Truist Financial Lowers First Financial Bankshares (NASDAQ:FFIN) Price Target to $32.00

First Financial Bankshares (NASDAQ:FFIN) had its price target reduced by Truist Financial from $34.00 to $32.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a hold rating on the bank’s stock.

A number of other equities analysts also recently commented on the company. Keefe, Bruyette & Woods lifted their target price on First Financial Bankshares from $30.00 to $31.00 and gave the company a market perform rating in a research note on Friday, January 26th. Stephens cut their price target on First Financial Bankshares from $35.00 to $31.00 and set an equal weight rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $31.33.

First Financial Bankshares Stock Up 1.4 %

Shares of FFIN stock opened at $30.42 on Monday. The business has a 50 day moving average of $31.08 and a two-hundred day moving average of $28.96. First Financial Bankshares has a 52 week low of $22.84 and a 52 week high of $33.15. The company has a market cap of $4.34 billion, a P/E ratio of 21.73 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Thursday, April 18th. The bank reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. First Financial Bankshares had a return on equity of 14.28% and a net margin of 30.03%. The company had revenue of $129.63 million during the quarter, compared to the consensus estimate of $129.72 million. During the same period in the previous year, the firm posted $0.39 earnings per share. First Financial Bankshares’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts expect that First Financial Bankshares will post 1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On First Financial Bankshares

A number of hedge funds have recently made changes to their positions in the business. Strategic Financial Concepts LLC bought a new stake in First Financial Bankshares during the first quarter worth approximately $2,631,000. Norden Group LLC bought a new stake in First Financial Bankshares during the first quarter worth approximately $371,000. State of Michigan Retirement System raised its holdings in First Financial Bankshares by 2.3% during the first quarter. State of Michigan Retirement System now owns 31,563 shares of the bank’s stock worth $1,036,000 after purchasing an additional 700 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in First Financial Bankshares by 81.1% during the first quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock worth $30,000 after purchasing an additional 415 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in First Financial Bankshares by 60.8% during the first quarter. Diversified Trust Co now owns 28,432 shares of the bank’s stock worth $933,000 after purchasing an additional 10,750 shares in the last quarter. Institutional investors own 69.78% of the company’s stock.

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.