First Financial Bankshares (NASDAQ:FFIN) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

First Financial Bankshares, Inc. (NASDAQ:FFIN) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.69 and traded as high as $33.65. First Financial Bankshares shares last traded at $33.07, with a volume of 567,255 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Piper Sandler initiated coverage on First Financial Bankshares in a research note on Thursday. They issued a “neutral” rating and a $35.00 price target for the company. Weiss Ratings raised First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $35.00 price target (up from $34.00) on shares of First Financial Bankshares in a report on Wednesday, July 15th. Finally, Benchmark started coverage on shares of First Financial Bankshares in a report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.40.

First Financial Bankshares Stock Up 1.0%

The business’s fifty day moving average is $34.65 and its 200-day moving average is $32.69. The company has a market cap of $4.79 billion, a PE ratio of 17.86 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. The business had revenue of $172.76 million for the quarter, compared to the consensus estimate of $173.03 million. During the same period last year, the firm earned $0.47 earnings per share. Analysts forecast that First Financial Bankshares, Inc. will post 2.05 EPS for the current fiscal year.

First Financial Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, September 14th. First Financial Bankshares’s payout ratio is currently 47.06%.

Insiders Place Their Bets

In other news, Director Murray Hamilton Edwards bought 1,000 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $33.18 per share, with a total value of $33,180.00. Following the acquisition, the director owned 44,634 shares of the company’s stock, valued at $1,480,956.12. The trade was a 2.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ronald David Butler II sold 15,000 shares of First Financial Bankshares stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.95, for a total transaction of $524,250.00. Following the transaction, the chief accounting officer directly owned 152,223 shares in the company, valued at $5,320,193.85. This represents a 8.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased a total of 4,700 shares of company stock worth $161,583 over the last quarter. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Waterloo Capital L.P. boosted its holdings in shares of First Financial Bankshares by 978.4% in the 4th quarter. Waterloo Capital L.P. now owns 68,899 shares of the bank’s stock worth $2,058,000 after purchasing an additional 62,510 shares during the period. Jefferies Financial Group Inc. lifted its position in First Financial Bankshares by 283.7% in the fourth quarter. Jefferies Financial Group Inc. now owns 112,781 shares of the bank’s stock worth $3,369,000 after buying an additional 83,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in First Financial Bankshares by 3,042,660.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank’s stock worth $642,573,000 after buying an additional 21,511,608 shares during the period. Excelsior Advisor Network LLC purchased a new stake in shares of First Financial Bankshares in the first quarter valued at $6,903,000. Finally, Fifth Third Bancorp lifted its holdings in shares of First Financial Bankshares by 5,632.8% in the 1st quarter. Fifth Third Bancorp now owns 36,346 shares of the bank’s stock worth $1,070,000 after acquiring an additional 35,712 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.