First Financial Bankshares (NASDAQ:FFIN) Sets New 12-Month High at $40.78

First Financial Bankshares, Inc. (NASDAQ:FFIN) hit a new 52-week high during trading on Friday . The stock traded as high as $40.78 and last traded at $40.78, with a volume of 164 shares trading hands. The stock had previously closed at $38.84.

Analysts Set New Price Targets

FFIN has been the subject of a number of recent analyst reports. Truist Financial increased their price target on First Financial Bankshares from $31.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Stephens lifted their target price on shares of First Financial Bankshares from $31.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th.

First Financial Bankshares Stock Performance

The company has a market capitalization of $5.83 billion, a P/E ratio of 27.74 and a beta of 0.78. The company has a 50-day simple moving average of $35.93 and a 200 day simple moving average of $32.19.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. First Financial Bankshares had a net margin of 29.13% and a return on equity of 14.01%. The business had revenue of $184.94 million for the quarter, compared to analyst estimates of $134.10 million. As a group, sell-side analysts forecast that First Financial Bankshares, Inc. will post 1.52 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, September 12th. First Financial Bankshares’s payout ratio is 51.43%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Olistico Wealth LLC bought a new position in shares of First Financial Bankshares in the second quarter valued at approximately $29,000. Hexagon Capital Partners LLC raised its position in First Financial Bankshares by 81.1% in the 1st quarter. Hexagon Capital Partners LLC now owns 927 shares of the bank’s stock valued at $30,000 after purchasing an additional 415 shares during the last quarter. Neo Ivy Capital Management acquired a new position in First Financial Bankshares in the second quarter worth $41,000. Quarry LP bought a new stake in shares of First Financial Bankshares during the second quarter worth $83,000. Finally, SYSTM Wealth Solutions LLC increased its stake in shares of First Financial Bankshares by 17.4% in the first quarter. SYSTM Wealth Solutions LLC now owns 2,681 shares of the bank’s stock valued at $88,000 after buying an additional 398 shares in the last quarter. 69.78% of the stock is owned by institutional investors.

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.