First Financial Bankshares (NASDAQ:FFIN) Price Target Cut to $31.00 by Analysts at Stephens

First Financial Bankshares (NASDAQ:FFIN) had its price target lowered by Stephens from $35.00 to $31.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the bank’s stock.

A number of other equities research analysts also recently issued reports on FFIN. Keefe, Bruyette & Woods increased their target price on shares of First Financial Bankshares from $30.00 to $31.00 and gave the stock a market perform rating in a research report on Friday, January 26th. Truist Financial cut their price objective on First Financial Bankshares from $35.00 to $34.00 and set a hold rating for the company in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $31.33.

First Financial Bankshares Trading Up 1.4 %

Shares of FFIN stock opened at $30.42 on Friday. The company has a market capitalization of $4.34 billion, a price-to-earnings ratio of 21.73 and a beta of 0.82. First Financial Bankshares has a 1-year low of $22.84 and a 1-year high of $33.15. The stock’s fifty day simple moving average is $31.08 and its 200-day simple moving average is $28.96.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, April 18th. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $129.63 million for the quarter, compared to analysts’ expectations of $129.72 million. First Financial Bankshares had a return on equity of 14.28% and a net margin of 30.03%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. On average, sell-side analysts predict that First Financial Bankshares will post 1.45 EPS for the current year.

Institutional Investors Weigh In On First Financial Bankshares

A number of large investors have recently added to or reduced their stakes in FFIN. Strategic Financial Concepts LLC acquired a new stake in shares of First Financial Bankshares in the first quarter worth $2,631,000. Norden Group LLC bought a new position in First Financial Bankshares in the 1st quarter worth $371,000. State of Michigan Retirement System lifted its position in First Financial Bankshares by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 31,563 shares of the bank’s stock worth $1,036,000 after acquiring an additional 700 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in First Financial Bankshares by 81.1% during the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock valued at $30,000 after acquiring an additional 415 shares during the period. Finally, Diversified Trust Co grew its position in shares of First Financial Bankshares by 60.8% in the first quarter. Diversified Trust Co now owns 28,432 shares of the bank’s stock valued at $933,000 after purchasing an additional 10,750 shares during the last quarter. Institutional investors own 69.78% of the company’s stock.

About First Financial Bankshares

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.