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

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

Analyst Ratings Changes

A number of brokerages have commented on FFIN. Stephens upped their target price 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 raised their price objective on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Finally, Truist Financial increased their price target on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th.

First Financial Bankshares Stock Up 0.7 %

The stock has a market capitalization of $6.17 billion, a P/E ratio of 29.59 and a beta of 0.78. The stock’s 50 day moving average price is $37.17 and its 200-day moving average price is $33.87.

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

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Thursday, December 12th. First Financial Bankshares’s payout ratio is currently 49.66%.

Insider Buying and Selling at First Financial Bankshares

In other news, Director Michael B. Denny sold 7,000 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 owns 101,085 shares in the company, valued at approximately $4,156,615.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.22% of the stock is owned by insiders.

Institutional Trading of First Financial Bankshares

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of First Financial Bankshares by 3.4% in the first 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. SG Americas Securities LLC raised its stake in First Financial Bankshares by 480.0% in the 2nd quarter. SG Americas Securities LLC now owns 39,602 shares of the bank’s stock worth $1,169,000 after acquiring an additional 32,774 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in First Financial Bankshares during the 1st quarter worth about $1,100,000. Bridges Investment Management Inc. purchased a new stake in First Financial Bankshares during the 2nd quarter valued at about $637,000. Finally, Bank of New York Mellon Corp increased its holdings 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 period. 69.78% of the stock is currently owned by institutional investors and hedge funds.

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.