First Financial Bankshares (NASDAQ:FFIN) Given New $34.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods cut its price target for First Financial Bankshares from $36 to $34 and kept a market perform rating, implying roughly a 7.35% upside to the prior close.
• FFIN beat quarterly EPS estimates ($0.51 vs. $0.48) while revenue of $164.72M slightly missed expectations; the quarter showed a 30.43% net margin, 14.16% ROE and 13.1% year‑over‑year revenue growth.
• Shares traded at $31.67 (up 1.5%) with a market cap of $4.54B and a P/E of 17.93, and insiders were net buyers—CFO Michelle Hickox bought 1,000 shares at $29.50 and Director Geoff Haney bought 10,200 shares at $33.18, leaving insiders owning 3.80% of the company.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) had its target price decreased by investment analysts at Keefe, Bruyette & Woods from $36.00 to $34.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 7.35% from the stock's previous close.

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of First Financial Bankshares in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, First Financial Bankshares presently has an average rating of "Hold" and an average target price of $37.33.

First Financial Bankshares Stock Up 1.5%

NASDAQ FFIN traded up $0.46 on Thursday, reaching $31.67. 233,569 shares of the stock traded hands, compared to its average volume of 822,986. The firm's fifty day simple moving average is $31.26 and its 200 day simple moving average is $31.60. First Financial Bankshares has a 12 month low of $28.11 and a 12 month high of $38.74. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 17.93 and a beta of 0.82.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its earnings results on Friday, January 23rd. The bank reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.03. The business had revenue of $164.72 million for the quarter, compared to the consensus estimate of $165.70 million. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.16%. The business's revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS. As a group, equities research analysts forecast that First Financial Bankshares will post 1.78 EPS for the current fiscal year.

Insider Transactions at First Financial Bankshares

In other news, CFO Michelle S. Hickox bought 1,000 shares of First Financial Bankshares stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average cost of $29.50 per share, with a total value of $29,500.00. Following the completion of the transaction, the chief financial officer directly owned 11,861 shares in the company, valued at $349,899.50. This trade represents a 9.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Geoff Haney bought 10,200 shares of First Financial Bankshares stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average cost of $33.18 per share, with a total value of $338,436.00. Following the completion of the transaction, the director owned 32,146 shares of the company's stock, valued at $1,066,604.28. This trade represents a 46.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 21,629 shares of company stock valued at $681,060 over the last 90 days. Corporate insiders own 3.80% of the company's stock.

Institutional Trading of First Financial Bankshares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HHM Wealth Advisors LLC bought a new stake in shares of First Financial Bankshares during the third quarter worth approximately $25,000. Corsicana & Co. acquired a new stake in shares of First Financial Bankshares in the 3rd quarter valued at approximately $27,000. Olistico Wealth LLC acquired a new stake in shares of First Financial Bankshares in the 4th quarter valued at approximately $30,000. Quarry LP raised its position in shares of First Financial Bankshares by 66.3% in the 3rd quarter. Quarry LP now owns 1,026 shares of the bank's stock valued at $35,000 after acquiring an additional 409 shares during the period. Finally, Danske Bank A S lifted its holdings in shares of First Financial Bankshares by 200.0% during the 4th quarter. Danske Bank A S now owns 1,200 shares of the bank's stock valued at $36,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company's core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.

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