First Financial Bankshares (NASDAQ:FFIN) Price Target Raised to $38.00

First Financial Bankshares (NASDAQ:FFIN) had its price target upped by research analysts at Keefe, Bruyette & Woods from $36.00 to $38.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 0.05% from the stock’s previous close.

Separately, Hovde Group decreased their price objective on shares of First Financial Bankshares from $40.00 to $38.00 and set a “market perform” rating on the stock in a report on Monday, April 21st.

First Financial Bankshares Price Performance

FFIN stock opened at $37.98 on Friday. The firm has a market cap of $5.43 billion, a PE ratio of 23.44 and a beta of 0.87. First Financial Bankshares has a 12 month low of $30.58 and a 12 month high of $44.66. The firm has a 50 day simple moving average of $36.01 and a 200 day simple moving average of $35.75.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $156.60 million during the quarter, compared to analysts’ expectations of $156.41 million. First Financial Bankshares had a net margin of 30.01% and a return on equity of 14.31%. During the same quarter in the previous year, the company earned $0.37 earnings per share. As a group, sell-side analysts expect that First Financial Bankshares will post 1.78 earnings per share for the current year.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny bought 5,000 shares of First Financial Bankshares stock in a transaction on Friday, June 13th. The shares were purchased at an average cost of $36.02 per share, with a total value of $180,100.00. Following the acquisition, the director directly owned 108,708 shares of the company’s stock, valued at $3,915,662.16. The trade was a 4.82% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have purchased 6,399 shares of company stock valued at $227,646. Company insiders own 4.22% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its stake in shares of First Financial Bankshares by 57.4% in the 2nd quarter. Avior Wealth Management LLC now owns 23,800 shares of the bank’s stock valued at $856,000 after acquiring an additional 8,678 shares in the last quarter. Ballentine Partners LLC increased its stake in shares of First Financial Bankshares by 2.2% in the 2nd quarter. Ballentine Partners LLC now owns 13,358 shares of the bank’s stock valued at $481,000 after acquiring an additional 293 shares in the last quarter. Diversified Trust Co increased its stake in shares of First Financial Bankshares by 4.8% in the 2nd quarter. Diversified Trust Co now owns 46,261 shares of the bank’s stock valued at $1,664,000 after acquiring an additional 2,123 shares in the last quarter. Baron Wealth Management LLC bought a new stake in shares of First Financial Bankshares in the 2nd quarter valued at $242,000. Finally, Strs Ohio bought a new stake in shares of First Financial Bankshares in the 1st quarter valued at $402,000. 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.