First Financial Bankshares (NASDAQ:FFIN) Now Covered by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has upgraded First Financial Bankshares (NASDAQ: FFIN) to a "hold" rating, reflecting a change in analyst sentiment.
• The stock's price target has been raised by several analysts, with a consensus target of $39.20 following positive quarterly earnings results.
• Insider activity is notable, with Director Michael B. Denny purchasing 5,000 shares, indicating confidence in the company's future performance.

Equities research analysts at Cantor Fitzgerald began coverage on shares of First Financial Bankshares (NASDAQ:FFIN - Get Free Report) in a note issued to investors on Tuesday, Marketbeat reports. The firm set a "neutral" rating and a $39.00 price target on the bank's stock. Cantor Fitzgerald's price target would indicate a potential upside of 8.18% from the stock's previous close.

Several other equities analysts also recently issued reports on FFIN. Hovde Group upped their target price on First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods upped their target price on First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, First Financial Bankshares presently has a consensus rating of "Hold" and a consensus price target of $39.20.

First Financial Bankshares Trading Down 0.1%

Shares of FFIN opened at $36.05 on Tuesday. First Financial Bankshares has a 12 month low of $30.58 and a 12 month high of $44.66. The stock has a fifty day moving average price of $36.27 and a 200-day moving average price of $35.50. The firm has a market cap of $5.16 billion, a PE ratio of 20.96 and a beta of 0.89.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.45 by $0.02. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%.The firm had revenue of $156.60 million during the quarter, compared to analyst estimates of $156.41 million. During the same quarter in the prior year, the business posted $0.37 EPS. As a group, research analysts forecast that First Financial Bankshares will post 1.78 EPS for the current year.

Insider Activity

In other news, Director Michael B. Denny purchased 5,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was acquired at an average price of $36.02 per share, for a total transaction of $180,100.00. Following the acquisition, the director directly owned 108,708 shares of the company's stock, valued at approximately $3,915,662.16. This represents a 4.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.22% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Financial Bankshares

Several institutional investors have recently modified their holdings of FFIN. Investment Research & Advisory Group Inc. purchased a new stake in First Financial Bankshares in the first quarter valued at $26,000. Fifth Third Bancorp lifted its position in First Financial Bankshares by 161.5% in the first quarter. Fifth Third Bancorp now owns 714 shares of the bank's stock valued at $26,000 after acquiring an additional 441 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in First Financial Bankshares in the first quarter valued at $36,000. Smartleaf Asset Management LLC raised its holdings in shares of First Financial Bankshares by 47.5% in the first quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the bank's stock valued at $45,000 after buying an additional 404 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of First Financial Bankshares in the second quarter valued at about $54,000. 69.78% of the stock is owned by hedge funds and other 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.