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 during trading on Thursday . The stock traded as low as $28.54 and last traded at $29.4720, with a volume of 74298 shares trading hands. The stock had previously closed at $29.88.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.00.

First Financial Bankshares Price Performance

The business has a 50 day simple moving average of $32.17 and a 200 day simple moving average of $32.48. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 16.70 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings data on Friday, January 23rd. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $164.72 million during 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%.The company’s revenue 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, equities research analysts predict that First Financial Bankshares, Inc. will post 1.78 EPS for the current year.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, March 13th. First Financial Bankshares’s dividend payout ratio (DPR) is 42.94%.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Johnny Trotter purchased 4,000 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were bought at an average cost of $30.02 per share, for a total transaction of $120,080.00. Following the completion of the purchase, the director directly owned 955,444 shares of the company’s stock, valued at approximately $28,682,428.88. This trade represents a 0.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michelle S. Hickox purchased 1,000 shares of the business’s stock in a transaction on Monday, March 9th. The shares were acquired at an average price of $29.50 per share, for a total transaction of $29,500.00. Following the completion of the purchase, the chief financial officer directly owned 11,861 shares of the company’s stock, valued at approximately $349,899.50. This trade represents a 9.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 20,629 shares of company stock valued at $651,740. 4.22% of the stock is owned by insiders.

Institutional Investors Weigh In On First Financial Bankshares

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in shares of First Financial Bankshares by 10.8% during the first quarter. Royal Bank of Canada now owns 64,287 shares of the bank’s stock worth $2,309,000 after acquiring an additional 6,290 shares during the period. AQR Capital Management LLC raised its stake in shares of First Financial Bankshares by 51.3% in the first quarter. AQR Capital Management LLC now owns 118,437 shares of the bank’s stock valued at $4,228,000 after acquiring an additional 40,173 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in First Financial Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,474 shares of the bank’s stock valued at $2,783,000 after purchasing an additional 3,382 shares during the period. Empowered Funds LLC purchased a new position in First Financial Bankshares in the first quarter valued at $1,760,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in First Financial Bankshares by 17.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 396,513 shares of the bank’s stock worth $14,243,000 after purchasing an additional 59,416 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

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.