First Financial Bankshares (NASDAQ:FFIN) Price Target Lowered to $31.00 at Stephens

First Financial Bankshares (NASDAQ:FFIN) had its price objective decreased by Stephens from $35.00 to $31.00 in a report issued on Friday morning, Benzinga reports. Stephens currently has an equal weight rating on the bank’s stock.

Several other equities analysts have also commented on FFIN. Keefe, Bruyette & Woods increased their price objective on shares of First Financial Bankshares from $30.00 to $31.00 and gave the company a market perform rating in a research report on Friday, January 26th. Truist Financial decreased their price objective on shares of First Financial Bankshares from $35.00 to $34.00 and set a hold rating for the company in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $30.50.

First Financial Bankshares Stock Performance

NASDAQ:FFIN opened at $30.01 on Friday. First Financial Bankshares has a fifty-two week low of $22.84 and a fifty-two week high of $33.15. The stock has a market capitalization of $4.28 billion, a P/E ratio of 21.44 and a beta of 0.82. The company’s 50-day simple moving average is $31.11 and its 200-day simple moving average is $28.85.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, April 18th. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $129.63 million for the quarter, compared to analysts’ expectations of $129.72 million. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.60%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. On average, research analysts forecast that First Financial Bankshares will post 1.45 EPS for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Thursday, March 14th. First Financial Bankshares’s dividend payout ratio is presently 51.43%.

Hedge Funds Weigh In On First Financial Bankshares

A number of institutional investors have recently bought and sold shares of the business. Norden Group LLC purchased a new position in First Financial Bankshares during the 1st quarter worth approximately $371,000. State of Michigan Retirement System raised its position in First Financial Bankshares by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 31,563 shares of the bank’s stock worth $1,036,000 after buying an additional 700 shares during the last quarter. Hexagon Capital Partners LLC raised its position in First Financial Bankshares by 81.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock worth $30,000 after buying an additional 415 shares during the last quarter. Diversified Trust Co raised its position in First Financial Bankshares by 60.8% during the 1st quarter. Diversified Trust Co now owns 28,432 shares of the bank’s stock worth $933,000 after buying an additional 10,750 shares during the last quarter. Finally, Bridge City Capital LLC raised its position in First Financial Bankshares by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 87,506 shares of the bank’s stock worth $2,871,000 after buying an additional 680 shares during the last quarter. 69.78% of the stock is 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.