Federated Hermes Inc. Boosts Holdings in First Financial Bankshares, Inc. $FFIN

Federated Hermes Inc. raised its stake in First Financial Bankshares, Inc. (NASDAQ:FFIN) by 12.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 186,633 shares of the bank’s stock after acquiring an additional 20,079 shares during the quarter. Federated Hermes Inc. owned approximately 0.13% of First Financial Bankshares worth $6,280,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of FFIN. Truist Financial Corp grew its holdings in First Financial Bankshares by 20.6% during the third quarter. Truist Financial Corp now owns 7,788 shares of the bank’s stock valued at $262,000 after purchasing an additional 1,332 shares during the period. Stoneridge Investment Partners LLC raised its stake in shares of First Financial Bankshares by 7.6% in the third quarter. Stoneridge Investment Partners LLC now owns 12,214 shares of the bank’s stock valued at $411,000 after buying an additional 864 shares during the period. Covestor Ltd lifted its position in shares of First Financial Bankshares by 14.0% during the 3rd quarter. Covestor Ltd now owns 3,255 shares of the bank’s stock valued at $110,000 after buying an additional 399 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of First Financial Bankshares during the 3rd quarter valued at $25,000. Finally, Amalgamated Bank grew its stake in shares of First Financial Bankshares by 1.4% during the 3rd quarter. Amalgamated Bank now owns 57,429 shares of the bank’s stock worth $1,932,000 after acquiring an additional 769 shares during the period. Institutional investors own 69.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a research note on Friday, January 9th. Hovde Group upgraded shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price target on the stock in a research note on Monday, October 27th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a report on Friday, October 24th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, First Financial Bankshares has a consensus rating of “Hold” and a consensus target price of $38.00.

First Financial Bankshares Trading Up 1.9%

Shares of First Financial Bankshares stock opened at $32.41 on Tuesday. The company’s 50-day moving average price is $31.50 and its 200-day moving average price is $33.14. First Financial Bankshares, Inc. has a 12-month low of $29.43 and a 12-month high of $38.74. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 18.31 and a beta of 0.86.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.16%. The company had revenue of $164.72 million during the quarter, compared to analysts’ expectations of $165.70 million. During the same quarter in the previous year, the company earned $0.43 earnings per share. First Financial Bankshares’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

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.