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

First Financial Bankshares, Inc. (NASDAQ:FFIN) crossed 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 trading hands.

Analyst Ratings Changes

Several research analysts have commented on the stock. Keefe, Bruyette & Woods decreased their target price 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. Hovde Group raised shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a research note on Monday, October 27th. 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $38.00.

First Financial Bankshares Price Performance

The company has a fifty day simple moving average of $31.96 and a two-hundred day simple moving average of $33.00. The company has a market capitalization of $4.79 billion, a P/E ratio of 18.92 and a beta of 0.86.

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

First Financial Bankshares Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new stake in First Financial Bankshares during the fourth quarter valued at about $115,000. Marshall Wace LLP bought a new position in First Financial Bankshares in the 4th quarter worth approximately $5,894,000. Walleye Capital LLC acquired a new position in shares of First Financial Bankshares during the fourth quarter worth approximately $1,872,000. State Street Corp boosted its position in shares of First Financial Bankshares by 1.5% in the fourth quarter. State Street Corp now owns 6,140,759 shares of the bank’s stock valued at $184,551,000 after acquiring an additional 87,988 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of First Financial Bankshares by 8.0% in the fourth quarter. Wells Fargo & Company MN now owns 621,431 shares of the bank’s stock worth $18,562,000 after acquiring an additional 45,931 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bankshares Company Profile

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.