First Financial Bankshares, Inc. (NASDAQ:FFIN) Stock Has Average Price Target of $35.20

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

FFIN has been the topic of a number of research reports. Weiss Ratings lowered First Financial Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, September 25th. Hovde Group began coverage on shares of First Financial Bankshares in a research note on Friday, September 11th. They set a “market perform” rating and a $36.00 target price on the stock. Raymond James Financial started coverage on shares of First Financial Bankshares in a report on Wednesday, October 14th. They set a “market perform” rating for the company. Piper Sandler dropped their target price on shares of First Financial Bankshares from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Finally, Cantor Fitzgerald reduced their target price on shares of First Financial Bankshares from $35.00 to $34.00 and set a “neutral” rating for the company in a research report on Wednesday, October 14th.

First Financial Bankshares Price Performance

NASDAQ FFIN opened at $30.00 on Tuesday. The stock’s 50 day simple moving average is $32.45 and its 200-day simple moving average is $32.53. The company has a market cap of $4.30 billion, a PE ratio of 14.78 and a beta of 0.82. First Financial Bankshares has a 1-year low of $28.11 and a 1-year high of $36.52.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, October 15th. The bank reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. First Financial Bankshares had a return on equity of 14.91% and a net margin of 33.16%. The firm had revenue of $174.14 million during the quarter, compared to analysts’ expectations of $178.63 million. During the same period in the previous year, the business earned $0.36 earnings per share. On average, equities research analysts anticipate that First Financial Bankshares will post 2.05 EPS for the current fiscal year.

Insider Transactions at First Financial Bankshares

In related news, CAO Ronald David Butler II sold 15,000 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.95, for a total transaction of $524,250.00. Following the transaction, the chief accounting officer directly owned 152,223 shares in the company, valued at approximately $5,320,193.85. The trade was a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Denny acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average cost of $34.66 per share, with a total value of $103,980.00. Following the purchase, the director owned 6,500 shares in the company, valued at $225,290. This represents a 85.71% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FFIN. Dimensional Fund Advisors LP boosted its holdings in shares of First Financial Bankshares by 1.7% during the 1st 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 holdings in shares of 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 holdings in shares of 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 increased its holdings in shares of First Financial Bankshares by 0.4% in the first quarter. Swiss National Bank now owns 240,900 shares of the bank’s stock valued at $7,095,000 after purchasing an additional 1,000 shares during the last quarter. 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 in the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

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.