First Financial Bankshares (NASDAQ:FFIN) Reaches New 52-Week Low – Here’s Why
by Tristan Rich · The Markets DailyFirst Financial Bankshares, Inc. (NASDAQ:FFIN – Get Free Report)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $28.54 and last traded at $29.4720, with a volume of 74298 shares changing hands. The stock had previously closed at $29.88.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a research note on Friday, January 9th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $38.00.
Check Out Our Latest Analysis on First Financial Bankshares
First Financial Bankshares Price Performance
The stock has a market cap of $4.23 billion, a P/E ratio of 16.70 and a beta of 0.83. The stock’s fifty day simple moving average is $32.18 and its 200-day simple moving average is $32.55.
First Financial Bankshares (NASDAQ:FFIN – Get Free Report) last announced its quarterly earnings results on Friday, January 23rd. The bank reported $0.51 earnings per share 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 business had revenue of $164.72 million for the quarter, compared to analysts’ expectations of $165.70 million. During the same period in the prior year, the firm earned $0.43 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. Analysts forecast that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.
First Financial Bankshares Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 2.6%. First Financial Bankshares’s payout ratio is 42.94%.
Insider Activity
In other news, Director Geoff Haney bought 10,200 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was purchased 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 in the company, valued at approximately $1,066,604.28. This trade represents a 46.48% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sally Pope Davis purchased 1,800 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were acquired at an average cost of $29.52 per share, for a total transaction of $53,136.00. Following the acquisition, the director owned 10,371 shares of the company’s stock, valued at approximately $306,151.92. The trade was a 21.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 18,129 shares of company stock worth $578,710 in the last 90 days. 4.22% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in First Financial Bankshares by 10.8% in the 1st quarter. Royal Bank of Canada now owns 64,287 shares of the bank’s stock worth $2,309,000 after buying an additional 6,290 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of First Financial Bankshares by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 118,437 shares of the bank’s stock valued at $4,228,000 after acquiring an additional 40,173 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in First Financial Bankshares by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,474 shares of the bank’s stock worth $2,783,000 after purchasing an additional 3,382 shares during the period. Empowered Funds LLC bought a new position in shares of First Financial Bankshares in the first quarter valued at approximately $1,760,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of First Financial Bankshares by 17.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 396,513 shares of the bank’s stock worth $14,243,000 after buying an additional 59,416 shares during the period. 69.78% of the stock is currently owned by institutional investors and hedge funds.
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.