First Financial Bankshares (NASDAQ:FFIN) Cut to “Sell” at StockNews.com

First Financial Bankshares (NASDAQ:FFINGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

Separately, Truist Financial dropped their price objective on First Financial Bankshares from $44.00 to $42.00 in a research report on Wednesday, June 15th.

Shares of NASDAQ:FFIN traded up $0.57 on Monday, hitting $38.26. 20,187 shares of the company traded hands, compared to its 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 PE ratio of 24.22 and a beta of 0.86.

First Financial Bankshares (NASDAQ:FFINGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The bank reported $0.39 earnings per share 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 firm had revenue of $134.10 million during the quarter, compared to the consensus estimate of $129.97 million. On average, equities analysts anticipate that First Financial Bankshares will post 1.57 EPS for the current year.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC bought a new stake in First Financial Bankshares during the 3rd quarter valued at approximately $409,000. Ardevora Asset Management LLP increased its stake in First Financial Bankshares by 1.4% in the 4th quarter. Ardevora Asset Management LLP now owns 1,269,303 shares of the bank’s stock worth $64,531,000 after acquiring an additional 17,100 shares during the last quarter. Eagle Asset Management Inc. increased its stake in First Financial Bankshares by 20.7% in the 4th quarter. Eagle Asset Management Inc. now owns 757,502 shares of the bank’s stock worth $38,776,000 after acquiring an additional 130,110 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in First Financial Bankshares by 11.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,481,520 shares of the bank’s stock worth $75,320,000 after acquiring an additional 152,859 shares during the last quarter. Finally, Cim Investment Management Inc. increased its stake in First Financial Bankshares by 100.0% in the 4th quarter. Cim Investment Management Inc. now owns 10,340 shares of the bank’s stock worth $501,000 after acquiring an additional 5,170 shares during the last quarter. 53.35% of the stock is currently owned by institutional investors.

About First Financial Bankshares (Get Rating)

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

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