First Financial Bankshares (NASDAQ:FFIN) Rating Increased to Buy at BidaskClub

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

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

Shares of First Financial Bankshares stock opened at $31.28 on Wednesday. The stock has a market capitalization of $4.23 billion, a P/E ratio of 28.70 and a beta of 1.14. The company has a 50-day simple moving average of $31.22 and a 200 day simple moving average of $48.74. First Financial Bankshares has a 12-month low of $26.73 and a 12-month high of $33.43.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The firm had revenue of $101.26 million during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $0.49 EPS. On average, equities analysts predict that First Financial Bankshares will post 1.2 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of FFIN. Kayne Anderson Rudnick Investment Management LLC boosted its stake in First Financial Bankshares by 105.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,329,365 shares of the bank’s stock worth $102,511,000 after acquiring an additional 1,712,230 shares during the last quarter. Royal Bank of Canada boosted its stake in First Financial Bankshares by 127.8% during the 2nd quarter. Royal Bank of Canada now owns 32,907 shares of the bank’s stock worth $1,013,000 after acquiring an additional 18,462 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in First Financial Bankshares by 103.5% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,637 shares of the bank’s stock worth $81,000 after acquiring an additional 1,341 shares during the last quarter. United Services Automobile Association boosted its stake in First Financial Bankshares by 100.0% during the 2nd quarter. United Services Automobile Association now owns 20,480 shares of the bank’s stock worth $631,000 after acquiring an additional 10,240 shares during the last quarter. Finally, Mutual Advisors LLC boosted its stake in First Financial Bankshares by 98.1% during the 2nd quarter. Mutual Advisors LLC now owns 19,896 shares of the bank’s stock worth $613,000 after acquiring an additional 9,853 shares during the last quarter. Hedge funds and other institutional investors own 55.53% of the company’s stock.

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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