First Financial Bankshares (NASDAQ:FFIN) Upgraded by BidaskClub to Buy

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First Financial Bankshares (NASDAQ:FFIN) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, BidAskClub reports.

A number of other equities analysts also recently weighed in on the stock. Stephens restated a “hold” rating and set a $30.00 target price on shares of First Financial Bankshares in a report on Friday, July 19th. ValuEngine downgraded shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. Zacks Investment Research downgraded shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Finally, Piper Jaffray Companies set a $27.00 target price on shares of First Financial Bankshares and gave the stock a “hold” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. First Financial Bankshares presently has an average rating of “Hold” and an average target price of $30.25.

Shares of FFIN opened at $31.28 on Wednesday. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 28.70 and a beta of 1.14. First Financial Bankshares has a 1-year low of $26.73 and a 1-year high of $33.43. The company’s fifty day simple moving average is $31.22 and its 200 day simple moving average is $48.74.

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

A number of institutional investors and hedge funds have recently modified their holdings of FFIN. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of First Financial Bankshares by 105.9% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,329,365 shares of the bank’s stock valued at $102,511,000 after acquiring an additional 1,712,230 shares during the period. Royal Bank of Canada boosted its position in shares of First Financial Bankshares by 127.8% in the second quarter. Royal Bank of Canada now owns 32,907 shares of the bank’s stock valued at $1,013,000 after acquiring an additional 18,462 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of First Financial Bankshares by 103.5% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,637 shares of the bank’s stock valued at $81,000 after acquiring an additional 1,341 shares during the period. United Services Automobile Association boosted its position in shares of First Financial Bankshares by 100.0% in the second quarter. United Services Automobile Association now owns 20,480 shares of the bank’s stock valued at $631,000 after acquiring an additional 10,240 shares during the period. Finally, Mutual Advisors LLC boosted its position in shares of First Financial Bankshares by 98.1% in the second quarter. Mutual Advisors LLC now owns 19,896 shares of the bank’s stock valued at $613,000 after acquiring an additional 9,853 shares during the period. 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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