First Financial Bankshares (NASDAQ:FFIN) PT Raised to $39.00 at Truist Financial

First Financial Bankshares (NASDAQ:FFIN) had its price target upped by stock analysts at Truist Financial from $31.00 to $39.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the bank’s stock. Truist Financial’s price objective would indicate a potential upside of 1.46% from the stock’s previous close.

Separately, Stephens boosted their target price on shares of First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th.

First Financial Bankshares Stock Performance

FFIN stock opened at $38.44 on Wednesday. The firm has a 50 day moving average price of $30.42 and a 200-day moving average price of $30.62. First Financial Bankshares has a 52-week low of $22.84 and a 52-week high of $38.79. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 27.46 and a beta of 0.80.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $184.94 million for the quarter, compared to analysts’ expectations of $134.10 million. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. As a group, sell-side analysts forecast that First Financial Bankshares will post 1.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On First Financial Bankshares

A number of institutional investors have recently modified their holdings of FFIN. Lindbrook Capital LLC increased its holdings in First Financial Bankshares by 134.8% during the fourth quarter. Lindbrook Capital LLC now owns 911 shares of the bank’s stock valued at $28,000 after buying an additional 523 shares during the period. Olistico Wealth LLC acquired a new stake in shares of First Financial Bankshares during the second quarter worth $29,000. Hexagon Capital Partners LLC lifted its stake in shares of First Financial Bankshares by 81.1% during the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock worth $30,000 after buying an additional 415 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of First Financial Bankshares during the second quarter worth $41,000. Finally, SYSTM Wealth Solutions LLC lifted its stake in shares of First Financial Bankshares by 17.4% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock worth $88,000 after buying an additional 398 shares during the period. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Company Profile

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.