KBW Assumes Coverage on First Financial Bankshares at Market Perform.

KBW is out with its report today on First Financial Bankshares

, assuming coverage on FFIN at Market Perform. In a note to clients, KBW writes, "We are assuming coverage of First Financial Bankshares, Inc. with a Market Perform rating and $32 12-month price target. First Financial is a rural Texas bank with solid asset quality and above-average returns, which we believe is soon to participate in another accretive consolidation wave of smaller Texas banks. While an impressive company, the rather full valuation keeps us at Market Perform." Shares of FFIN closed Tuesday at $33.92, up 0.30% from Monday's close.