Stephens Maintains Their Hold Rating on First Financial Bankshares (FFIN)

By Carrie Williams

Stephens analyst Matt Olney maintained a Hold rating on First Financial Bankshares (FFINResearch Report) today and set a price target of $30. The company’s shares opened today at $29.60.

Olney commented:

“We view operating EPS as $0.30 (ex the securities gain), above consensus forecasts of $0.29. PPNR of $50.6 million was above consensus forecast of $49.9 million, boosted by strong mortgage fee income. Lower LLP expense also contributed $0.01 to EPS. Our rating is Equal-Weight. KEY POINTS: Positive Takeaways. Loan growth of +6.0% LQA was above consensus forecast of +5%. Fee income was solid at $27.3 million vs. street forecast of $26.1 million, and was above our estimate and driven by strong mortgage. LLP expense of $600k came in below expectations of $1.5 million. NCOs were just 4 bps, below consensus forecast of 9 bps.”

According to TipRanks.com, Olney is a 1-star analyst with an average return of -0.2% and a 43.3% success rate. Olney covers the Financial sector, focusing on stocks such as Spirit Of Texas Bancshares Inc, Business First Bancshares Inc, and Hancock Whitney Corporation.

First Financial Bankshares has an analyst consensus of Hold, with a price target consensus of $27.50, representing a -7.1% downside. In a report released today, Piper Jaffray also maintained a Hold rating on the stock with a $26.50 price target.

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First Financial Bankshares’ market cap is currently $4.04B and has a P/E ratio of 26.55. The company has a Price to Book ratio of 3.65.

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FFIN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

First Financial Bankshares, Inc. is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans.