First Financial Bankshares (NASDAQ:FFIN) Price Target Lowered to $34.00 at Truist Financial

First Financial Bankshares (NASDAQ:FFINFree Report) had its target price cut by Truist Financial from $35.00 to $34.00 in a research note released on Monday morning, Benzinga reports. They currently have a hold rating on the bank’s stock.

Several other equities research analysts have also recently issued reports on the company. Stephens boosted their price target on First Financial Bankshares from $30.00 to $32.00 and gave the company an equal weight rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods boosted their price target on First Financial Bankshares from $30.00 to $31.00 and gave the company a market perform rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $30.75.

View Our Latest Report on First Financial Bankshares

First Financial Bankshares Trading Down 1.7 %

First Financial Bankshares stock opened at $32.26 on Monday. First Financial Bankshares has a 12 month low of $22.84 and a 12 month high of $33.15. The stock’s 50 day moving average is $31.36 and its 200-day moving average is $28.42. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 23.04 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFINGet Free Report) last posted its earnings results on Thursday, January 25th. The bank reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). The firm had revenue of $119.49 million during the quarter, compared to analyst estimates of $125.09 million. First Financial Bankshares had a net margin of 31.28% and a return on equity of 14.53%. First Financial Bankshares’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. As a group, equities research analysts predict that First Financial Bankshares will post 1.45 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 14th. First Financial Bankshares’s payout ratio is presently 51.43%.

Institutional Investors Weigh In On First Financial Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Command Advisory Services Inc. bought a new stake in First Financial Bankshares during the third quarter worth $26,000. Lindbrook Capital LLC increased its holdings in shares of First Financial Bankshares by 134.8% during the fourth quarter. Lindbrook Capital LLC now owns 911 shares of the bank’s stock worth $28,000 after buying an additional 523 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of First Financial Bankshares during the third quarter worth $40,000. Clear Street Markets LLC acquired a new position in shares of First Financial Bankshares during the fourth quarter worth $53,000. Finally, KBC Group NV acquired a new position in shares of First Financial Bankshares during the fourth quarter worth $62,000. 69.78% of the stock is currently owned by institutional investors.

About First Financial Bankshares

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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.

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