First Financial Bankshares (NASDAQ:FFIN) PT Lowered to $31.00

First Financial Bankshares (NASDAQ:FFIN) had its price objective dropped by stock analysts at Stephens from $35.00 to $31.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the bank’s stock. Stephens’ target price would suggest a potential upside of 6.35% from the company’s current price.

A number of other research firms have also commented on FFIN. Truist Financial decreased their price objective on First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Keefe, Bruyette & Woods raised their price target on First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.50.

First Financial Bankshares Trading Up 1.2 %

Shares of FFIN stock traded up $0.35 during mid-day trading on Friday, reaching $29.15. The stock had a trading volume of 211,739 shares, compared to its average volume of 501,775. The company has a market cap of $4.16 billion, a P/E ratio of 20.82 and a beta of 0.82. First Financial Bankshares has a 12-month low of $22.84 and a 12-month high of $33.15. The business has a 50-day simple moving average of $31.14 and a 200 day simple moving average of $28.81.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $129.63 million for the quarter, compared to analyst estimates of $129.72 million. First Financial Bankshares had a return on equity of 14.53% and a net margin of 31.28%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. Research analysts anticipate that First Financial Bankshares will post 1.45 EPS for the current year.

Institutional Investors Weigh In On First Financial Bankshares

Several hedge funds have recently modified their holdings of FFIN. First Financial Bankshares Inc purchased a new stake in shares of First Financial Bankshares during the 4th quarter valued at about $553,577,000. Norges Bank purchased a new stake in shares of First Financial Bankshares during the 4th quarter valued at about $42,435,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of First Financial Bankshares by 19.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,513,355 shares of the bank’s stock valued at $112,076,000 after buying an additional 570,999 shares during the period. State Street Corp increased its holdings in First Financial Bankshares by 8.6% during the 2nd quarter. State Street Corp now owns 5,881,523 shares of the bank’s stock worth $168,569,000 after purchasing an additional 468,161 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in First Financial Bankshares by 2.3% during the 2nd quarter. BlackRock Inc. now owns 15,408,942 shares of the bank’s stock worth $439,001,000 after purchasing an additional 339,634 shares during the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

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.