First Financial Bankshares (NASDAQ:FFIN) Stock Passes Above 200-Day Moving Average – Here’s What Happened

First Financial Bankshares, Inc. (NASDAQ:FFIN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $33.00 and traded as high as $33.72. First Financial Bankshares shares last traded at $33.48, with a volume of 468,055 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently commented on FFIN. Hovde Group upgraded First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a report on Monday, October 27th. Keefe, Bruyette & Woods decreased their target price on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a report on Friday, October 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a report on Friday, January 9th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, First Financial Bankshares currently has a consensus rating of “Hold” and an average price target of $38.00.

First Financial Bankshares Price Performance

The business’s 50-day moving average price is $31.96 and its two-hundred day moving average price is $33.00. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 18.92 and a beta of 0.86.

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

First Financial Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued 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 2.3%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 42.94%.

Institutional Trading of First Financial Bankshares

A number of large investors have recently modified their holdings of FFIN. HHM Wealth Advisors LLC bought a new position in First Financial Bankshares in the 3rd quarter worth approximately $25,000. Corsicana & Co. bought a new stake in First Financial Bankshares during the third quarter worth approximately $27,000. Olistico Wealth LLC bought a new position in shares of First Financial Bankshares in the fourth quarter valued at $30,000. Quarry LP lifted its position in shares of First Financial Bankshares by 66.3% during the 3rd quarter. Quarry LP now owns 1,026 shares of the bank’s stock valued at $35,000 after acquiring an additional 409 shares during the last quarter. Finally, Danske Bank A S boosted its stake in shares of First Financial Bankshares by 200.0% during the 4th quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock worth $36,000 after acquiring an additional 800 shares in 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.