First Financial Bankshares (NASDAQ:FFIN) Price Target Raised to $40.00 at Keefe, Bruyette & Woods

First Financial Bankshares (NASDAQ:FFIN) had its price objective raised by investment analysts at Keefe, Bruyette & Woods from $36.00 to $40.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential downside of 1.94% from the company’s previous close.

Several other equities research analysts have also recently weighed in on FFIN. Truist Financial upped their price target on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Stephens boosted their target price on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Hovde Group lifted their target price 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.

First Financial Bankshares Stock Performance

NASDAQ:FFIN traded down $0.06 during midday trading on Wednesday, reaching $40.79. 42,389 shares of the stock traded hands, compared to its average volume of 535,547. The stock has a market capitalization of $5.83 billion, a P/E ratio of 28.13 and a beta of 0.81. The company has a fifty day moving average of $38.76 and a 200 day moving average of $35.10. First Financial Bankshares has a 12 month low of $26.54 and a 12 month high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. The business had revenue of $142.10 million for the quarter, compared to analysts’ expectations of $140.25 million. On average, analysts predict that First Financial Bankshares will post 1.52 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Strategic Financial Concepts LLC grew its stake in First Financial Bankshares by 3,632.9% during the second quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock valued at $884,000 after acquiring an additional 2,912,718 shares in the last quarter. State Street Corp grew its position in First Financial Bankshares by 4.7% in the 3rd quarter. State Street Corp now owns 6,222,092 shares of the bank’s stock valued at $231,381,000 after acquiring an additional 281,166 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of First Financial Bankshares by 8.0% during the third quarter. Geode Capital Management LLC now owns 3,361,921 shares of the bank’s stock worth $124,446,000 after purchasing an additional 249,011 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of First Financial Bankshares by 6.8% during the third quarter. Champlain Investment Partners LLC now owns 3,516,329 shares of the bank’s stock valued at $130,139,000 after purchasing an additional 223,640 shares during the period. Finally, Emerald Advisers LLC bought a new position in shares of First Financial Bankshares in the third quarter worth about $8,235,000. Hedge funds and other 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.