First Financial Bankshares (NASDAQ:FFIN) Stock Passes Above 200 Day Moving Average – Should You Sell?

First Financial Bankshares, Inc. (NASDAQ:FFIN)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.70 and traded as high as $33.57. First Financial Bankshares shares last traded at $33.50, with a volume of 881,088 shares traded.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods dropped their target price on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a report on Thursday, April 9th. Finally, Benchmark initiated coverage on shares of First Financial Bankshares in a research note on Wednesday. They issued a “buy” rating and a $39.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, First Financial Bankshares presently has an average rating of “Hold” and a consensus target price of $37.75.

First Financial Bankshares Trading Up 2.6%

The business has a 50-day moving average of $32.37 and a two-hundred day moving average of $31.71. The firm has a market cap of $5.01 billion, a P/E ratio of 18.99 and a beta of 0.83.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Friday, April 17th. The bank reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $166.89 million for the quarter, compared to analyst estimates of $166.78 million. First Financial Bankshares had a return on equity of 14.20% and a net margin of 31.00%.During the same period last year, the firm posted $0.43 earnings per share. As a group, equities analysts expect that First Financial Bankshares, Inc. will post 2.04 EPS for the current year.

First Financial Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 12th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, June 12th. This is a positive change from First Financial Bankshares’s previous quarterly dividend of $0.19. First Financial Bankshares’s payout ratio is presently 47.83%.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Murray Hamilton Edwards purchased 1,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $33.18 per share, with a total value of $33,180.00. Following the completion of the purchase, the director owned 44,634 shares of the company’s stock, valued at approximately $1,480,956.12. The trade was a 2.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FFIN. Olistico Wealth LLC bought a new position in shares of First Financial Bankshares during the fourth quarter worth about $30,000. Quarry LP increased its stake in shares of First Financial Bankshares by 66.3% in the 3rd quarter. Quarry LP now owns 1,026 shares of the bank’s stock valued at $35,000 after acquiring an additional 409 shares in the last quarter. Danske Bank A S lifted its position in shares of First Financial Bankshares by 200.0% during the 4th quarter. Danske Bank A S now owns 1,200 shares of the bank’s stock valued at $36,000 after acquiring an additional 800 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of First Financial Bankshares during the 4th quarter valued at $44,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in First Financial Bankshares in the third quarter worth $50,000. 69.78% of the stock is owned by institutional investors.

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.