First Financial Bankshares (NASDAQ:FFIN) Upgraded to Strong-Buy at Benchmark

First Financial Bankshares (NASDAQ:FFIN) was upgraded by Benchmark to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

FFIN has been the topic of several other research reports. Keefe, Bruyette & Woods reduced their price objective on First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a report on Thursday, April 9th. Weiss Ratings reissued a “hold (c)” rating on shares of First Financial Bankshares in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, First Financial Bankshares presently has an average rating of “Moderate Buy” and a consensus target price of $37.75.

First Financial Bankshares Stock Performance

Shares of FFIN opened at $34.94 on Wednesday. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 18.99 and a beta of 0.83. The stock has a fifty day moving average price of $32.44 and a two-hundred day moving average price of $31.74. First Financial Bankshares has a 52-week low of $28.11 and a 52-week high of $38.74.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Friday, April 17th. The bank reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. First Financial Bankshares had a return on equity of 14.20% and a net margin of 31.00%.The company had revenue of $166.89 million during the quarter, compared to analyst estimates of $166.78 million. During the same period last year, the company posted $0.43 earnings per share. As a group, research analysts predict that First Financial Bankshares will post 2.04 EPS for the current fiscal year.

Insider Activity

In related news, Director Murray Hamilton Edwards purchased 1,000 shares of First Financial Bankshares stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $33.18 per share, for a total transaction of $33,180.00. Following the transaction, the director directly owned 44,634 shares of the company’s stock, valued at approximately $1,480,956.12. This trade represents a 2.29% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Financial Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FFIN. Olistico Wealth LLC acquired a new position in shares of First Financial Bankshares during the 4th quarter worth about $30,000. Quarry LP raised its position in shares of First Financial Bankshares by 66.3% in the 3rd quarter. Quarry LP now owns 1,026 shares of the bank’s stock valued at $35,000 after acquiring an additional 409 shares during the period. Danske Bank A S raised its position in shares of First Financial Bankshares by 200.0% in the 4th quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock valued at $36,000 after acquiring an additional 800 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in First Financial Bankshares during the 4th quarter worth approximately $44,000. Finally, CIBC Private Wealth Group LLC acquired a new position in First Financial Bankshares during the third quarter valued at approximately $50,000. Institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.