Stephens Increases First Financial Bankshares (NASDAQ:FFIN) Price Target to $40.00

First Financial Bankshares (NASDAQ:FFIN - Free Report) had its price objective lifted by Stephens from $37.00 to $40.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the bank's stock.

Separately, Truist Financial increased their price target on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a "hold" rating in a report on Friday, September 20th.

First Financial Bankshares Trading Down 1.2 %

Shares of NASDAQ:FFIN traded down $0.45 during midday trading on Friday, reaching $38.40. The company had a trading volume of 416,834 shares, compared to its average volume of 543,401. The stock has a market cap of $5.49 billion, a P/E ratio of 27.43 and a beta of 0.78. The company's 50 day moving average price is $36.44 and its 200 day moving average price is $32.99. First Financial Bankshares has a 52-week low of $22.84 and a 52-week high of $39.53.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. The firm had revenue of $184.94 million during the quarter, compared to the consensus estimate of $134.10 million. Research analysts forecast that First Financial Bankshares will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 12th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, September 12th. First Financial Bankshares's dividend payout ratio is 51.43%.

Hedge Funds Weigh In On First Financial Bankshares

Institutional investors have recently added to or reduced their stakes in the business. Olistico Wealth LLC purchased a new position in shares of First Financial Bankshares during the second quarter worth about $29,000. Hexagon Capital Partners LLC grew its stake in 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 buying an additional 415 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of First Financial Bankshares in the 2nd quarter worth $41,000. Quarry LP purchased a new stake in shares of First Financial Bankshares during the 2nd quarter valued at $83,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of First Financial Bankshares during the 2nd quarter valued at $97,000. 69.78% of the stock is currently owned by institutional investors.

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.