Stephens Reiterates “Neutral” Rating for First Financial Bankshares (FFIN)
First Financial Bankshares (NASDAQ:FFIN)‘s stock had its “neutral” rating reissued by stock analysts at Stephens in a report released on Monday, AnalystRatings.com reports. They presently have a $57.00 target price on the bank’s stock. Stephens’ price objective suggests a potential downside of 6.23% from the stock’s current price.
The analysts wrote, “We view operating EPS as $0.57 (ex pension plan settlement), above consensus forecasts of $0.56. PPNR of $47.5 million was below consensus forecast of $48.4 million but was offset by an LLP expense beat of $600K due to credit improvement. Our rating is Equal-Weight.””
Several other research firms have also recently issued reports on FFIN. BidaskClub cut First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Zacks Investment Research raised First Financial Bankshares from a “sell” rating to a “hold” rating in a research note on Monday, January 21st.
First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, April 18th. The bank reported $0.56 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.56. The business had revenue of $95.77 million for the quarter, compared to analysts’ expectations of $96.90 million. First Financial Bankshares had a return on equity of 15.38% and a net margin of 38.47%. During the same period in the previous year, the firm earned $0.51 EPS. As a group, equities analysts predict that First Financial Bankshares will post 2.39 earnings per share for the current fiscal year.
In other news, Director Johnny Trotter purchased 5,000 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $60.49 per share, with a total value of $302,450.00. Following the completion of the purchase, the director now directly owns 389,926 shares in the company, valued at $23,586,623.74. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.90% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Virginia Retirement Systems ET AL boosted its holdings in First Financial Bankshares by 3.2% in the fourth quarter. Virginia Retirement Systems ET AL now owns 9,700 shares of the bank’s stock worth $560,000 after acquiring an additional 300 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of First Financial Bankshares during the fourth quarter valued at $267,000. Teachers Advisors LLC lifted its holdings in shares of First Financial Bankshares by 2.6% during the third quarter. Teachers Advisors LLC now owns 127,652 shares of the bank’s stock valued at $7,544,000 after purchasing an additional 3,224 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in shares of First Financial Bankshares by 6.2% during the fourth quarter. Natixis Advisors L.P. now owns 181,275 shares of the bank’s stock valued at $10,457,000 after purchasing an additional 10,581 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of First Financial Bankshares by 93.4% during the fourth quarter. Citigroup Inc. now owns 53,763 shares of the bank’s stock valued at $3,102,000 after purchasing an additional 25,964 shares in the last quarter. 54.89% of the stock is currently owned by institutional investors and hedge funds.
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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