First Financial Bankshares (NASDAQ:FFIN) Price Target Raised to $39.00 at Truist Financial

First Financial Bankshares (NASDAQ:FFIN) had its price target increased by Truist Financial from $31.00 to $39.00 in a report released on Wednesday morning, Benzinga reports. They currently have a hold rating on the bank’s stock.

Separately, Stephens raised their price objective on shares of First Financial Bankshares from $31.00 to $36.00 and gave the stock an equal weight rating in a research note on Friday, July 19th.

First Financial Bankshares Stock Performance

NASDAQ FFIN opened at $39.46 on Wednesday. First Financial Bankshares has a 1 year low of $22.84 and a 1 year high of $39.52. The stock has a market capitalization of $5.64 billion, a P/E ratio of 28.19 and a beta of 0.80. The business’s fifty day moving average is $30.57 and its two-hundred day moving average is $30.69.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $184.94 million during the quarter, compared to analyst estimates of $134.10 million. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. On average, research analysts forecast that First Financial Bankshares will post 1.51 earnings per share for the current year.

Insider Activity

In related news, Director Johnny Trotter acquired 1,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $27.79 per share, with a total value of $27,790.00. Following the completion of the transaction, the director now owns 943,371 shares of the company’s stock, valued at approximately $26,216,280.09. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Johnny Trotter acquired 1,000 shares of First Financial Bankshares stock in a transaction that occurred on Friday, June 14th. The stock was purchased 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 owns 943,371 shares in the company, valued at $26,216,280.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sally Pope Davis purchased 1,800 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were purchased at an average cost of $28.75 per share, with a total value of $51,750.00. Following the completion of the purchase, the director now directly owns 1,800 shares in the company, valued at $51,750. The disclosure for this purchase can be found here. Insiders have acquired 5,243 shares of company stock worth $154,196 in the last 90 days. Company insiders own 4.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of First Financial Bankshares by 1.1% in the second 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 period. Atria Wealth Solutions Inc. raised its holdings in First Financial Bankshares by 52.4% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 42,154 shares of the bank’s stock worth $1,252,000 after acquiring an additional 14,500 shares during the period. Neo Ivy Capital Management bought a new position in First Financial Bankshares in the 2nd quarter worth $41,000. Garrett Wealth Advisory Group LLC lifted its position in First Financial Bankshares by 138.5% during the 2nd quarter. Garrett Wealth Advisory Group LLC now owns 31,882 shares of the bank’s stock worth $941,000 after acquiring an additional 18,513 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in First Financial Bankshares by 17.4% during the second quarter. Raymond James & Associates now owns 78,896 shares of the bank’s stock valued at $2,330,000 after acquiring an additional 11,701 shares during the period. 69.78% of the stock is owned by 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.