First Financial Bankshares (NASDAQ:FFIN) Reaches New 1-Year High – Should You Buy?

First Financial Bankshares, Inc. (NASDAQ:FFIN)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $43.57 and last traded at $43.44, with a volume of 15260 shares traded. The stock had previously closed at $42.91.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on FFIN shares. Truist Financial upped their price target on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Hovde Group increased their target price on 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. Finally, Stephens increased their target price on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th.

First Financial Bankshares Price Performance

The firm has a market cap of $5.98 billion, a P/E ratio of 29.34 and a beta of 0.78. The stock has a 50 day moving average of $37.30 and a 200 day moving average of $33.96.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly 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. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. The business had revenue of $142.10 million during the quarter, compared to analyst estimates of $140.25 million. On average, research analysts predict that First Financial Bankshares, Inc. will post 1.52 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a yield of 1.72%. First Financial Bankshares’s payout ratio is 49.66%.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the sale, the director now directly owns 101,085 shares in the company, valued at $4,156,615.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.22% of the company’s stock.

Institutional Trading of First Financial Bankshares

A number of institutional investors have recently modified their holdings of FFIN. Olistico Wealth LLC purchased a new stake in shares of First Financial Bankshares during the second quarter worth about $29,000. Neo Ivy Capital Management bought a new position in First Financial Bankshares in the second quarter worth about $41,000. Quarry LP bought a new position in First Financial Bankshares in the second quarter worth about $83,000. Huntington National Bank raised its stake in First Financial Bankshares by 32.2% in the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock worth $88,000 after buying an additional 577 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in First Financial Bankshares in the second quarter worth about $97,000. 69.78% of the stock is currently 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.