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

First Financial Bankshares (NASDAQ:FFIN) had its price target lowered by Stephens from $35.00 to $31.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the bank’s stock.

FFIN has been the subject of a number of other research reports. Truist Financial decreased their target price on shares of First Financial Bankshares from $35.00 to $34.00 and set a hold rating for the company in a research note on Monday, April 1st. Keefe, Bruyette & Woods lifted their price target on First Financial Bankshares from $30.00 to $31.00 and gave the stock a market perform rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $31.33.

First Financial Bankshares Stock Performance

First Financial Bankshares stock opened at $30.42 on Friday. First Financial Bankshares has a fifty-two week low of $22.84 and a fifty-two week high of $33.15. The stock’s 50 day simple moving average is $31.08 and its two-hundred day simple moving average is $28.96. The stock has a market cap of $4.34 billion, a price-to-earnings ratio of 21.73 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, April 18th. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The company 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 14.28% and a net margin of 30.03%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. On average, analysts predict that First Financial Bankshares will post 1.45 earnings per share for the current year.

Hedge Funds Weigh In On First Financial Bankshares

A number of hedge funds have recently bought and sold shares of FFIN. Lindbrook Capital LLC grew its stake in shares of First Financial Bankshares by 134.8% during the 4th quarter. Lindbrook Capital LLC now owns 911 shares of the bank’s stock valued at $28,000 after acquiring an additional 523 shares during the period. Hexagon Capital Partners LLC grew its holdings 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 valued at $30,000 after purchasing an additional 415 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in First Financial Bankshares in the third quarter worth $26,000. Allspring Global Investments Holdings LLC purchased a new stake in First Financial Bankshares during the third quarter valued at $40,000. Finally, Signaturefd LLC lifted its position in First Financial Bankshares by 35.6% during the third quarter. Signaturefd LLC now owns 2,676 shares of the bank’s stock valued at $67,000 after purchasing an additional 703 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

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.