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

First Financial Bankshares (NASDAQ:FFIN) had its target price cut by Truist Financial from $32.00 to $31.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a hold rating on the bank’s stock.

Separately, Stephens decreased their price target on shares of First Financial Bankshares from $35.00 to $31.00 and set an equal weight rating on the stock in a research note on Friday, April 19th.

First Financial Bankshares Stock Performance

FFIN stock opened at $29.62 on Monday. First Financial Bankshares has a one year low of $22.84 and a one year high of $33.15. The company’s fifty day moving average price is $29.58 and its 200-day moving average price is $30.26. The company has a market capitalization of $4.23 billion, a PE ratio of 21.16 and a beta of 0.80.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.28%. The firm had revenue of $129.63 million for the quarter, compared to the consensus estimate of $129.72 million. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts predict that First Financial Bankshares will post 1.49 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Friday, June 14th. First Financial Bankshares’s payout ratio is 51.43%.

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Sally Pope Davis purchased 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were bought at an average price 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Johnny Trotter bought 1,000 shares of First Financial Bankshares stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $27.79 per share, with a total value of $27,790.00. Following the completion of the purchase, the director now owns 943,371 shares in the company, valued at approximately $26,216,280.09. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sally Pope Davis bought 1,800 shares of First Financial Bankshares stock in a transaction dated Thursday, June 6th. The stock was purchased at an average cost of $28.75 per share, for a total transaction of $51,750.00. Following the purchase, the director now owns 1,800 shares of the company’s stock, valued at approximately $51,750. The disclosure for this purchase can be found here. Insiders have acquired a total of 6,743 shares of company stock valued at $199,526 over the last 90 days. 4.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Financial Bankshares

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in shares of First Financial Bankshares by 134.8% in the fourth quarter. Lindbrook Capital LLC now owns 911 shares of the bank’s stock worth $28,000 after purchasing an additional 523 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of First Financial Bankshares in the second quarter worth about $29,000. Hexagon Capital Partners LLC grew its holdings in shares of First Financial Bankshares by 81.1% in 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 during the last quarter. SYSTM Wealth Solutions LLC grew its holdings in shares of First Financial Bankshares by 17.4% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock worth $88,000 after purchasing an additional 398 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in First Financial Bankshares by 128.9% during the 4th quarter. Quadrant Capital Group LLC now owns 4,888 shares of the bank’s stock worth $148,000 after acquiring an additional 2,753 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.