First Financial Bankshares (NASDAQ:FFIN) Price Target Raised to $40.00

First Financial Bankshares (NASDAQ:FFIN) had its price objective lifted by Truist Financial from $39.00 to $40.00 in a research report report published on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

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

First Financial Bankshares Price Performance

Shares of FFIN stock opened at $38.10 on Friday. The company has a market cap of $5.44 billion, a P/E ratio of 27.21 and a beta of 0.78. The stock’s 50-day moving average is $36.08 and its 200 day moving average is $32.24. First Financial Bankshares has a 1-year low of $22.84 and a 1-year high of $39.53.

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

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Thursday, September 12th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, September 12th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 51.43%.

Institutional Trading of First Financial Bankshares

Several large investors have recently bought and sold shares of the stock. Olistico Wealth LLC purchased a new stake in shares of First Financial Bankshares during the second quarter valued at $29,000. Hexagon Capital Partners LLC increased its holdings in shares of First Financial Bankshares by 81.1% in the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock valued at $30,000 after purchasing an additional 415 shares during the period. Neo Ivy Capital Management purchased a new position in shares of First Financial Bankshares in the second quarter worth about $41,000. Quarry LP purchased a new position in shares of First Financial Bankshares in the second quarter worth about $83,000. Finally, SYSTM Wealth Solutions LLC lifted its holdings in shares of First Financial Bankshares by 17.4% during the first quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock worth $88,000 after purchasing an additional 398 shares during the period. Hedge funds and other 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.