Cantor Fitzgerald Begins Coverage on First Financial Bankshares (NASDAQ:FFIN)

Analysts at Cantor Fitzgerald started coverage on shares of First Financial Bankshares (NASDAQ:FFIN) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $39.00 price target on the bank’s stock. Cantor Fitzgerald’s price target points to a potential upside of 8.18% from the company’s current price.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods upped their price objective on First Financial Bankshares from $36.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, July 18th. Hovde Group boosted their price target on First Financial Bankshares from $38.00 to $39.00 and gave the stock a “market perform” rating in a research report on Monday, July 21st. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $39.20.

First Financial Bankshares Price Performance

Shares of FFIN opened at $36.05 on Tuesday. The company has a market cap of $5.16 billion, a P/E ratio of 20.96 and a beta of 0.89. The stock has a fifty day moving average price of $36.27 and a 200 day moving average price of $35.50. First Financial Bankshares has a 12 month low of $30.58 and a 12 month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $156.60 million during the quarter, compared to the consensus estimate of $156.41 million. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.During the same period in the prior year, the business earned $0.37 EPS. As a group, research analysts anticipate that First Financial Bankshares will post 1.78 earnings per share for the current year.

Insider Activity at First Financial Bankshares

In related news, Director Michael B. Denny bought 5,000 shares of First Financial Bankshares stock in a transaction dated Friday, June 13th. The stock was acquired at an average cost of $36.02 per share, with a total value of $180,100.00. Following the completion of the acquisition, the director directly owned 108,708 shares in the company, valued at approximately $3,915,662.16. This trade represents a 4.82% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Financial Bankshares

Several hedge funds have recently modified their holdings of the stock. Investment Research & Advisory Group Inc. acquired a new position in First Financial Bankshares during the first quarter valued at $26,000. Fifth Third Bancorp raised its position in First Financial Bankshares by 161.5% during the first quarter. Fifth Third Bancorp now owns 714 shares of the bank’s stock valued at $26,000 after buying an additional 441 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in First Financial Bankshares in the 1st quarter worth about $36,000. Smartleaf Asset Management LLC increased its position in First Financial Bankshares by 47.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank’s stock worth $45,000 after purchasing an additional 404 shares during the last quarter. Finally, State of Wyoming acquired a new position in First Financial Bankshares in the 2nd quarter worth about $54,000. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Company Profile

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.