Truist Financial Cuts First Financial Bankshares (NASDAQ:FFIN) Price Target to $32.00

First Financial Bankshares (NASDAQ:FFIN) had its price objective cut by Truist Financial from $34.00 to $32.00 in a research report report published on Monday, Benzinga reports. They currently have a hold rating on the bank’s stock.

Several other equities analysts have also weighed in on the stock. Stephens dropped their price objective on shares of First Financial Bankshares from $35.00 to $31.00 and set an equal weight rating on the stock in a report on Friday, April 19th. Keefe, Bruyette & Woods upped their price objective on shares of First Financial Bankshares from $30.00 to $31.00 and gave the company a market perform rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, First Financial Bankshares has a consensus rating of Hold and an average target price of $31.33.

First Financial Bankshares Stock Down 0.2 %

FFIN stock opened at $30.41 on Monday. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 21.72 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 company’s fifty day simple moving average is $31.04 and its 200 day simple moving average is $29.02.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.28%. The business had revenue of $129.63 million for the quarter, compared to analyst estimates of $129.72 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. First Financial Bankshares’s revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts expect that First Financial Bankshares will post 1.47 earnings per share for the current year.

Institutional Investors Weigh In On First Financial Bankshares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. increased its position in shares of First Financial Bankshares by 1.5% during the fourth quarter. Blue Trust Inc. now owns 24,927 shares of the bank’s stock worth $755,000 after acquiring an additional 379 shares in the last quarter. Hexagon Capital Partners LLC grew its position in First Financial Bankshares by 81.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock worth $30,000 after purchasing an additional 415 shares in the last quarter. Retirement Systems of Alabama grew its position in First Financial Bankshares by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 160,861 shares of the bank’s stock worth $4,874,000 after purchasing an additional 455 shares in the last quarter. Ballentine Partners LLC grew its position in First Financial Bankshares by 4.5% in the 1st quarter. Ballentine Partners LLC now owns 12,130 shares of the bank’s stock worth $398,000 after purchasing an additional 521 shares in the last quarter. Finally, Lindbrook Capital LLC grew its position in First Financial Bankshares by 134.8% in the 4th quarter. Lindbrook Capital LLC now owns 911 shares of the bank’s stock worth $28,000 after purchasing an additional 523 shares in the last quarter. 69.78% of the stock is 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.