First Financial Bankshares (NASDAQ:FFIN) Upgraded at Hovde Group

Hovde Group upgraded shares of First Financial Bankshares (NASDAQ:FFIN) from a market perform rating to an outperform rating in a research report sent to investors on Monday, MarketBeat.com reports. They currently have $39.00 price target on the bank’s stock.

Several other research firms have also recently weighed in on FFIN. Keefe, Bruyette & Woods dropped their price target on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a report on Friday, October 24th. Cantor Fitzgerald started coverage on First Financial Bankshares in a report on Wednesday, September 10th. They set a “neutral” rating and a $39.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of First Financial Bankshares in a report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.00.

First Financial Bankshares Trading Down 2.2%

Shares of NASDAQ FFIN opened at $30.64 on Monday. First Financial Bankshares has a 12 month low of $30.50 and a 12 month high of $44.66. The stock has a 50 day moving average of $34.45 and a 200-day moving average of $35.04. The company has a market capitalization of $4.38 billion, a P/E ratio of 18.13 and a beta of 0.86.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, October 23rd. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.11). The business had revenue of $162.06 million for the quarter, compared to the consensus estimate of $161.21 million. First Financial Bankshares had a return on equity of 14.16% and a net margin of 29.81%.The business’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Analysts predict that First Financial Bankshares will post 1.78 EPS for the current fiscal year.

Insider Activity

In other First Financial Bankshares news, CFO Michelle S. Hickox purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were bought at an average price of $31.15 per share, for a total transaction of $62,300.00. Following the purchase, the chief financial officer owned 24,461 shares in the company, valued at approximately $761,960.15. This trade represents a 8.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.22% of the company’s stock.

Hedge Funds Weigh In On First Financial Bankshares

Hedge funds and other institutional investors have recently modified their holdings of the business. HHM Wealth Advisors LLC bought a new position in shares of First Financial Bankshares in the 3rd quarter valued at $25,000. Corsicana & Co. bought a new position in shares of First Financial Bankshares in the 3rd quarter valued at $27,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of First Financial Bankshares in the 1st quarter valued at $36,000. Smartleaf Asset Management LLC increased its stake in shares of First Financial Bankshares by 47.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank’s stock valued at $45,000 after purchasing an additional 404 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of First Financial Bankshares in the 2nd quarter valued at $54,000. 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.