First Financial Bankshares (NASDAQ:FFIN) Hits New 52-Week Low – Here’s What Happened

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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 given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $38.00.

First Financial Bankshares Trading Down 2.5%

The company has a market cap of $4.09 billion, a price-to-earnings ratio of 16.15 and a beta of 0.83. The business has a 50-day moving average price of $32.10 and a 200 day moving average price of $32.30.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Friday, January 23rd. The bank reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $164.72 million for 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%.First Financial Bankshares’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. On average, analysts anticipate that First Financial Bankshares, Inc. will post 1.78 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.76 dividend on an annualized basis and a yield of 2.7%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 42.94%.

Insider Activity at First Financial Bankshares

In other First Financial Bankshares news, Director Johnny Trotter bought 1,000 shares of the stock in a transaction on Thursday, March 12th. The shares were bought at an average price of $29.26 per share, with a total value of $29,260.00. Following the purchase, the director directly owned 956,444 shares in the company, valued at $27,985,551.44. The trade was a 0.10% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sally Pope Davis bought 1,800 shares of the company’s stock in a transaction dated 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 acquisition, the director directly owned 10,371 shares in the company, valued at $306,151.92. This trade represents a 21.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 21,629 shares of company stock worth $681,060. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On First Financial Bankshares

A number of institutional investors have recently modified their holdings of FFIN. Northwestern Mutual Wealth Management Co. lifted its holdings in First Financial Bankshares by 3,042,660.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 21,512,315 shares of the bank’s stock worth $642,573,000 after purchasing an additional 21,511,608 shares during the last quarter. State Street Corp boosted its holdings in shares of First Financial Bankshares by 1.5% during the 4th quarter. State Street Corp now owns 6,140,759 shares of the bank’s stock worth $184,551,000 after buying an additional 87,988 shares during the period. Geode Capital Management LLC grew its stake in First Financial Bankshares by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,452,051 shares of the bank’s stock valued at $124,218,000 after buying an additional 61,599 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in First Financial Bankshares by 6.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,715,913 shares of the bank’s stock valued at $81,129,000 after acquiring an additional 165,801 shares during the period. Finally, Norges Bank acquired a new stake in shares of First Financial Bankshares in the fourth quarter valued at about $51,227,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Company Profile

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.