First Financial Bankshares (NASDAQ:FFIN) Price Target Cut to $32.00 by Analysts at Truist Financial

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

Several other research firms also recently weighed in on FFIN. Keefe, Bruyette & Woods lifted their target price on shares of 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. Stephens reduced their target price on shares of First Financial Bankshares from $35.00 to $31.00 and set an equal weight rating for the company in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $31.33.

First Financial Bankshares Stock Performance

NASDAQ FFIN opened at $30.48 on Monday. First Financial Bankshares has a 52-week low of $22.84 and a 52-week high of $33.15. The company has a 50-day simple moving average of $31.08 and a 200 day simple moving average of $29.01. The company has a market capitalization of $4.35 billion, a PE ratio of 21.77 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 earnings per share (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 14.28%. The business had revenue of $129.63 million during the quarter, compared to the consensus estimate of $129.72 million. During the same quarter last year, the company posted $0.39 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, analysts forecast that First Financial Bankshares will post 1.47 EPS for the current fiscal year.

Hedge Funds Weigh In On First Financial Bankshares

A number of large investors have recently modified their holdings of the company. First Financial Bankshares Inc bought a new position in shares of First Financial Bankshares in the fourth quarter valued at approximately $553,577,000. Vanguard Group Inc. boosted its position in shares of First Financial Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,465,552 shares of the bank’s stock valued at $438,306,000 after acquiring an additional 120,252 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of First Financial Bankshares by 1.4% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,615,353 shares of the bank’s stock valued at $90,818,000 after acquiring an additional 50,774 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of First Financial Bankshares by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,365,643 shares of the bank’s stock valued at $71,685,000 after acquiring an additional 49,701 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in First Financial Bankshares by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,568,765 shares of the bank’s stock valued at $47,534,000 after purchasing an additional 46,164 shares during the last quarter. 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.