First Financial Bankshares, Inc. (NASDAQ:FFIN) Stock Has Average Target Price of $35.20 According to Analysts

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) have been given an average rating of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $35.20.

FFIN has been the topic of several research reports. Weiss Ratings lowered shares of First Financial Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 25th. Raymond James Financial started coverage on shares of First Financial Bankshares in a report on Wednesday, October 14th. They issued a “market perform” rating for the company. Cantor Fitzgerald reduced their price objective on shares of First Financial Bankshares from $35.00 to $34.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Seaport Research Partners upgraded First Financial Bankshares to a “buy” rating in a research note on Wednesday, October 14th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $34.00 target price (down from $35.00) on shares of First Financial Bankshares in a research note on Friday, October 16th.

Insider Transactions at First Financial Bankshares

In other news, Director Michael Denny purchased 3,245 shares of the stock in a transaction dated Thursday, October 29th. The shares were purchased at an average cost of $30.76 per share, with a total value of $99,816.20. Following the completion of the acquisition, the director owned 9,745 shares in the company, valued at $299,756.20. This represents a 49.92% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Ronald David Butler II sold 15,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.95, for a total transaction of $524,250.00. Following the completion of the sale, the chief accounting officer owned 152,223 shares in the company, valued at $5,320,193.85. This represents a 8.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders bought 7,065 shares of company stock worth $228,495. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Mather Group LLC. purchased a new position in First Financial Bankshares in the 3rd quarter worth approximately $25,000. Root Financial Partners LLC purchased a new stake in shares of First Financial Bankshares during the third quarter valued at approximately $34,000. IFP Advisors Inc boosted its stake in shares of First Financial Bankshares by 1,708.2% during the second quarter. IFP Advisors Inc now owns 1,754 shares of the bank’s stock valued at $61,000 after purchasing an additional 1,657 shares during the period. Parallel Advisors LLC grew its holdings in shares of First Financial Bankshares by 83.5% in the first quarter. Parallel Advisors LLC now owns 1,885 shares of the bank’s stock worth $56,000 after purchasing an additional 858 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of First Financial Bankshares by 33.2% in the third quarter. Nisa Investment Advisors LLC now owns 2,232 shares of the bank’s stock worth $71,000 after purchasing an additional 556 shares during the last quarter. Institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Stock Performance

Shares of First Financial Bankshares stock opened at $30.59 on Tuesday. First Financial Bankshares has a 52-week low of $28.11 and a 52-week high of $36.52. The stock’s 50-day simple moving average is $32.02 and its 200 day simple moving average is $32.50. The stock has a market capitalization of $4.38 billion, a P/E ratio of 15.07 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, October 15th. The bank reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $174.14 million for the quarter, compared to the consensus estimate of $178.63 million. First Financial Bankshares had a net margin of 33.16% and a return on equity of 14.91%. During the same period in the prior year, the firm earned $0.36 earnings per share. Equities research analysts forecast that First Financial Bankshares will post 2.05 EPS for the current fiscal year.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene, Texas. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations. The bank traces its roots to 1890 and has grown through expansion and acquisitions into a regional banking organization serving communities across Texas.

First Financial Bank offers a range of deposit products, including checking, savings, money market and certificate of deposit accounts.