First Financial Bankshares (FFIN, Financial) has reported a substantial decline in its first-quarter net charge-offs, falling to $236,000 from last year's $808,000. This improvement is primarily credited to a rise in net interest income driven by the company's balance sheet expansion over the past year.
Strong deposit inflows have been a key factor, facilitating loan growth and continuing bond investments, which in turn have enhanced margin growth and strengthened liquidity. Despite recent market volatility, the company maintains a robust financial position, evidenced by healthy capital levels, a diverse deposit base, and access to various liquidity sources.
The company's commitment to excellence has not gone unnoticed, as demonstrated by its recent recognition as the 3rd Best Bank in the Country by Forbes Magazine. This accolade reflects First Financial Bankshares' dedication to providing exceptional service to its customers.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for First Financial Bankshares Inc (FFIN, Financial) is $39.00 with a high estimate of $40.00 and a low estimate of $38.00. The average target implies an upside of 19.34% from the current price of $32.68. More detailed estimate data can be found on the First Financial Bankshares Inc (FFIN) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, First Financial Bankshares Inc's (FFIN, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for First Financial Bankshares Inc (FFIN, Financial) in one year is $42.84, suggesting a upside of 31.09% from the current price of $32.68. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the First Financial Bankshares Inc (FFIN) Summary page.
