First Financial Bankshares (NASDAQ:FFIN) Sets New 1-Year High – What’s Next?

First Financial Bankshares, Inc. (NASDAQ:FFIN)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $40.43 and last traded at $39.94, with a volume of 38046 shares changing hands. The stock had previously closed at $36.74.

Analysts Set New Price Targets

Several equities research analysts recently commented on FFIN shares. Stephens lifted their price target on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Truist Financial raised their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, Hovde Group boosted their target price on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a report on Monday, October 21st.

First Financial Bankshares Trading Down 2.7 %

The business’s fifty day moving average price is $36.86 and its 200 day moving average price is $33.61. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of 28.17 and a beta of 0.78.

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.76%. First Financial Bankshares’s payout ratio is 49.66%.

Institutional Investors Weigh In On First Financial Bankshares

Several hedge funds have recently made changes to their positions in the business. Lindenwold Advisors INC raised its stake in First Financial Bankshares by 2.8% during the 3rd quarter. Lindenwold Advisors INC now owns 9,091 shares of the bank’s stock valued at $336,000 after acquiring an additional 250 shares during the last quarter. Signaturefd LLC raised its stake in shares of First Financial Bankshares by 5.0% during the second quarter. Signaturefd LLC now owns 5,637 shares of the bank’s stock worth $166,000 after purchasing an additional 270 shares during the last quarter. Crewe Advisors LLC lifted its holdings in shares of First Financial Bankshares by 6.0% during the second quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock worth $155,000 after purchasing an additional 296 shares during the period. Ballentine Partners LLC grew its position in First Financial Bankshares by 2.8% in the 3rd quarter. Ballentine Partners LLC now owns 12,190 shares of the bank’s stock valued at $451,000 after buying an additional 333 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its stake in First Financial Bankshares by 2.2% in the 1st quarter. Kingsview Wealth Management LLC now owns 24,750 shares of the bank’s stock valued at $812,000 after buying an additional 544 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.

About First Financial Bankshares

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.