First Financial Bankshares (NASDAQ:FFIN) Price Target Increased to $40.00 by Analysts at Truist Financial

First Financial Bankshares (NASDAQ:FFIN) had its price objective increased by research analysts at Truist Financial from $39.00 to $40.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the bank’s stock. Truist Financial’s price target would indicate a potential upside of 5.04% from the company’s previous close.

Separately, Stephens lifted their price target on First Financial Bankshares from $31.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th.

First Financial Bankshares Price Performance

Shares of NASDAQ FFIN traded down $0.76 during trading on Friday, hitting $38.08. The stock had a trading volume of 338,814 shares, compared to its average volume of 553,733. The firm has a fifty day moving average of $35.93 and a two-hundred day moving average of $32.19. First Financial Bankshares has a 12 month low of $22.84 and a 12 month high of $39.53. The company has a market capitalization of $5.44 billion, a PE ratio of 27.20 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. The firm had revenue of $184.94 million during the quarter, compared to analyst estimates of $134.10 million. On average, equities analysts expect that First Financial Bankshares will post 1.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Financial Bankshares

Several hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in First Financial Bankshares by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,365,643 shares of the bank’s stock worth $71,685,000 after purchasing an additional 49,701 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in First Financial Bankshares by 32.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 12,298 shares of the bank’s stock valued at $373,000 after purchasing an additional 3,024 shares during the period. Norges Bank purchased a new position in shares of First Financial Bankshares during the 4th quarter valued at $42,435,000. UBS Group AG increased its holdings in shares of First Financial Bankshares by 98.5% in the fourth quarter. UBS Group AG now owns 239,068 shares of the bank’s stock worth $7,244,000 after purchasing an additional 118,623 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of First Financial Bankshares in the fourth quarter worth $539,000. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

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.