First Financial Bankshares (NASDAQ:FFIN) Stock Rating Upgraded by Piper Sandler

First Financial Bankshares (NASDAQ:FFIN) was upgraded by equities researchers at Piper Sandler to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

FFIN has been the subject of a number of other research reports. Benchmark assumed coverage on First Financial Bankshares in a report on Wednesday, June 24th. They issued a “buy” rating and a $39.00 price target for the company. Weiss Ratings upgraded First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.40.

First Financial Bankshares Price Performance

First Financial Bankshares stock opened at $33.07 on Thursday. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 17.68 and a beta of 0.81. First Financial Bankshares has a 1 year low of $28.11 and a 1 year high of $38.12. The firm has a 50-day moving average of $34.64 and a two-hundred day moving average of $32.69.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Friday, July 17th. The bank reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. The business had revenue of $172.76 million for the quarter, compared to the consensus estimate of $173.03 million. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. During the same period in the prior year, the firm earned $0.47 EPS. Research analysts expect that First Financial Bankshares will post 2.04 earnings per share for the current year.

Insider Activity

In other news, CAO Ronald David Butler II sold 15,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.95, for a total transaction of $524,250.00. Following the transaction, the chief accounting officer directly owned 152,223 shares in the company, valued at approximately $5,320,193.85. This trade represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael B. Denny acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were acquired at an average cost of $34.66 per share, for a total transaction of $103,980.00. Following the completion of the acquisition, the director owned 6,500 shares of the company’s stock, valued at $225,290. This trade represents a 85.71% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 4,700 shares of company stock worth $161,583. 3.80% of the stock is currently owned by corporate insiders.

Institutional Trading of First Financial Bankshares

A number of hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its position in shares of First Financial Bankshares by 10.8% in the 1st quarter. Royal Bank of Canada now owns 64,287 shares of the bank’s stock worth $2,309,000 after acquiring an additional 6,290 shares in the last quarter. AQR Capital Management LLC boosted its position in First Financial Bankshares by 51.3% during the first quarter. AQR Capital Management LLC now owns 118,437 shares of the bank’s stock valued at $4,228,000 after purchasing an additional 40,173 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in First Financial Bankshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,474 shares of the bank’s stock valued at $2,783,000 after purchasing an additional 3,382 shares in the last quarter. Empowered Funds LLC bought a new stake in First Financial Bankshares during the first quarter valued at about $1,760,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in First Financial Bankshares by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 396,513 shares of the bank’s stock valued at $14,243,000 after purchasing an additional 59,416 shares during the last quarter. Hedge funds and other institutional investors 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.