Keefe, Bruyette & Woods Cuts First Financial Bankshares (NASDAQ:FFIN) Price Target to $36.00

First Financial Bankshares (NASDAQ:FFIN) had its price target trimmed by Keefe, Bruyette & Woods from $38.00 to $36.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

Other research analysts have also recently issued research reports about the company. Cantor Fitzgerald assumed coverage on First Financial Bankshares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a report on Tuesday, October 14th. Finally, Hovde Group boosted their target price on shares of First Financial Bankshares from $38.00 to $39.00 and gave the company a “market perform” rating in a research note on Monday, July 21st. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.00.

First Financial Bankshares Stock Performance

NASDAQ FFIN opened at $31.12 on Friday. The stock has a market capitalization of $4.45 billion, a P/E ratio of 18.41 and a beta of 0.86. First Financial Bankshares has a 1 year low of $30.50 and a 1 year high of $44.66. The business’s fifty day moving average is $34.72 and its two-hundred day moving average is $35.06.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, October 23rd. The bank reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.11). The company had revenue of $162.06 million during the quarter, compared to the consensus estimate of $161.21 million. First Financial Bankshares had a net margin of 29.81% and a return on equity of 14.16%. First Financial Bankshares’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 EPS. On average, research analysts forecast that First Financial Bankshares will post 1.78 earnings per share for the current year.

Hedge Funds Weigh In On First Financial Bankshares

A number of hedge funds have recently modified their holdings of FFIN. Corsicana & Co. acquired a new position in shares of First Financial Bankshares in the third quarter worth $27,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of First Financial Bankshares in the first quarter worth $36,000. Smartleaf Asset Management LLC increased its stake in shares of First Financial Bankshares by 47.5% in the first quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank’s stock worth $45,000 after acquiring an additional 404 shares during the last quarter. State of Wyoming acquired a new position in shares of First Financial Bankshares in the second quarter worth $54,000. Finally, Quarry LP increased its stake in shares of First Financial Bankshares by 336.9% in the first quarter. Quarry LP now owns 1,573 shares of the bank’s stock worth $57,000 after acquiring an additional 1,213 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

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.