Truist Financial Trims First Financial Bankshares (NASDAQ:FFIN) Target Price to $32.00

First Financial Bankshares (NASDAQ:FFIN) had its price objective decreased by Truist Financial from $34.00 to $32.00 in a report released on Monday, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

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

First Financial Bankshares Stock Performance

Shares of FFIN stock opened at $30.48 on Monday. The stock’s 50 day simple moving average is $31.08 and its 200 day simple moving average is $29.01. First Financial Bankshares has a twelve month low of $22.84 and a twelve month high of $33.15. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 21.77 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $129.63 million for the quarter, compared to the consensus estimate of $129.72 million. First Financial Bankshares had a return on equity of 14.28% and a net margin of 30.03%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. On average, analysts forecast that First Financial Bankshares will post 1.47 EPS for the current fiscal year.

Institutional Trading of First Financial Bankshares

Several institutional investors have recently bought and sold shares of FFIN. First Financial Bankshares Inc acquired a new stake in First Financial Bankshares in the 4th quarter valued at $553,577,000. Norges Bank acquired a new stake in First Financial Bankshares in the 4th quarter valued at $42,435,000. Great Lakes Advisors LLC acquired a new stake in First Financial Bankshares in the 3rd quarter valued at $3,484,000. Natixis Advisors L.P. boosted its stake in First Financial Bankshares by 39.7% in the fourth quarter. Natixis Advisors L.P. now owns 447,970 shares of the bank’s stock worth $13,573,000 after purchasing an additional 127,397 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in First Financial Bankshares by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 14,465,552 shares of the bank’s stock worth $438,306,000 after purchasing an additional 120,252 shares in the last quarter. Institutional investors and hedge funds 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.