Keefe, Bruyette & Woods Lowers First Financial Bankshares (NASDAQ:FFIN) Price Target to $34.00

First Financial Bankshares (NASDAQ:FFIN) had its price objective lowered by equities researchers at Keefe, Bruyette & Woods from $36.00 to $34.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 7.35% from the stock’s previous close.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $37.33.

First Financial Bankshares Stock Up 1.5%

Shares of FFIN traded up $0.46 during trading hours on Thursday, hitting $31.67. The company had a trading volume of 233,569 shares, compared to its average volume of 822,986. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of 17.93 and a beta of 0.82. The business has a fifty day moving average of $31.26 and a 200-day moving average of $31.60. First Financial Bankshares has a 12 month low of $28.11 and a 12 month high of $38.74.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Friday, January 23rd. The bank reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. First Financial Bankshares had a return on equity of 14.16% and a net margin of 30.43%.The company had revenue of $164.72 million during the quarter, compared to the consensus estimate of $165.70 million. During the same quarter last year, the firm earned $0.43 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. On average, equities analysts expect that First Financial Bankshares will post 1.78 EPS for the current fiscal year.

Insider Transactions at First Financial Bankshares

In other news, CFO Michelle S. Hickox acquired 1,000 shares of First Financial Bankshares stock in a transaction on Monday, March 9th. The stock was purchased at an average price of $29.50 per share, with a total value of $29,500.00. Following the completion of the purchase, the chief financial officer owned 11,861 shares of the company’s stock, valued at approximately $349,899.50. The trade was a 9.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Geoff Haney acquired 10,200 shares of the company’s stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $33.18 per share, for a total transaction of $338,436.00. Following the completion of the purchase, the director directly owned 32,146 shares of the company’s stock, valued at approximately $1,066,604.28. This represents a 46.48% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 21,629 shares of company stock valued at $681,060. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On First Financial Bankshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in FFIN. HHM Wealth Advisors LLC purchased a new stake in First Financial Bankshares in the 3rd quarter valued at about $25,000. Corsicana & Co. bought a new stake in First Financial Bankshares in the third quarter worth about $27,000. Olistico Wealth LLC bought a new stake in First Financial Bankshares in the fourth quarter worth about $30,000. Quarry LP raised its position in First Financial Bankshares by 66.3% in the third quarter. Quarry LP now owns 1,026 shares of the bank’s stock worth $35,000 after acquiring an additional 409 shares during the period. Finally, Danske Bank A S raised its position in First Financial Bankshares by 200.0% in the fourth quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock worth $36,000 after acquiring an additional 800 shares during the period. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.