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

First Financial Bankshares (NASDAQ:FFIN) had its price target upped by Stephens from $37.00 to $40.00 in a report issued on Friday, Benzinga reports. Stephens currently has an equal weight rating on the bank’s stock.

Separately, Truist Financial lifted their target price on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th.

First Financial Bankshares Trading Down 1.2 %

FFIN opened at $38.40 on Friday. The company’s 50 day moving average is $36.44 and its 200-day moving average is $33.01. First Financial Bankshares has a 1-year low of $22.84 and a 1-year high of $39.53. The company has a market cap of $5.49 billion, a P/E ratio of 27.43 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $184.94 million for the quarter, compared to the consensus estimate of $134.10 million. On average, equities analysts forecast that First Financial Bankshares will post 1.52 EPS for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 12th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.72 annualized dividend and a yield of 1.88%. First Financial Bankshares’s dividend payout ratio is presently 51.43%.

Institutional Investors Weigh In On First Financial Bankshares

Several hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in shares of First Financial Bankshares by 6.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,375,446 shares of the bank’s stock worth $41,676,000 after purchasing an additional 79,106 shares during the period. Vanguard Group Inc. lifted its position in shares of First Financial Bankshares by 0.8% in the 4th 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 during the period. Los Angeles Capital Management LLC acquired a new position in shares of First Financial Bankshares in the 1st quarter worth approximately $532,000. Ballentine Partners LLC lifted its position in shares of First Financial Bankshares by 4.5% in the 1st quarter. Ballentine Partners LLC now owns 12,130 shares of the bank’s stock worth $398,000 after purchasing an additional 521 shares during the period. Finally, Bridge City Capital LLC lifted its position in shares of First Financial Bankshares by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 87,506 shares of the bank’s stock worth $2,871,000 after purchasing an additional 680 shares during the period. 69.78% of the stock is currently owned by institutional investors and hedge funds.

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.