First Financial Bankshares (NASDAQ:FFIN) Sets New 12-Month High – Should You Buy?

First Financial Bankshares, Inc. (NASDAQ:FFIN) shares hit a new 52-week high on Wednesday . The company traded as high as $40.43 and last traded at $39.94, with a volume of 38046 shares changing hands. The stock had previously closed at $36.74.

Wall Street Analyst Weigh In

FFIN has been the topic of several recent analyst reports. Hovde Group boosted their target price on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Truist Financial upped their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, Stephens raised their target price on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, October 18th.

First Financial Bankshares Stock Performance

The stock’s 50-day moving average price is $36.86 and its 200-day moving average price is $33.61. The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 28.17 and a beta of 0.78.

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, December 12th. This represents a $0.72 annualized dividend and a yield of 1.76%. First Financial Bankshares’s dividend payout ratio is presently 49.66%.

Institutional Trading of First Financial Bankshares

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of First Financial Bankshares by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock worth $490,717,000 after buying an additional 490,770 shares during the last quarter. Champlain Investment Partners LLC raised its position in First Financial Bankshares by 27.6% during the first quarter. Champlain Investment Partners LLC now owns 3,334,349 shares of the bank’s stock worth $109,400,000 after acquiring an additional 720,820 shares during the last quarter. Strategic Financial Concepts LLC raised its position in First Financial Bankshares by 3,632.9% during the second quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock worth $884,000 after acquiring an additional 2,912,718 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Financial Bankshares by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank’s stock valued at $75,482,000 after purchasing an additional 130,361 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of First Financial Bankshares by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 1,375,856 shares of the bank’s stock valued at $40,629,000 after purchasing an additional 15,473 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Company Profile

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.