Truist Financial Trims First Financial Bankshares (NASDAQ:FFIN) Target Price to $31.00

First Financial Bankshares (NASDAQ:FFINGet Free Report) had its price target lowered by analysts at Truist Financial from $32.00 to $31.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the bank’s stock. Truist Financial’s price objective suggests a potential upside of 6.86% from the stock’s current price.

Separately, Stephens decreased their target price on shares of 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.

Check Out Our Latest Analysis on FFIN

First Financial Bankshares Stock Performance

Shares of First Financial Bankshares stock opened at $29.01 on Monday. The business’s 50 day moving average price is $29.59 and its 200 day moving average price is $30.27. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 20.72 and a beta of 0.80. First Financial Bankshares has a one year low of $22.84 and a one year high of $33.15.

First Financial Bankshares (NASDAQ:FFINGet Free Report) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $129.63 million during 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 last year, the company earned $0.39 EPS. On average, analysts predict that First Financial Bankshares will post 1.49 EPS for the current fiscal year.

Insider Activity at First Financial Bankshares

In related news, Director Johnny Trotter bought 1,000 shares of the stock in a transaction on Friday, June 14th. The stock was bought at an average price of $27.79 per share, with a total value of $27,790.00. Following the completion of the purchase, the director now directly owns 943,371 shares in the company, valued at approximately $26,216,280.09. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Johnny Trotter bought 1,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were bought at an average price of $27.79 per share, with a total value of $27,790.00. Following the completion of the transaction, the director now directly owns 943,371 shares in the company, valued at $26,216,280.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sally Pope Davis purchased 1,800 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were purchased at an average price of $28.75 per share, for a total transaction of $51,750.00. Following the completion of the purchase, the director now directly owns 1,800 shares of the company’s stock, valued at $51,750. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 6,743 shares of company stock worth $199,526. Company insiders own 4.22% of the company’s stock.

Hedge Funds Weigh In On First Financial Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of FFIN. Olistico Wealth LLC acquired a new stake in shares of First Financial Bankshares during the second quarter worth about $29,000. Price T Rowe Associates Inc. MD increased its stake in First Financial Bankshares by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,096 shares of the bank’s stock worth $2,760,000 after buying an additional 4,736 shares during the period. Lazard Asset Management LLC acquired a new stake in First Financial Bankshares during the 1st quarter worth approximately $408,000. Vident Advisory LLC boosted its position in First Financial Bankshares by 2.8% in the 1st quarter. Vident Advisory LLC now owns 99,084 shares of the bank’s stock valued at $3,251,000 after buying an additional 2,693 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of First Financial Bankshares by 2.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 104,002 shares of the bank’s stock worth $3,414,000 after acquiring an additional 2,424 shares in the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

About First Financial Bankshares

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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.

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