UPDATE: Sterne Agee Downgrades First Financial Bankshares to Underperform, Reiterates $55 PT on Valuation

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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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Posted In: Analyst ColorDowngradesAnalyst RatingsBrett RabatinSterne Agee
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