First Financial Bankshares (NASDAQ:FFIN) PT Raised to $40.00

First Financial Bankshares (NASDAQ:FFIN) had its price objective increased by equities researchers at Stephens from $37.00 to $40.00 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’ target price indicates a potential upside of 4.17% from the company’s current price.

Separately, Truist Financial upped their target price on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th.

First Financial Bankshares Stock Performance

Shares of FFIN opened at $38.40 on Friday. The company has a market capitalization of $5.49 billion, a PE ratio of 27.43 and a beta of 0.78. The company’s 50 day moving average price is $36.44 and its 200 day moving average price is $33.00. First Financial Bankshares has a 52 week low of $22.84 and a 52 week high of $39.53.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. The business had revenue of $184.94 million for the quarter, compared to analysts’ expectations of $134.10 million. On average, equities analysts forecast that First Financial Bankshares will post 1.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Financial Bankshares

Several hedge funds have recently bought and sold shares of the business. Signaturefd LLC boosted its stake in shares of First Financial Bankshares by 5.0% during the 2nd quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock worth $166,000 after acquiring an additional 270 shares in the last quarter. Crewe Advisors LLC boosted its position in First Financial Bankshares by 6.0% during the second quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock worth $155,000 after purchasing an additional 296 shares during the period. Hexagon Capital Partners LLC grew its holdings in First Financial Bankshares by 81.1% during 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 during the last quarter. Retirement Systems of Alabama raised its position in shares of First Financial Bankshares by 0.3% in the first quarter. Retirement Systems of Alabama now owns 161,287 shares of the bank’s stock valued at $5,292,000 after purchasing an additional 426 shares during the period. Finally, Ballentine Partners LLC lifted its stake in shares of First Financial Bankshares by 4.5% in the first quarter. Ballentine Partners LLC now owns 12,130 shares of the bank’s stock worth $398,000 after buying an additional 521 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

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.