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In a report published Tuesday, Sterne Agee analyst Brett Rabatin downgraded the rating on
First Financial BanksharesFFIN from Neutral to Underperform, but reiterated the $55.00 price target.
In the report, Sterne Agee noted, “We are lowering FFIN from Neutral to Underperform. Our basic call is that underperformance, at least on a relative basis, is pragmatic with the valuation fully reflecting the benefit of excess capital deployment that has yet to transpire.”
First Financial Bankshares closed on Monday at $62.93.
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