First Financial Bankshares (NASDAQ:FFIN) Price Target Cut to $31.00

First Financial Bankshares (NASDAQ:FFIN) had its price target decreased by stock analysts at Stephens from $35.00 to $31.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Stephens’ price objective would indicate a potential upside of 3.30% from the stock’s previous close.

Several other research analysts have also weighed in on FFIN. Keefe, Bruyette & Woods upped their price target on First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Truist Financial lowered their target price 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. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.50.

First Financial Bankshares Price Performance

Shares of FFIN opened at $30.01 on Friday. First Financial Bankshares has a one year low of $22.84 and a one year high of $33.15. The company has a 50-day moving average of $31.11 and a two-hundred day moving average of $28.89. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 21.44 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, April 18th. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.60%. The firm had revenue of $129.63 million during the quarter, compared to analyst estimates of $129.72 million. During the same quarter last year, the business posted $0.39 EPS. The company’s revenue was up 4.3% on a year-over-year basis. Analysts anticipate that First Financial Bankshares will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On First Financial Bankshares

Large investors have recently bought and sold shares of the business. Norden Group LLC acquired a new position in First Financial Bankshares during the first quarter valued at approximately $371,000. State of Michigan Retirement System increased its stake in shares of First Financial Bankshares by 2.3% in the first quarter. State of Michigan Retirement System now owns 31,563 shares of the bank’s stock worth $1,036,000 after purchasing an additional 700 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of First Financial Bankshares by 81.1% in the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock worth $30,000 after purchasing an additional 415 shares during the period. Diversified Trust Co lifted its position in shares of First Financial Bankshares by 60.8% during the 1st quarter. Diversified Trust Co now owns 28,432 shares of the bank’s stock worth $933,000 after purchasing an additional 10,750 shares during the last quarter. Finally, Bridge City Capital LLC boosted its stake in First Financial Bankshares by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 87,506 shares of the bank’s stock valued at $2,871,000 after purchasing an additional 680 shares during the period. 69.78% of the stock is currently owned by 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.