First Financial Bankshares (NASDAQ:FFIN) Price Target Increased to $40.00 by Analysts at Truist Financial

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

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

First Financial Bankshares Stock Up 0.1 %

Shares of NASDAQ FFIN opened at $38.12 on Friday. The firm’s 50-day moving average price is $36.19 and its 200-day moving average price is $32.28. First Financial Bankshares has a 52-week low of $22.84 and a 52-week high of $39.53. The company has a market cap of $5.45 billion, a PE ratio of 27.23 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, July 18th. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $184.94 million during 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%. As a group, equities research analysts anticipate that First Financial Bankshares will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Thursday, September 12th. 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 stock. First Financial Bankshares Inc purchased a new stake in First Financial Bankshares in the fourth quarter worth about $553,577,000. Vanguard Group Inc. grew its stake in shares of First Financial Bankshares by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock valued at $490,717,000 after acquiring an additional 490,770 shares during the period. SG Americas Securities LLC increased its holdings in First Financial Bankshares by 480.0% in the 2nd quarter. SG Americas Securities LLC now owns 39,602 shares of the bank’s stock worth $1,169,000 after acquiring an additional 32,774 shares in the last quarter. Rafferty Asset Management LLC raised its stake in First Financial Bankshares by 105.3% during the 4th quarter. Rafferty Asset Management LLC now owns 146,235 shares of the bank’s stock worth $4,431,000 after acquiring an additional 74,996 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in First Financial Bankshares during the 1st quarter worth approximately $1,100,000. 69.78% of the stock is 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.