First Financial Bankshares (NASDAQ:FFIN) Hits New 52-Week Low – What’s Next?

by · The Markets Daily

First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Free Report) shares hit a new 52-week low during trading on Friday . The company traded as low as $28.89 and last traded at $29.31, with a volume of 62711 shares trading hands. The stock had previously closed at $30.30.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of First Financial Bankshares in a research report on Friday, January 9th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.00.

Read Our Latest Research Report on FFIN

First Financial Bankshares Stock Performance

The company has a market cap of $4.23 billion, a P/E ratio of 16.70 and a beta of 0.83. The stock has a 50 day moving average price of $32.20 and a 200 day moving average price of $32.74.

First Financial Bankshares (NASDAQ:FFIN – Get Free Report) last released its earnings results on Friday, January 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. First Financial Bankshares had a return on equity of 14.16% and a net margin of 30.43%.The firm had revenue of $164.72 million for the quarter, compared to analyst estimates of $165.70 million. During the same period in the previous year, the company earned $0.43 earnings per share. First Financial Bankshares’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts predict that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a $0.19 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.76 annualized dividend and a yield of 2.6%. First Financial Bankshares’s payout ratio is 42.94%.

Insider Activity at First Financial Bankshares

In related news, Director Geoff Haney acquired 10,200 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was bought at an average price of $33.18 per share, for a total transaction of $338,436.00. Following the transaction, the director owned 32,146 shares of the company’s stock, valued at approximately $1,066,604.28. The trade was a 46.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders acquired 11,329 shares of company stock worth $375,994. 4.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Financial Bankshares

Several hedge funds have recently modified their holdings of the stock. HHM Wealth Advisors LLC purchased a new position in First Financial Bankshares in the 3rd quarter worth about $25,000. Corsicana & Co. acquired a new stake in First Financial Bankshares during the 3rd quarter worth about $27,000. Olistico Wealth LLC purchased a new position in First Financial Bankshares during the 4th quarter valued at about $30,000. Quarry LP lifted its position in shares of First Financial Bankshares by 66.3% in the third quarter. Quarry LP now owns 1,026 shares of the bank’s stock worth $35,000 after purchasing an additional 409 shares in the last quarter. Finally, Danske Bank A S lifted its position in shares of First Financial Bankshares by 200.0% in the fourth quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock worth $36,000 after purchasing an additional 800 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

First Financial Bankshares Company Profile

(Get Free Report)

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.

Featured Stories