First Financial Bankshares (NASDAQ:FFIN) Price Target Raised to $40.00 at Keefe, Bruyette & Woods

First Financial Bankshares (NASDAQ:FFIN) had its price objective boosted by equities researchers at Keefe, Bruyette & Woods from $36.00 to $40.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential downside of 2.30% from the company’s current price.

A number of other equities research analysts have also issued reports on FFIN. Hovde Group upped their price target on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Truist Financial upped their target price on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, Stephens lifted their price target on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th.

First Financial Bankshares Stock Down 0.9 %

First Financial Bankshares stock opened at $40.94 on Wednesday. The company has a fifty day simple moving average of $38.93 and a 200-day simple moving average of $35.19. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 28.23 and a beta of 0.81. First Financial Bankshares has a 52-week low of $26.54 and a 52-week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. The firm had revenue of $142.10 million for the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. On average, research analysts anticipate that First Financial Bankshares will post 1.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael B. Denny sold 7,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the sale, the director now directly owns 101,085 shares of the company’s stock, valued at approximately $4,156,615.20. This trade represents a 6.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.22% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new stake in shares of First Financial Bankshares in the 2nd quarter valued at approximately $41,000. Quarry LP acquired a new stake in First Financial Bankshares in the 2nd quarter valued at approximately $83,000. Huntington National Bank raised its position in First Financial Bankshares by 32.2% in the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after purchasing an additional 577 shares during the period. Point72 DIFC Ltd acquired a new position in First Financial Bankshares during the second quarter worth $97,000. Finally, Point72 Asset Management L.P. acquired a new position in First Financial Bankshares during the second quarter worth $118,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

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.