First Financial Bankshares (NASDAQ:FFIN) Given New $40.00 Price Target at Stephens

First Financial Bankshares (NASDAQ:FFIN) had its price objective raised by research analysts at Stephens from $37.00 to $40.00 in a report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Stephens’ price target would indicate a potential upside of 4.17% from the company’s current price.

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

First Financial Bankshares Price Performance

NASDAQ:FFIN opened at $38.40 on Friday. First Financial Bankshares has a one year low of $22.84 and a one year high of $39.53. The company has a fifty day moving average price of $36.44 and a 200 day moving average price of $33.00. The stock 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 released its earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $184.94 million during the quarter, compared to analysts’ expectations of $134.10 million. As a group, equities research analysts anticipate that First Financial Bankshares will post 1.52 EPS for the current year.

Institutional Investors Weigh In On First Financial Bankshares

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in First Financial Bankshares by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock valued at $490,717,000 after buying an additional 490,770 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of First Financial Bankshares by 480.0% in the 2nd quarter. SG Americas Securities LLC now owns 39,602 shares of the bank’s stock valued at $1,169,000 after purchasing an additional 32,774 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of First Financial Bankshares in the 1st quarter worth about $1,100,000. Bridges Investment Management Inc. acquired a new stake in shares of First Financial Bankshares during the 2nd quarter worth about $637,000. Finally, Bank of New York Mellon Corp lifted its holdings in First Financial Bankshares by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,375,856 shares of the bank’s stock valued at $40,629,000 after purchasing an additional 15,473 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors.

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.