First Financial Bankshares (NASDAQ:FFIN) Hits New 1-Year Low – Here’s What Happened

First Financial Bankshares, Inc. (NASDAQ:FFIN)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $28.89 and last traded at $29.31, with a volume of 62711 shares. The stock had previously closed at $30.30.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of First Financial Bankshares in a research note 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’s stock. According to MarketBeat.com, First Financial Bankshares presently has a consensus rating of “Hold” and a consensus price target of $38.00.

First Financial Bankshares Stock Down 0.7%

The firm has a market capitalization of $4.31 billion, a P/E ratio of 16.99 and a beta of 0.83. The company’s 50 day moving average is $32.19 and its 200-day moving average is $32.68.

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

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, March 13th. First Financial Bankshares’s dividend payout ratio is 42.94%.

Insider Buying and Selling at First Financial Bankshares

In other First Financial Bankshares news, Director Johnny Trotter bought 4,000 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was purchased at an average cost of $30.02 per share, with a total value of $120,080.00. Following the transaction, the director directly owned 955,444 shares in the company, valued at $28,682,428.88. This trade represents a 0.42% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Geoff Haney bought 10,200 shares of the stock in a transaction dated Friday, February 20th. The shares were acquired at an average price of $33.18 per share, for a total transaction of $338,436.00. Following the completion of the purchase, the director directly owned 32,146 shares in the company, valued at approximately $1,066,604.28. This trade represents a 46.48% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 15,329 shares of company stock valued at $496,074. Insiders own 4.22% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of First Financial Bankshares by 3,042,660.3% during 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. Norges Bank bought a new position in First Financial Bankshares during the fourth quarter valued at $51,227,000. Millennium Management LLC increased its position in First Financial Bankshares by 4,145.8% in the fourth quarter. Millennium Management LLC now owns 1,709,631 shares of the bank’s stock worth $51,067,000 after buying an additional 1,669,365 shares during the last quarter. Invesco Ltd. increased its position in First Financial Bankshares by 170.9% in the second quarter. Invesco Ltd. now owns 1,101,028 shares of the bank’s stock worth $39,615,000 after buying an additional 694,534 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in shares of First Financial Bankshares by 460.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 503,246 shares of the bank’s stock valued at $15,032,000 after buying an additional 413,376 shares during the period. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

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.