First Financial Bankshares (NASDAQ:FFIN) Hits New 52-Week High – Still a Buy?

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) reached 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 changing hands. The stock had previously closed at $42.77.

Analyst Ratings Changes

FFIN has been the subject of several recent analyst reports. Stephens lifted their price objective 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. Hovde Group lifted their price objective on shares of First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Finally, Truist Financial lifted their price objective 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.

First Financial Bankshares Price Performance

The firm has a market capitalization of $6.24 billion, a P/E ratio of 30.69 and a beta of 0.78. The firm has a 50-day moving average price of $38.19 and a two-hundred day moving average price of $34.58.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. The business had revenue of $142.10 million during the quarter, compared to the consensus estimate of $140.25 million. Sell-side analysts predict that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current fiscal year.

First Financial Bankshares Dividend Announcement

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

Insider Buying and Selling at First Financial Bankshares

In other news, Director Michael B. Denny sold 7,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was 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. The trade was a 6.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.22% of the stock is owned by insiders.

Institutional Investors Weigh In On First Financial Bankshares

A number of large investors have recently bought and sold shares of the company. Lindenwold Advisors INC boosted its position in First Financial Bankshares by 2.8% in the third quarter. Lindenwold Advisors INC now owns 9,091 shares of the bank’s stock valued at $336,000 after buying an additional 250 shares during the last quarter. Signaturefd LLC lifted its holdings in First Financial Bankshares by 5.0% in the second quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock valued at $166,000 after acquiring an additional 270 shares during the period. Crewe Advisors LLC lifted its holdings in First Financial Bankshares by 6.0% in the second quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock valued at $155,000 after acquiring an additional 296 shares during the period. Ballentine Partners LLC lifted its holdings in First Financial Bankshares by 2.8% in the third quarter. Ballentine Partners LLC now owns 12,190 shares of the bank’s stock valued at $451,000 after acquiring an additional 333 shares during the period. Finally, Huntington National Bank lifted its holdings in First Financial Bankshares by 32.2% in the third quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after acquiring an additional 577 shares during the period. Hedge funds and other institutional investors own 69.78% of the company’s stock.

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.