First Financial Bankshares (NASDAQ:FFIN) Sets New 12-Month High – Here’s What Happened

First Financial Bankshares, Inc. (NASDAQ:FFIN) shares hit a new 52-week high on Monday . The company traded as high as $44.40 and last traded at $44.40, with a volume of 10068 shares trading hands. The stock had previously closed at $42.77.

Analyst Ratings Changes

A number of brokerages recently weighed in on FFIN. Hovde Group raised their target price on shares of First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st. Truist Financial lifted their price target on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th. Finally, Stephens lifted their price target on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th.

First Financial Bankshares Stock Performance

The company’s 50-day moving average is $38.19 and its 200 day moving average is $34.58. The company has a market capitalization of $6.24 billion, a PE ratio of 30.69 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $142.10 million for the quarter, compared to analysts’ expectations of $140.25 million. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. On average, analysts forecast that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Friday, December 13th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 49.66%.

Insiders Place Their Bets

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the sale, the director now owns 101,085 shares in the company, valued at approximately $4,156,615.20. This trade represents a 6.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.22% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Financial Bankshares

A number of institutional investors have recently added to or reduced their stakes in FFIN. Olistico Wealth LLC purchased a new stake in First Financial Bankshares during the 2nd quarter valued at approximately $29,000. Neo Ivy Capital Management purchased a new stake in First Financial Bankshares during the 2nd quarter valued at approximately $41,000. Quarry LP purchased a new stake in First Financial Bankshares during the 2nd quarter valued at approximately $83,000. Huntington National Bank grew its holdings in First Financial Bankshares by 32.2% during the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after buying an additional 577 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of First Financial Bankshares in the second quarter valued at $97,000. 69.78% of the stock is owned by hedge funds and other institutional investors.

About First Financial Bankshares

First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.