First Financial Bankshares (NASDAQ:FFIN) Reaches New 12-Month Low at $26.06

Posted by on May 11th, 2023

First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating) hit a new 52-week low during trading on Tuesday . The stock traded as low as $26.06 and last traded at $26.08, with a volume of 84382 shares trading hands. The stock had previously closed at $26.79.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Stephens reduced their price target on First Financial Bankshares from $34.00 to $32.00 and set an “equal weight” rating for the company in a research report on Friday, April 21st. Piper Sandler reduced their price target on First Financial Bankshares from $28.00 to $26.00 in a research report on Friday, April 21st. Truist Financial dropped their price objective on First Financial Bankshares from $38.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, March 23rd. Finally, StockNews.com lowered First Financial Bankshares from a “hold” rating to a “sell” rating in a research note on Friday, March 10th.

First Financial Bankshares Stock Down 0.0 %

The firm has a 50 day simple moving average of $30.72 and a 200-day simple moving average of $34.13. The stock has a market cap of $3.81 billion, a P/E ratio of 16.58 and a beta of 0.73.

First Financial Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.70%. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.17. First Financial Bankshares’s dividend payout ratio (DPR) is 42.24%.

Insider Transactions at First Financial Bankshares

In other news, Director Robert Clark Nickles, Jr. bought 18,387 shares of the stock in a transaction dated Tuesday, May 9th. The shares were bought at an average price of $26.19 per share, for a total transaction of $481,555.53. Following the completion of the purchase, the director now owns 91,172 shares in the company, valued at $2,387,794.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert Clark Nickles, Jr. purchased 18,387 shares of First Financial Bankshares stock in a transaction that occurred on Tuesday, May 9th. The shares were acquired at an average price of $26.19 per share, with a total value of $481,555.53. Following the completion of the transaction, the director now directly owns 91,172 shares of the company’s stock, valued at approximately $2,387,794.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Clark Nickles, Jr. purchased 9,146 shares of First Financial Bankshares stock in a transaction that occurred on Tuesday, March 14th. The shares were bought at an average cost of $32.75 per share, for a total transaction of $299,531.50. Following the transaction, the director now directly owns 72,785 shares of the company’s stock, valued at $2,383,708.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 41,733 shares of company stock worth $1,222,342. Company insiders own 4.11% of the company’s stock.

Institutional Investors Weigh In On First Financial Bankshares

A number of large investors have recently added to or reduced their stakes in FFIN. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of First Financial Bankshares in the 4th quarter valued at $34,000. Wipfli Financial Advisors LLC acquired a new stake in shares of First Financial Bankshares in the 3rd quarter valued at $38,000. CI Investments Inc. boosted its holdings in shares of First Financial Bankshares by 47.3% in the 4th quarter. CI Investments Inc. now owns 1,118 shares of the bank’s stock valued at $38,000 after purchasing an additional 359 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of First Financial Bankshares by 104.7% in the 4th quarter. Parallel Advisors LLC now owns 1,132 shares of the bank’s stock valued at $39,000 after purchasing an additional 579 shares in the last quarter. Finally, Steward Financial Group LLC acquired a new stake in shares of First Financial Bankshares in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 53.86% of the company’s stock.

First Financial Bankshares Company Profile

(Get Rating)

First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.

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