FY2018 EPS Estimates for First Financial Bankshares Inc (FFIN) Boosted by SunTrust Banks

First Financial Bankshares Inc (NASDAQ:FFIN) – Analysts at SunTrust Banks raised their FY2018 earnings estimates for First Financial Bankshares in a note issued to investors on Monday. SunTrust Banks analyst J. Demba now expects that the bank will post earnings of $2.14 per share for the year, up from their previous forecast of $1.84. SunTrust Banks currently has a “Hold” rating and a $48.00 price objective on the stock. SunTrust Banks also issued estimates for First Financial Bankshares’ FY2019 earnings at $2.34 EPS.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.44 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The company had revenue of $83.95 million during the quarter, compared to analyst estimates of $89.87 million. First Financial Bankshares had a return on equity of 12.70% and a net margin of 33.51%. First Financial Bankshares’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share.

Several other equities analysts also recently weighed in on FFIN. Zacks Investment Research downgraded First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $39.00 target price on shares of First Financial Bankshares in a research report on Tuesday, October 3rd. Finally, BidaskClub downgraded First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the stock. First Financial Bankshares has a consensus rating of “Hold” and an average target price of $44.33.

First Financial Bankshares (NASDAQ FFIN) traded up $1.00 during midday trading on Wednesday, reaching $47.70. The company had a trading volume of 154,635 shares, compared to its average volume of 267,054. The stock has a market capitalization of $3,090.00, a P/E ratio of 28.56 and a beta of 1.40. First Financial Bankshares has a 12 month low of $36.85 and a 12 month high of $48.85.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of First Financial Bankshares by 1.3% in the second quarter. Vanguard Group Inc. now owns 5,827,897 shares of the bank’s stock valued at $257,594,000 after acquiring an additional 77,503 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of First Financial Bankshares by 37.9% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,396,940 shares of the bank’s stock valued at $63,142,000 after acquiring an additional 383,924 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of First Financial Bankshares by 5.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,138,840 shares of the bank’s stock valued at $51,475,000 after acquiring an additional 60,011 shares in the last quarter. Northern Trust Corp lifted its position in shares of First Financial Bankshares by 2.6% in the second quarter. Northern Trust Corp now owns 827,438 shares of the bank’s stock valued at $36,573,000 after acquiring an additional 20,741 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of First Financial Bankshares by 2.4% in the second quarter. Principal Financial Group Inc. now owns 540,545 shares of the bank’s stock valued at $23,892,000 after acquiring an additional 12,854 shares in the last quarter. Institutional investors and hedge funds own 51.37% of the company’s stock.

In related news, Director David L. Copeland sold 1,368 shares of First Financial Bankshares stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $45.52, for a total transaction of $62,271.36. Following the transaction, the director now directly owns 33,379 shares in the company, valued at $1,519,412.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.40% of the stock is currently owned by insiders.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 18th were given a dividend of $0.19 per share. The ex-dividend date was Friday, December 15th. This represents a $0.76 annualized dividend and a yield of 1.59%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 45.51%.

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About First Financial Bankshares

First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.

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