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

First Financial Bankshares, Inc. (NASDAQ:FFIN)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $28.52 and last traded at $28.59, with a volume of 901076 shares changing hands. The stock had previously closed at $29.33.

Analyst Upgrades and Downgrades

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

First Financial Bankshares Trading Up 1.1%

The stock has a market cap of $4.15 billion, a PE ratio of 16.36 and a beta of 0.83. The business has a 50 day moving average of $31.98 and a 200-day moving average of $32.25.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The company had revenue of $164.72 million during the quarter, compared to analysts’ expectations of $165.70 million. First Financial Bankshares had a return on equity of 14.16% and a net margin of 30.43%.The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. Research analysts expect that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, March 13th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 42.94%.

Insider Activity

In other First Financial Bankshares news, Director Geoff Haney acquired 1,500 shares of the stock in a transaction on Thursday, March 12th. The shares were bought at an average price of $29.18 per share, with a total value of $43,770.00. Following the acquisition, the director owned 33,646 shares of the company’s stock, valued at $981,790.28. This trade represents a 4.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sally Pope Davis purchased 1,800 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was acquired at an average price of $29.52 per share, for a total transaction of $53,136.00. Following the completion of the purchase, the director owned 10,371 shares of the company’s stock, valued at approximately $306,151.92. This represents a 21.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 21,629 shares of company stock valued at $681,060. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Financial Bankshares

Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in First Financial Bankshares by 3,042,660.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank’s stock worth $642,573,000 after buying an additional 21,511,608 shares in the last quarter. Norges Bank purchased a new position in First Financial Bankshares in the fourth quarter valued at about $51,227,000. Millennium Management LLC lifted its position in shares of First Financial Bankshares by 4,145.8% during the 4th quarter. Millennium Management LLC now owns 1,709,631 shares of the bank’s stock valued at $51,067,000 after acquiring an additional 1,669,365 shares during the period. Invesco Ltd. lifted its position in shares of First Financial Bankshares by 170.9% during the 2nd quarter. Invesco Ltd. now owns 1,101,028 shares of the bank’s stock valued at $39,615,000 after acquiring an additional 694,534 shares during the period. Finally, Tudor Investment Corp ET AL boosted its stake in shares of First Financial Bankshares by 460.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 503,246 shares of the bank’s stock worth $15,032,000 after acquiring an additional 413,376 shares in the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

About First Financial Bankshares

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.