First Financial Bankshares (NASDAQ:FFIN) Stock Price Target Cut by Cantor Fitzgerald

First Financial Bankshares (NASDAQ:FFIN) had its price objective reduced by Cantor Fitzgerald from $35.00 to $34.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the bank’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 10.35% from the stock’s current price.

A number of other research firms also recently weighed in on FFIN. Piper Sandler began coverage on First Financial Bankshares in a report on Thursday, August 27th. They set a “neutral” rating and a $35.00 target price for the company. Hovde Group started coverage on shares of First Financial Bankshares in a research note on Friday, September 11th. They issued a “market perform” rating and a $36.00 price target on the stock. Benchmark assumed coverage on shares of First Financial Bankshares in a research report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, First Financial Bankshares currently has an average rating of “Hold” and a consensus price target of $35.60.

First Financial Bankshares Trading Up 0.1%

NASDAQ:FFIN opened at $30.81 on Wednesday. The stock has a market cap of $4.42 billion, a P/E ratio of 16.47 and a beta of 0.82. The stock has a 50 day simple moving average of $33.13 and a 200 day simple moving average of $32.96. First Financial Bankshares has a 1-year low of $28.11 and a 1-year high of $36.52.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Friday, July 17th. The bank reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%. The firm had revenue of $172.76 million for the quarter, compared to analyst estimates of $173.03 million. During the same period in the prior year, the firm posted $0.47 EPS. As a group, sell-side analysts forecast that First Financial Bankshares will post 2.04 EPS for the current year.

Insider Activity at First Financial Bankshares

In related news, Director Michael B. Denny acquired 3,000 shares of the stock in a transaction on Tuesday, August 18th. The shares were purchased at an average price of $34.66 per share, for a total transaction of $103,980.00. Following the purchase, the director directly owned 6,500 shares in the company, valued at approximately $225,290. The trade was a 85.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Ronald David Butler II sold 15,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $34.95, for a total value of $524,250.00. Following the transaction, the chief accounting officer owned 152,223 shares in the company, valued at approximately $5,320,193.85. This trade represents a 8.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.80% of the company’s stock.

Institutional Trading of First Financial Bankshares

A number of institutional investors have recently modified their holdings of FFIN. Versant Capital Management Inc grew its holdings in shares of First Financial Bankshares by 8.4% in the second quarter. Versant Capital Management Inc now owns 3,824 shares of the bank’s stock valued at $132,000 after acquiring an additional 295 shares in the last quarter. Smart Money Group LLC lifted its holdings in First Financial Bankshares by 0.4% during the first quarter. Smart Money Group LLC now owns 80,245 shares of the bank’s stock worth $2,363,000 after acquiring an additional 354 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in First Financial Bankshares by 2.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 13,147 shares of the bank’s stock worth $393,000 after acquiring an additional 356 shares during the period. State of Michigan Retirement System lifted its holdings in First Financial Bankshares by 2.0% during the first quarter. State of Michigan Retirement System now owns 31,363 shares of the bank’s stock worth $924,000 after acquiring an additional 600 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in First Financial Bankshares by 2.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 26,751 shares of the bank’s stock worth $788,000 after purchasing an additional 700 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, online and mobile banking, and other deposit products. The company also provides trust, wealth-management and investment-related services through affiliated operations.

First Financial Bankshares traces its history to 1890 and serves communities across Texas through a network of banking locations.