First Financial Bankshares (NASDAQ:FFIN) Sets New 12-Month High – Here’s What Happened

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

Analysts Set New Price Targets

FFIN has been the subject of a number of research analyst reports. Stephens lifted their target price on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Hovde Group boosted their target price on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Finally, Truist Financial boosted their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th.

First Financial Bankshares Stock Up 12.2 %

The firm has a market cap of $5.89 billion, a PE ratio of 28.25 and a beta of 0.78. The business has a 50-day moving average price of $36.74 and a two-hundred day moving average price of $33.56.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.72 dividend on an annualized basis and a yield of 1.75%. First Financial Bankshares’s dividend payout ratio (DPR) is presently 49.66%.

Institutional Trading of First Financial Bankshares

A number of hedge funds have recently bought and sold shares of FFIN. Signaturefd LLC increased its position in shares of First Financial Bankshares by 5.0% in the 2nd 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 increased its stake in First Financial Bankshares by 6.0% in the 2nd quarter. Crewe Advisors LLC now owns 5,265 shares of the bank’s stock valued at $155,000 after buying an additional 296 shares during the period. Ballentine Partners LLC grew its position in First Financial Bankshares by 2.8% in the third quarter. Ballentine Partners LLC now owns 12,190 shares of the bank’s stock worth $451,000 after acquiring an additional 333 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings 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 purchasing an additional 544 shares during the period. Finally, Huntington National Bank raised its stake in shares of First Financial Bankshares by 32.2% in the 3rd quarter. Huntington National Bank now owns 2,369 shares of the bank’s stock valued at $88,000 after buying an additional 577 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

First Financial Bankshares Company Profile

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.