First Financial Bankshares (NASDAQ:FFIN) PT Lowered to $32.00

First Financial Bankshares (NASDAQ:FFIN) had its price objective dropped by research analysts at Truist Financial from $34.00 to $32.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the bank’s stock. Truist Financial’s target price suggests a potential upside of 4.88% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Stephens decreased their price objective on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Keefe, Bruyette & Woods raised their price objective on shares of First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, First Financial Bankshares currently has a consensus rating of “Hold” and an average target price of $31.33.

First Financial Bankshares Price Performance

Shares of FFIN stock opened at $30.51 on Monday. The firm has a 50-day moving average of $31.09 and a 200-day moving average of $29.00. The company has a market cap of $4.36 billion, a P/E ratio of 21.79 and a beta of 0.82. First Financial Bankshares has a one year low of $22.84 and a one year high of $33.15.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, April 18th. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The company had revenue of $129.63 million during the quarter, compared to the consensus estimate of $129.72 million. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.28%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. As a group, research analysts expect that First Financial Bankshares will post 1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Financial Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FFIN. First Command Advisory Services Inc. bought a new position in First Financial Bankshares during the third quarter worth about $26,000. 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 during the period. Hexagon Capital Partners LLC boosted its position in 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 purchasing an additional 415 shares during the period. Allspring Global Investments Holdings LLC bought a new position in First Financial Bankshares during the third quarter worth about $40,000. Finally, Signaturefd LLC boosted its position in First Financial Bankshares by 35.6% during the third quarter. Signaturefd LLC now owns 2,676 shares of the bank’s stock worth $67,000 after purchasing an additional 703 shares during the period. 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.