Stephens Cuts First Financial Bankshares (NASDAQ:FFIN) Price Target to $31.00

First Financial Bankshares (NASDAQ:FFIN) had its price objective decreased by Stephens from $35.00 to $31.00 in a research report sent to investors on Friday morning, Benzinga reports. Stephens currently has an equal weight rating on the bank’s stock.

Several other equities research analysts also recently issued reports on FFIN. Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $30.00 to $31.00 and gave the stock a market perform rating in a report on Friday, January 26th. Truist Financial dropped their price objective on First Financial Bankshares from $35.00 to $34.00 and set a hold rating on the stock in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, First Financial Bankshares presently has a consensus rating of Hold and a consensus price target of $30.50.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $30.01 on Friday. The company has a market cap of $4.28 billion, a P/E ratio of 21.44 and a beta of 0.82. First Financial Bankshares has a one year low of $22.84 and a one year high of $33.15. The business’s 50-day simple moving average is $31.11 and its 200 day simple moving average is $28.85.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, April 18th. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The business had revenue of $129.63 million for the quarter, compared to the consensus estimate of $129.72 million. First Financial Bankshares had a return on equity of 14.60% and a net margin of 30.03%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. Analysts predict that First Financial Bankshares will post 1.45 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.40%. First Financial Bankshares’s dividend payout ratio is presently 51.43%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in FFIN. First Command Advisory Services Inc. acquired a new position in shares of First Financial Bankshares in the 3rd quarter worth approximately $26,000. Lindbrook Capital LLC grew its position in shares of First Financial Bankshares by 134.8% in the 4th quarter. Lindbrook Capital LLC now owns 911 shares of the bank’s stock worth $28,000 after acquiring an additional 523 shares in the last quarter. Hexagon Capital Partners LLC grew its position in shares of 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 acquiring an additional 415 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of First Financial Bankshares in the 3rd quarter worth approximately $40,000. Finally, Clear Street Markets LLC acquired a new position in shares of First Financial Bankshares in the 4th quarter worth approximately $53,000. Institutional investors and hedge funds 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.