First Financial Bankshares (NASDAQ:FFIN) Sets New 52-Week Low – Time to Sell?

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) hit a new 52-week low on Monday . The stock traded as low as $30.01 and last traded at $29.8750, with a volume of 273728 shares changing hands. The stock had previously closed at $31.14.

Analyst Ratings Changes

A number of research firms have recently weighed in on FFIN. Hovde Group raised First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a research note on Monday, October 27th. Cantor Fitzgerald began coverage on shares of First Financial Bankshares in a report on Wednesday, September 10th. They set a “neutral” rating and a $39.00 price target for the company. Keefe, Bruyette & Woods cut their price target on shares of First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a report on Friday, October 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $38.00.

First Financial Bankshares Trading Down 4.1%

The firm has a market capitalization of $4.28 billion, a PE ratio of 17.67 and a beta of 0.88. The company has a fifty day moving average price of $33.00 and a two-hundred day moving average price of $34.89.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Friday, October 24th. The bank reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). First Financial Bankshares had a return on equity of 14.16% and a net margin of 29.81%.The firm had revenue of $161.27 million for the quarter, compared to analysts’ expectations of $161.21 million. During the same quarter in the prior year, the business earned $0.37 EPS. The company’s quarterly revenue was up 15.6% 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 announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, December 15th. First Financial Bankshares’s payout ratio is presently 44.97%.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, CFO Michelle S. Hickox bought 2,000 shares of First Financial Bankshares stock in a transaction dated Tuesday, October 28th. The stock was acquired at an average cost of $31.15 per share, with a total value of $62,300.00. Following the completion of the acquisition, the chief financial officer owned 24,461 shares of the company’s stock, valued at approximately $761,960.15. This represents a 8.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sally Pope Davis bought 1,700 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were acquired at an average price of $30.73 per share, with a total value of $52,241.00. Following the purchase, the director directly owned 6,971 shares of the company’s stock, valued at approximately $214,218.83. This trade represents a 32.25% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 4,353 shares of company stock valued at $134,888. 4.22% of the stock is owned by insiders.

Institutional Trading of First Financial Bankshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in FFIN. Norges Bank acquired a new position in shares of First Financial Bankshares in the second quarter valued at approximately $57,680,000. Nuveen LLC purchased a new position in First Financial Bankshares in the 1st quarter valued at $34,662,000. Invesco Ltd. lifted its stake in shares of First Financial Bankshares by 170.9% in the 2nd quarter. Invesco Ltd. now owns 1,101,028 shares of the bank’s stock worth $39,615,000 after acquiring an additional 694,534 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of First Financial Bankshares by 36.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank’s stock worth $88,571,000 after acquiring an additional 652,575 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of First Financial Bankshares by 125.7% in the first quarter. Ameriprise Financial Inc. now owns 1,085,517 shares of the bank’s stock valued at $38,993,000 after acquiring an additional 604,648 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other 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.