First Financial Bankshares (NASDAQ:FFIN) Given New $40.00 Price Target at Hovde Group

First Financial Bankshares (NASDAQ:FFIN) had its target price hoisted by Hovde Group from $34.50 to $40.00 in a research report report published on Monday morning, Marketbeat Ratings reports. They currently have a market perform rating on the bank’s stock.

Other equities research analysts have also issued research reports about the company. Truist Financial upped their price objective 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. Stephens raised their price target on shares of First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday.

First Financial Bankshares Trading Down 3.6 %

Shares of NASDAQ FFIN opened at $37.02 on Monday. First Financial Bankshares has a 12 month low of $22.84 and a 12 month high of $39.53. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 26.44 and a beta of 0.78. The company has a 50 day simple moving average of $36.49 and a two-hundred day simple moving average of $33.05.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in First Financial Bankshares by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,465,552 shares of the bank’s stock worth $438,306,000 after acquiring an additional 120,252 shares during the period. Los Angeles Capital Management LLC purchased a new position in First Financial Bankshares in the 1st quarter valued at about $532,000. Ballentine Partners LLC lifted its stake in First Financial Bankshares by 4.5% in the 1st quarter. Ballentine Partners LLC now owns 12,130 shares of the bank’s stock valued at $398,000 after buying an additional 521 shares in the last quarter. Diversified Trust Co boosted its stake in shares of First Financial Bankshares by 60.8% in the first quarter. Diversified Trust Co now owns 28,432 shares of the bank’s stock worth $933,000 after acquiring an additional 10,750 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in First Financial Bankshares by 81.1% during 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 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.