Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for First Financial Bankshares (NASDAQ:FFIN) Stock

First Financial Bankshares (NASDAQ:FFIN) had its price objective upped by equities researchers at Keefe, Bruyette & Woods from $36.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential downside of 1.94% from the company’s current price.

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

First Financial Bankshares Stock Performance

Shares of NASDAQ FFIN traded down $0.06 during trading on Wednesday, hitting $40.79. 42,389 shares of the company traded hands, compared to its average volume of 535,547. The business’s fifty day moving average is $38.76 and its 200 day moving average is $35.10. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 28.13 and a beta of 0.81. First Financial Bankshares has a fifty-two week low of $26.54 and a fifty-two 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. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. The business had revenue of $142.10 million for the quarter, compared to the consensus estimate of $140.25 million. On average, analysts predict that First Financial Bankshares will post 1.52 EPS for the current year.

Insiders Place Their Bets

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $41.12, for a total value of $287,840.00. Following the transaction, the director now directly owns 101,085 shares in the company, valued at $4,156,615.20. The trade was a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.22% of the company’s stock.

Institutional Investors Weigh In On First Financial Bankshares

Hedge funds have recently modified their holdings of the stock. Neo Ivy Capital Management purchased a new stake in First Financial Bankshares in the second quarter worth $41,000. Quarry LP bought a new position in shares of First Financial Bankshares during the 2nd quarter worth $83,000. Huntington National Bank increased its holdings in First Financial Bankshares by 32.2% in the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock worth $88,000 after acquiring an additional 577 shares during the last quarter. Point72 DIFC Ltd bought a new stake in First Financial Bankshares in the 2nd quarter valued at about $97,000. Finally, Point72 Asset Management L.P. purchased a new stake in First Financial Bankshares during the second quarter valued at about $118,000. Institutional investors own 69.78% of the company’s stock.

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.