First Financial Bankshares (NASDAQ:FFIN) Price Target Raised to $39.00

First Financial Bankshares (NASDAQ:FFIN) had its price objective boosted by Truist Financial from $31.00 to $39.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the bank’s stock.

Separately, Stephens raised their price objective on First Financial Bankshares from $31.00 to $36.00 and gave the stock an equal weight rating in a report on Friday, July 19th.

First Financial Bankshares Stock Up 2.7 %

FFIN stock opened at $39.46 on Wednesday. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 28.19 and a beta of 0.80. First Financial Bankshares has a fifty-two week low of $22.84 and a fifty-two week high of $39.52. The business has a 50 day moving average price of $30.57 and a 200 day moving average price of $30.69.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $184.94 million during the quarter, compared to the consensus estimate of $134.10 million. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. As a group, sell-side analysts anticipate that First Financial Bankshares will post 1.51 EPS for the current year.

Insider Activity at First Financial Bankshares

In related news, Director Sally Pope Davis purchased 1,800 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was acquired at an average price of $28.75 per share, for a total transaction of $51,750.00. Following the completion of the purchase, the director now directly owns 1,800 shares of the company’s stock, valued at $51,750. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Sally Pope Davis bought 1,800 shares of the stock in a transaction dated Thursday, June 6th. The shares were acquired at an average price of $28.75 per share, with a total value of $51,750.00. Following the completion of the acquisition, the director now directly owns 1,800 shares in the company, valued at $51,750. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Johnny Trotter purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $27.79 per share, with a total value of $27,790.00. Following the completion of the acquisition, the director now directly owns 943,371 shares of the company’s stock, valued at $26,216,280.09. The disclosure for this purchase can be found here. Insiders have purchased 5,243 shares of company stock worth $154,196 in the last quarter. Company insiders own 4.22% of the company’s stock.

Hedge Funds Weigh In On First Financial Bankshares

A number of institutional investors and hedge funds have recently made changes to their positions in FFIN. Lindbrook Capital LLC boosted its position in First Financial Bankshares by 134.8% during the fourth 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. Olistico Wealth LLC acquired a new stake in First Financial Bankshares in the 2nd quarter valued at about $29,000. Hexagon Capital Partners LLC increased its holdings in First Financial Bankshares by 81.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock valued at $30,000 after acquiring an additional 415 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of First Financial Bankshares in the second quarter valued at about $41,000. Finally, SYSTM Wealth Solutions LLC grew its position in shares of First Financial Bankshares by 17.4% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock valued at $88,000 after purchasing an additional 398 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.