First Financial Bankshares (NASDAQ:FFIN) Sets New 52-Week High at $40.78

Shares of First Financial Bankshares, Inc. (NASDAQ:FFIN) hit a new 52-week high during trading on Friday . The company traded as high as $40.78 and last traded at $40.78, with a volume of 164 shares traded. The stock had previously closed at $38.84.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial raised their target price on First Financial Bankshares from $31.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Stephens boosted their price objective on First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th.

First Financial Bankshares Price Performance

The company has a market capitalization of $5.83 billion, a price-to-earnings ratio of 27.74 and a beta of 0.78. The firm has a 50-day moving average price of $35.93 and a two-hundred day moving average price of $32.19.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. The business had revenue of $184.94 million during the quarter, compared to the consensus estimate of $134.10 million. On average, equities analysts predict that First Financial Bankshares, Inc. will post 1.52 EPS for the current year.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Thursday, September 12th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.72 annualized dividend and a yield of 1.77%. First Financial Bankshares’s payout ratio is presently 51.43%.

Institutional Trading of First Financial Bankshares

Large investors have recently added to or reduced their stakes in the company. First Financial Bankshares Inc acquired a new position in shares of First Financial Bankshares during the 4th quarter worth approximately $553,577,000. Vanguard Group Inc. boosted its position in First Financial Bankshares by 3.4% during the first quarter. Vanguard Group Inc. now owns 14,956,322 shares of the bank’s stock worth $490,717,000 after purchasing an additional 490,770 shares during the period. Champlain Investment Partners LLC increased its holdings in shares of First Financial Bankshares by 27.6% in the first quarter. Champlain Investment Partners LLC now owns 3,334,349 shares of the bank’s stock valued at $109,400,000 after purchasing an additional 720,820 shares during the last quarter. Strategic Financial Concepts LLC raised its position in shares of First Financial Bankshares by 3,632.9% in the second quarter. Strategic Financial Concepts LLC now owns 2,992,894 shares of the bank’s stock valued at $884,000 after purchasing an additional 2,912,718 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of First Financial Bankshares by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,556,205 shares of the bank’s stock worth $75,482,000 after buying an additional 130,361 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

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.