Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for First Financial Bankshares (NASDAQ:FFIN) Stock

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) had its price objective lifted by equities research analysts at Keefe, Bruyette & Woods from $36.00 to $38.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 1.82% from the company's previous close.

Separately, Hovde Group reduced their price objective on First Financial Bankshares from $40.00 to $38.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock traded up $0.53 during trading on Friday, hitting $37.32. 758,424 shares of the company's stock traded hands, compared to its average volume of 521,150. First Financial Bankshares has a 1 year low of $30.58 and a 1 year high of $44.66. The stock has a market capitalization of $5.34 billion, a P/E ratio of 21.70 and a beta of 0.87. The business has a 50-day simple moving average of $36.07 and a 200-day simple moving average of $35.75.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last announced its earnings results on Thursday, July 17th. The bank reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.02. First Financial Bankshares had a return on equity of 14.89% and a net margin of 31.01%. The company had revenue of $156.60 million for the quarter, compared to analysts' expectations of $156.41 million. During the same period last year, the firm earned $0.37 EPS. On average, equities analysts predict that First Financial Bankshares will post 1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Financial Bankshares news, Director Michael B. Denny acquired 5,000 shares of the company's stock in a transaction on Friday, June 13th. The shares were bought at an average cost of $36.02 per share, with a total value of $180,100.00. Following the completion of the acquisition, the director owned 108,708 shares in the company, valued at approximately $3,915,662.16. This trade represents a 4.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders bought 6,399 shares of company stock worth $227,646 over the last quarter. 4.22% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Financial Bankshares

Several hedge funds and other institutional investors have recently made changes to their positions in FFIN. Squarepoint Ops LLC raised its stake in shares of First Financial Bankshares by 65.9% in the 4th quarter. Squarepoint Ops LLC now owns 29,807 shares of the bank's stock valued at $1,075,000 after acquiring an additional 11,836 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of First Financial Bankshares by 11.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 337,097 shares of the bank's stock valued at $12,152,000 after acquiring an additional 35,881 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of First Financial Bankshares in the 4th quarter valued at approximately $835,000. GAMMA Investing LLC raised its holdings in shares of First Financial Bankshares by 89.9% in the 1st quarter. GAMMA Investing LLC now owns 1,927 shares of the bank's stock valued at $69,000 after buying an additional 912 shares during the period. Finally, GTS Securities LLC purchased a new stake in shares of First Financial Bankshares in the 4th quarter valued at $278,000. Hedge funds and other institutional investors own 69.78% of the company's stock.

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.