First Financial Bankshares, Inc. (FFIN) Stock

First Financial Bankshares, Inc. (FFIN) is a Financials stock trading at $34.23 (as of 2026-08-20), with a market capitalization of $4.91B and a trailing P/E of 18.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

First Financial Bankshares, Inc., through its subsidiaries, offers commercial banking services in Texas, including deposit accounts, commercial and consumer loans, payment and deposit options such as remote deposit capture and internet/mobile banking, and related services like ATMs and safe deposit facilities. It also provides personal trust, securities brokerage, retirement and employee benefits administration, and asset management and technology services for businesses, individuals, and farm and ranch customers.

Understand First Financial Bankshares, Inc.: how it makes money

First Financial Bankshares provides commercial banking in Texas, taking deposits and making loans (including commercial real estate and consumer auto/non-auto loans) and earning money from banking products and services, including trust-related fee income tied to assets under management.

Earnings are structurally driven by the bank's balance sheet businesses, deposits funding a loan portfolio for interest income, plus trust-related fee income that scales with Trust Assets under Management.

Business quality (Strong): High-level business and operating context are clear, but the provided segment revenue breakdown is not cleanly usable (only one trust-related item is shown), so segment-level comparisons are limited.

Valuation: At 18× earnings, FFIN trades 41% above the Banking average (13×). Note: one-time items can distort reported P/E.

Bull case

Trust fee engine tied to AUM: The company has a trust revenue component explicitly linked to assets under management, so growth or stability in Trust Assets under Management can support fee income.
Full-service commercial banking offering: It offers deposits and a wide range of loan types (commercial and industrial, municipal, agricultural, construction and development, commercial real estate, and consumer auto and non-auto), plus digital banking features (internet and mobile banking, remote deposit capture), which can support customer retention and product cross-sell.

Bear case

Geographic concentration in Texas: Operations are in Texas, which can increase exposure to local economic cycles and regional credit conditions.
Loan and credit risk concentration: The loan mix includes commercial real estate and other commercial categories, which can face elevated credit and collateral value risk during downturns.
Reliance on trust-related conditions: If Trust Assets under Management declines, trust-related revenue could be pressured, since it is linked to assets under management.

Valuation — source: SEC EDGAR (first-party)
Price	$34.23
Market Cap	$4.91B
P/E Ratio	18.2
EV / EBITDA	12.7
Price / Book	2.46
Price / Sales	6.71
FCF Yield	6.6%
DCF Value (model)	$38.98
DCF Upside vs Price	13.9%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$702.48M
Net Margin	36.1%
Revenue Growth (YoY)	7.6%
EPS Growth (YoY)	6.4%
FCF Growth (YoY)	28.1%

Valuation vs Sector & Industry
Stock P/E	18.2
Sector P/E (Financials)	15.1
Industry P/E (Banking)	12.9
vs Sector	20.5%
vs Industry	41.2%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($503.77M)
Institutional Holders Tracked	10
Congressional Trades (recent)	2

Company
Sector	Financials
Industry	Banking
CEO	David W. Bailey
Employees	1,400
Country	US
IPO Date	1993-11-01

Related Companies (Business model: Universal / Commercial Bank; 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.