First Financial Bankshares (NASDAQ:FFIN) Price Target Raised to $40.00 at Truist Financial

First Financial Bankshares (NASDAQ:FFIN) had its price target lifted by Truist Financial from $39.00 to $40.00 in a report published on Friday, Benzinga reports. Truist Financial currently has a hold rating on the bank’s stock.

Separately, Stephens lifted their price objective on shares of 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 Down 1.9 %

Shares of FFIN opened at $38.10 on Friday. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 27.21 and a beta of 0.78. First Financial Bankshares has a 52 week low of $22.84 and a 52 week high of $39.53. The stock’s 50-day moving average price is $36.08 and its 200-day moving average price is $32.24.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $184.94 million for the quarter, compared to analyst estimates of $134.10 million. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Thursday, September 12th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 51.43%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC raised its position in First Financial Bankshares by 5.0% during the second quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock worth $166,000 after acquiring an additional 270 shares during the period. Crewe Advisors LLC increased its stake in shares of First Financial Bankshares by 6.0% during the second quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock worth $155,000 after purchasing an additional 296 shares in the last quarter. SYSTM Wealth Solutions LLC lifted its stake in First Financial Bankshares by 17.4% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock valued at $88,000 after buying an additional 398 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in First Financial Bankshares by 81.1% in 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. Finally, Retirement Systems of Alabama increased its stake in First Financial Bankshares by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 161,287 shares of the bank’s stock worth $5,292,000 after buying an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

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.