First Financial Bankshares (NASDAQ:FFIN) moves to Sell on StockNews.com

First Financial Banking Stocks (NASDAQ:FFIN – Rating Maintained) was downgraded to a “sell” rating from a “hold” rating by StockNews.com in a report published Monday.

Separately, Truist Financial lowered its price target on First Financial Bankshares to $42.00 from $44.00 in a research report on Wednesday, June 15.

NASDAQ:FFIN shares on Monday rose $0.57 to hit $38.26. 20,187 shares of the company were traded compared to an average volume of 468,070. First Financial Bankshares has a 52-week low of $37.47 and a 52-week high of $55.00. The stock has a 50-day simple moving average of $40.80 and a 200-day simple moving average of $45.58. The company has a market cap of $5.46 billion, a P/E of 24.22 and a beta of 0.86.

First Financial Bankshares (NASDAQ:FFIN – Get Rating) last released its quarterly earnings results on Thursday, April 21st. The bank reported earnings per share of $0.39 for the quarter, beating the consensus estimate of $0.36 by $0.03. First Financial Bankshares had a return on equity of 13.04% and a net margin of 43.17%. The company had revenue of $134.10 million for the quarter, compared to the consensus estimate of $129.97 million. On average, equity analysts expect First Financial Bankshares to report 1.57 EPS for the year to date.

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In related news, Director Kade Matthews purchased 5,000 shares of the stock in a transaction on Friday, April 29. The shares were purchased at an average price of $40.80 per share for a total value of $204,000.00. Following the transaction, the Director now directly owns 10,848 shares of the Company, valued at $442,598.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC’s website. In addition, director Johnny Trotter acquired 1,000 shares of the stock in a transaction on Friday, June 10. The shares were purchased at an average price of $39.34 per share for a total transaction of $39,340.00. Upon completion of the transaction, the Director now owns 893,757 shares of the Company, valued at $35,160,400.38. The disclosure for this purchase can be found here. Insiders have bought 19,000 shares of the company’s shares for $773,925 over the past three months. Insiders own 4.19% of the company’s stock.

Institutional investors and hedge funds have recently changed their stock holdings. Squarepoint Ops LLC acquired a new interest in First Financial Bankshares valued at approximately $409,000 during Q3. Ardevora Asset Management LLP increased its holding in First Financial Bankshares by 1.4% in the fourth quarter. Ardevora Asset Management LLP now owns 1,269,303 shares of the bank valued at $64,531,000 after purchasing an additional 17,100 shares last quarter. Eagle Asset Management Inc. increased its holding in First Financial Bankshares by 20.7% in the fourth quarter. Eagle Asset Management Inc. now owns 757,502 shares of the bank valued at $38,776,000 after purchasing an additional 130,110 shares last quarter. Goldman Sachs Group Inc. increased its stake in First Financial Bankshares by 11.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,481,520 shares of the bank valued at $75,320,000 after purchasing an additional 152,859 shares last quarter. Finally, during the fourth quarter, Cim Investment Management Inc. increased its stake in First Financial Bankshares by 100.0%. Cim Investment Management Inc. now owns 10,340 shares of the bank, valued at $501,000, after purchasing an additional 5,170 shares last quarter. 53.35% of the shares are currently held by institutional investors.

About First Financial Bank Stocks (get rating)

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts giro, savings and money market accounts as well as time deposits; commercial and industrial, municipal, agricultural, construction and development real estate, agricultural, non-occupied and owner-occupied commercial real estate, residential and consumer auto and non-auto loans to businesses, self-employed individuals, and farm and ranch operations.

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