First Financial Bankshares (NASDAQ:FFIN) Sets New 1-Year Low – Should You Sell?

First Financial Bankshares, Inc. (NASDAQ:FFIN) shares hit a new 52-week low on Monday . The stock traded as low as $30.01 and last traded at $29.8750, with a volume of 273728 shares trading hands. The stock had previously closed at $31.14.

Wall Street Analysts Forecast Growth

FFIN has been the subject of several recent research reports. Cantor Fitzgerald assumed coverage on shares of First Financial Bankshares in a research report on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 target price for the company. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Weiss Ratings reissued a “hold (c)” rating on shares of First Financial Bankshares in a research report on Tuesday, October 14th. Finally, Hovde Group raised First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a research report on Monday, October 27th. 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.com, First Financial Bankshares has an average rating of “Hold” and an average price target of $38.00.

First Financial Bankshares Stock Performance

The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 17.87 and a beta of 0.88. The business’s 50 day moving average is $32.75 and its 200-day moving average is $34.83.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Friday, October 24th. The bank reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). The firm had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.21 million. First Financial Bankshares had a return on equity of 14.16% and a net margin of 29.81%.The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. Equities research analysts forecast that First Financial Bankshares, Inc. will post 1.78 EPS for the current fiscal year.

First Financial Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 15th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 15th. This represents a $0.76 annualized dividend and a yield of 2.5%. First Financial Bankshares’s dividend payout ratio is presently 44.97%.

Insider Activity at First Financial Bankshares

In related news, CFO Michelle S. Hickox bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The shares were acquired at an average price of $31.15 per share, with a total value of $62,300.00. Following the completion of the transaction, the chief financial officer owned 24,461 shares of the company’s stock, valued at $761,960.15. The trade was a 8.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sally Pope Davis bought 1,700 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of $30.73 per share, with a total value of $52,241.00. Following the completion of the purchase, the director owned 6,971 shares in the company, valued at approximately $214,218.83. The trade was a 32.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 4,353 shares of company stock worth $134,888. Company insiders own 4.22% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC grew its holdings in First Financial Bankshares by 2.2% during the 2nd quarter. Ballentine Partners LLC now owns 13,358 shares of the bank’s stock worth $481,000 after acquiring an additional 293 shares during the period. Kingsview Wealth Management LLC boosted its position in shares of First Financial Bankshares by 1.2% in the 3rd quarter. Kingsview Wealth Management LLC now owns 27,059 shares of the bank’s stock worth $911,000 after purchasing an additional 321 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of First Financial Bankshares by 20.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,320 shares of the bank’s stock worth $78,000 after purchasing an additional 392 shares during the last quarter. Covestor Ltd grew its stake in shares of First Financial Bankshares by 14.0% during the third quarter. Covestor Ltd now owns 3,255 shares of the bank’s stock worth $110,000 after purchasing an additional 399 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in First Financial Bankshares by 24.3% in the third quarter. Smartleaf Asset Management LLC now owns 2,064 shares of the bank’s stock valued at $70,000 after purchasing an additional 403 shares during the last quarter. Institutional investors 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.