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

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) reached a new 52-week high during trading 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

FFIN has been the topic of a number of analyst reports. Stephens lifted their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. 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 research report on Friday, September 20th. Finally, Hovde Group raised their price objective on shares of First Financial Bankshares from $34.50 to $40.00 and gave the company a "market perform" rating in a research report on Monday, October 21st.

First Financial Bankshares Stock Performance

The stock has a fifty day moving average of $37.17 and a 200 day moving average of $33.87. The company has a market capitalization of $6.17 billion, a PE ratio of 29.59 and a beta of 0.78.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last issued its earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting analysts' consensus estimates of $0.39. The firm had revenue of $142.10 million during the quarter, compared to analyst estimates of $140.25 million. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%. As a group, equities analysts predict that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, December 12th. First Financial Bankshares's dividend payout ratio is presently 49.66%.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of the stock in a transaction on 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 transaction, the director now owns 101,085 shares in the company, valued at $4,156,615.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.22% of the company's stock.

Institutional Investors Weigh In On First Financial Bankshares

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in First Financial Bankshares by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank's stock valued at $490,717,000 after buying an additional 490,770 shares during the period. SG Americas Securities LLC raised its position 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 purchasing an additional 32,774 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in First Financial Bankshares in the first quarter worth about $1,100,000. Bridges Investment Management Inc. purchased a new position in shares of First Financial Bankshares during the second quarter valued at approximately $637,000. Finally, Bank of New York Mellon Corp grew its stake in shares of First Financial Bankshares by 1.1% during 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 buying an additional 15,473 shares during the last quarter. 69.78% of the stock is owned by institutional investors.

First Financial Bankshares Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.