First Financial Bankshares (NASDAQ:FFIN) Shares Pass Above 200 Day Moving Average – Here’s What Happened

First Financial Bankshares, Inc. (NASDAQ:FFIN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.69 and traded as high as $33.65. First Financial Bankshares shares last traded at $33.07, with a volume of 567,255 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FFIN shares. Piper Sandler initiated coverage on shares of First Financial Bankshares in a research note on Thursday. They set a “neutral” rating and a $35.00 price target for the company. Benchmark assumed coverage on shares of First Financial Bankshares in a research note on Wednesday, June 24th. They issued a “buy” rating and a $39.00 price objective on the stock. Weiss Ratings raised shares of First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.40.

First Financial Bankshares Price Performance

The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 17.68 and a beta of 0.81. The firm has a 50 day simple moving average of $34.64 and a two-hundred day simple moving average of $32.69.

First Financial Bankshares (NASDAQ:FFIN) last posted its earnings results on Friday, July 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $172.76 million during the quarter, compared to analyst estimates of $173.03 million. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.During the same period in the previous year, the company earned $0.47 EPS. On average, sell-side analysts expect that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current fiscal year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 47.06%.

Insider Transactions at First Financial Bankshares

In other news, CAO Ronald David Butler II sold 15,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $34.95, for a total value of $524,250.00. Following the completion of the sale, the chief accounting officer owned 152,223 shares of the company’s stock, valued at approximately $5,320,193.85. This represents a 8.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Murray Hamilton Edwards acquired 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $33.18 per share, with a total value of $33,180.00. Following the completion of the transaction, the director owned 44,634 shares of the company’s stock, valued at approximately $1,480,956.12. The trade was a 2.29% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 4,700 shares of company stock valued at $161,583 over the last 90 days. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Financial Bankshares

A number of large investors have recently added to or reduced their stakes in FFIN. Waterloo Capital L.P. lifted its position in shares of First Financial Bankshares by 978.4% during the fourth quarter. Waterloo Capital L.P. now owns 68,899 shares of the bank’s stock worth $2,058,000 after purchasing an additional 62,510 shares during the last quarter. Jefferies Financial Group Inc. increased its position in First Financial Bankshares by 283.7% during the 4th quarter. Jefferies Financial Group Inc. now owns 112,781 shares of the bank’s stock valued at $3,369,000 after purchasing an additional 83,385 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in First Financial Bankshares by 3,042,660.3% in 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. Excelsior Advisor Network LLC bought a new position in shares of First Financial Bankshares in the 1st quarter worth $6,903,000. Finally, Fifth Third Bancorp lifted its position in shares of First Financial Bankshares by 5,632.8% during the first quarter. Fifth Third Bancorp now owns 36,346 shares of the bank’s stock valued at $1,070,000 after buying an additional 35,712 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

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.