Keefe, Bruyette & Woods Has Lowered Expectations for First Financial Bankshares (NASDAQ:FFIN) Stock Price

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) had its price target decreased by analysts at Keefe, Bruyette & Woods from $38.00 to $36.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 6.57% from the company's current price.

Separately, Hovde Group cut their price objective on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating for the company in a research note on Monday.

First Financial Bankshares Price Performance

FFIN stock traded up $0.19 during trading on Monday, reaching $33.78. The company had a trading volume of 609,067 shares, compared to its average volume of 544,168. The business has a 50 day moving average of $35.04 and a 200 day moving average of $37.18. The company has a market cap of $4.83 billion, a P/E ratio of 21.65 and a beta of 0.82. First Financial Bankshares has a 52 week low of $27.62 and a 52 week high of $44.66.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The bank reported $0.43 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.43. The business had revenue of $149.02 million during the quarter, compared to analysts' expectations of $149.48 million. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. Research analysts expect that First Financial Bankshares will post 1.78 earnings per share for the current year.

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Johnny Trotter acquired 6,000 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $35.12 per share, for a total transaction of $210,720.00. Following the completion of the transaction, the director now directly owns 949,371 shares of the company's stock, valued at $33,341,909.52. This trade represents a 0.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders bought 7,041 shares of company stock valued at $247,992. Insiders own 4.22% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FFIN. Federated Hermes Inc. raised its holdings in shares of First Financial Bankshares by 2.3% in the 4th quarter. Federated Hermes Inc. now owns 13,313 shares of the bank's stock valued at $480,000 after purchasing an additional 295 shares in the last quarter. Arizona State Retirement System grew its stake in First Financial Bankshares by 0.9% in the fourth quarter. Arizona State Retirement System now owns 35,263 shares of the bank's stock valued at $1,271,000 after purchasing an additional 302 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of First Financial Bankshares by 1.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 26,649 shares of the bank's stock valued at $961,000 after buying an additional 312 shares during the last quarter. Numerai GP LLC lifted its position in First Financial Bankshares by 1.8% during the fourth quarter. Numerai GP LLC now owns 18,033 shares of the bank's stock valued at $650,000 after acquiring an additional 312 shares during the last quarter. Finally, 49 Wealth Management LLC increased its position in shares of First Financial Bankshares by 4.7% during the fourth quarter. 49 Wealth Management LLC now owns 7,825 shares of the bank's stock worth $282,000 after purchasing an additional 350 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.