First Financial Banking Stocks (NASDAQ:FFIN – Rating Maintained) Its target price was cut to $44.50 by research analysts at Hovde Group in a report published on Friday, Stock Target Advisor reports. Hovde Group’s price target suggests potential upside of 4.46% from the company’s previous close.
A number of other brokerage firms have also recently commented on FFIN. StockNews.com upgraded shares of First Financial Bankshares from a “sell” rating to a “hold” rating in a report Tuesday, June 28th. Truist Financial cut its target price on shares of First Financial Bankshares to $42.00 from $44.00 in a research report on Wednesday, June 20th.
First Financial bank shares are trading up 2.3%
Shares in First Financial Bankshares rose $0.97 during Friday trade to hit $42.60. 576,525 shares of the stock were exchanged compared to an average volume of 460,461. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 26.96 and a beta of 0.85. The company has a 50-day moving average price of $40.15 and a 200-day moving average price of $43.93. First Financial Bankshares has a 1 year low of $37.47 and a 1 year high of $55.00.
First Financial Bankshares (NASDAQ:FFIN – Get Rating) last announced its earnings results on Thursday, July 21st. The bank reported $0.42 per share for the quarter, beating the consensus estimate of $0.40 by $0.02. First Financial bank stock had a net margin of 43.17% and a return on equity of 13.04%. Equities Research analysts are forecasting that First Financial Bankshares will post 1.57 EPS for the current fiscal year.
Insider buying and selling
In other news from First Financial Bankshares, director Johnny Trotter acquired 1,000 shares of the company in a transaction on Friday, June 10. The shares were purchased at an average price of $39.34 per share for a total value of $39,340.00. Upon completion of the purchase, the Director now owns 893,757 shares of the Company, valued at $35,160,400.38. The acquisition was disclosed in a filing with the SEC, which can be accessed at this hyperlink. In related news, Director Kade Matthews acquired 5,000 shares of the company in a transaction that took place on Friday, April 29th. The stock was acquired at an average price of $40.80 per share for a total transaction of $204,000.00. Upon completion of the acquisition, the Director now owns 10,848 shares of the Company, valued at approximately $442,598.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed at this hyperlink. In addition, Director Johnny Trotter purchased 1,000 shares of First Financial Bankshares in a transaction on Friday, June 10th. The stock was purchased at an average price of $39.34 per share for a total value of $39,340.00. Following the purchase, the Director now directly owns 893,757 shares of the Company, valued at $35,160,400.38. The disclosure for this purchase can be found here. Insiders have bought a total of 19,000 shares of the company’s shares worth $773,925 over the past ninety days. 4.19% of the shares are owned by company insiders.
Institutional investors rely on First Financial bank stocks
Several hedge funds have recently bought and sold shares of the stock. Sageworth Trust Co of South Dakota acquired a new interest in First Financial Bankshares stock valued at approximately $31,000 during the fourth quarter. Steward Partners Investment Advisory LLC increased its holding in shares of First Financial Bankshares by 803.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 705 shares of the bank, valued at $31,000, after purchasing an additional 627 shares last quarter. Massmutual Trust Co. FSB ADV acquired a new interest in First Financial Bankshares stock valued at $32,000 during the first quarter. Ahrens Investment Partners LLC increased its stake in First Financial Bankshares by 520.2% in the first quarter. Ahrens Investment Partners LLC now owns 769 shares of the bank, valued at $34,000, after purchasing an additional 645 shares last quarter. Finally, Meeder Asset Management Inc. increased its stake in First Financial Bankshares by 807.3% during the first quarter. Meeder Asset Management Inc. now owns 1,116 shares of the bank, valued at $49,000, after buying an additional 993 shares last quarter. 53.35% of the shares are currently held by institutional investors.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts giro, savings and money market accounts as well as time deposits; commercial and industrial, municipal, farm, construction and development real estate, farm, non-occupier and owner-occupied commercial real estate, residential and consumer auto and non-auto loans to businesses, freelancers, and farm and ranch operations.
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