FFIN) to “Buy”

BidaskClub upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a hold rating to a buy rating in a report issued on Wednesday morning, BidAskClub reports.

A number of other research analysts have also issued reports on FFIN. ValuEngine lowered shares of First Financial Bankshares from a hold rating to a sell rating in a research note on Tuesday, June 4th. Zacks Investment Research lowered shares of First Financial Bankshares from a buy rating to a hold rating in a research note on Monday, July 22nd. Stephens reiterated a hold rating and set a $30.00 price target on shares of First Financial Bankshares in a research note on Friday, July 19th. Finally, Piper Jaffray Companies set a $27.00 price target on shares of First Financial Bankshares and gave the stock a hold rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $30.25.

Shares of First Financial Bankshares stock opened at $29.92 on Wednesday. First Financial Bankshares has a 52-week low of $26.73 and a 52-week high of $33.43. The company’s 50-day simple moving average is $31.21 and its 200-day simple moving average is $48.58. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 27.45 and a beta of 1.14.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. First Financial Bankshares had a net margin of 38.62% and a return on equity of 14.82%. The business had revenue of $101.26 million for the quarter, compared to analyst estimates of $99.90 million. During the same period in the previous year, the business posted $0.49 earnings per share. Equities analysts forecast that First Financial Bankshares will post 1.2 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its holdings in First Financial Bankshares by 767.3% during the first quarter. Quadrant Capital Group LLC now owns 451 shares of the bank’s stock worth $26,000 after buying an additional 399 shares in the last quarter. Bank of Montreal Can boosted its holdings in First Financial Bankshares by 7.6% during the first quarter. Bank of Montreal Can now owns 5,895 shares of the bank’s stock worth $341,000 after buying an additional 416 shares in the last quarter. First Command Financial Services Inc. boosted its holdings in First Financial Bankshares by 100.0% during the second quarter. First Command Financial Services Inc. now owns 1,048 shares of the bank’s stock worth $32,000 after buying an additional 524 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in First Financial Bankshares by 1.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,514 shares of the bank’s stock worth $2,399,000 after buying an additional 543 shares in the last quarter. Finally, Liberty Wealth Management LLC boosted its holdings in First Financial Bankshares by 100.0% during the second quarter. Liberty Wealth Management LLC now owns 1,260 shares of the bank’s stock worth $39,000 after buying an additional 630 shares in the last quarter. Institutional investors and hedge funds 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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