Piper Sandler launched coverage on First Financial Bankshares Inc. (NASDAQ: FFIN) with a neutral rating and a price target of $35.00, reflecting a roughly 17x multiple of the firm’s 2027 earnings estimate and a fourfold premium versus peer valuations.
The bank’s shares currently trade at a price-to-earnings ratio of 17.92, according to available data. Piper Sandler projects a return on assets of 1.90% and a return on equity of 14.0% for 2027, alongside earnings per share of $2.05 in 2026 and $2.10 in 2027. The stock offers a dividend yield of 2.61%, with a track record of 15 consecutive years of dividend increases and 34 years of uninterrupted payouts.
A bullish benchmark house set a higher target of $39.00 with a buy rating, contrasting Piper Sandler’s neutral stance. First Financial Bankshares reported second-quarter earnings per share of $0.50, matching analyst expectations, with net income rising 7.8% year-over-year to $71.89 million. Net interest income climbed to $136.91 million from $123.73 million in the prior-year period, while the net interest margin expanded from 3.81% to 3.90%, driven by lower deposit costs and improved bond yields.
