First Financial Bankshares (NASDAQ:FFIN) Given New $39.00 Price Target at Hovde Group

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) had its target price lifted by equities researchers at Hovde Group from $38.00 to $39.00 in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage currently has a "market perform" rating on the bank's stock. Hovde Group's price target would suggest a potential upside of 4.50% from the stock's current price.

Separately, Keefe, Bruyette & Woods increased their price target on First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research note on Friday.

First Financial Bankshares Stock Up 1.4%

FFIN stock opened at $37.32 on Monday. The business has a 50 day moving average price of $36.07 and a two-hundred day moving average price of $35.75. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 21.70 and a beta of 0.87. First Financial Bankshares has a twelve month low of $30.58 and a twelve month high of $44.66.

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

Insider Activity

In other First Financial Bankshares news, Director Michael B. Denny purchased 5,000 shares of First Financial Bankshares stock in a transaction dated Friday, June 13th. The shares were bought at an average cost of $36.02 per share, for a total transaction of $180,100.00. Following the transaction, the director owned 108,708 shares in the company, valued at $3,915,662.16. This represents a 4.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 6,399 shares of company stock valued at $227,646 over the last quarter. 3.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Financial Bankshares

Several hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC grew its stake in shares of First Financial Bankshares by 57.4% in the 2nd quarter. Avior Wealth Management LLC now owns 23,800 shares of the bank's stock worth $856,000 after purchasing an additional 8,678 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of First Financial Bankshares by 2.2% in the 2nd quarter. Ballentine Partners LLC now owns 13,358 shares of the bank's stock worth $481,000 after purchasing an additional 293 shares during the last quarter. Diversified Trust Co grew its stake in shares of First Financial Bankshares by 4.8% in the 2nd quarter. Diversified Trust Co now owns 46,261 shares of the bank's stock worth $1,664,000 after purchasing an additional 2,123 shares during the last quarter. Baron Wealth Management LLC acquired a new position in shares of First Financial Bankshares in the second quarter worth about $242,000. Finally, Strs Ohio acquired a new position in shares of First Financial Bankshares in the first quarter worth about $402,000. Institutional investors and hedge funds own 69.78% of the company's stock.

About First Financial Bankshares

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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