First Financial Bankshares, Inc. (NASDAQ:FFIN) Stock Has Consensus Price Target of $35.20 According to Analysts

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) have received a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $35.20.

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $34.00 price objective (down from $35.00) on shares of First Financial Bankshares in a research note on Friday, October 16th. Raymond James Financial began coverage on First Financial Bankshares in a research note on Wednesday, October 14th. They issued a “market perform” rating on the stock. Hovde Group initiated coverage on First Financial Bankshares in a report on Friday, September 11th. They set a “market perform” rating and a $36.00 target price on the stock. Cantor Fitzgerald lowered their target price on First Financial Bankshares from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Wednesday, October 14th. Finally, Weiss Ratings downgraded First Financial Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th.

Insider Buying and Selling at First Financial Bankshares

In related news, CAO Ronald David Butler II sold 15,000 shares of First Financial Bankshares stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $34.95, for a total transaction of $524,250.00. Following the completion of the sale, the chief accounting officer owned 152,223 shares in the company, valued at approximately $5,320,193.85. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Denny bought 3,245 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was purchased at an average cost of $30.76 per share, with a total value of $99,816.20. Following the purchase, the director directly owned 9,745 shares in the company, valued at $299,756.20. The trade was a 49.92% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 7,065 shares of company stock worth $228,495 over the last 90 days. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On First Financial Bankshares

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of First Financial Bankshares by 1.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,760,965 shares of the bank’s stock worth $81,309,000 after purchasing an additional 45,052 shares during the last quarter. Principal Financial Group Inc. increased its stake in First Financial Bankshares by 4.4% in the first quarter. Principal Financial Group Inc. now owns 297,075 shares of the bank’s stock valued at $8,749,000 after purchasing an additional 12,454 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in First Financial Bankshares by 4.2% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 252,656 shares of the bank’s stock valued at $8,742,000 after purchasing an additional 10,244 shares during the last quarter. Swiss National Bank lifted its position in First Financial Bankshares by 0.4% during the first quarter. Swiss National Bank now owns 240,900 shares of the bank’s stock worth $7,095,000 after buying an additional 1,000 shares during the period. Finally, California Public Employees Retirement System lifted its position in First Financial Bankshares by 0.7% during the first quarter. California Public Employees Retirement System now owns 236,597 shares of the bank’s stock worth $6,968,000 after buying an additional 1,761 shares during the period. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Trading Up 2.8%

Shares of NASDAQ FFIN opened at $31.44 on Tuesday. The company’s 50-day moving average price is $31.97 and its 200 day moving average price is $32.50. First Financial Bankshares has a 52 week low of $28.11 and a 52 week high of $36.52. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 14.93 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, October 15th. The bank reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. First Financial Bankshares had a net margin of 33.16% and a return on equity of 14.91%. The company had revenue of $174.14 million during the quarter, compared to analysts’ expectations of $178.63 million. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, research analysts expect that First Financial Bankshares will post 2.05 earnings per share for the current year.

About First Financial Bankshares

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene, Texas. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations. The bank traces its roots to 1890 and has grown through expansion and acquisitions into a regional banking organization serving communities across Texas.

First Financial Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts.