First Financial Bankshares (NASDAQ:FFIN) Stock Price Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• First Financial Bankshares shares crossed above their 200-day moving average, trading as high as $33.65 and last changing hands at $33.07, while remaining below the 50-day average of $34.64.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $36.40; targets range from $35 to $39.
• The bank met quarterly EPS expectations at $0.50, announced a quarterly dividend of $0.22 per share yielding about 2.7%, and saw significant institutional ownership at 69.78%, alongside mixed insider buying and selling.

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $32.69 and traded as high as $33.65. First Financial Bankshares shares last traded at $33.07, with a volume of 567,255 shares changing hands.

Analyst Ratings Changes

Several research firms have recently weighed in on FFIN. Benchmark started coverage on shares of First Financial Bankshares in a report on Wednesday, June 24th. They issued a "buy" rating and a $39.00 target price on the stock. Piper Sandler initiated coverage on shares of First Financial Bankshares in a research report on Thursday. They issued a "neutral" rating and a $35.00 price target on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $35.00 price objective (up from $34.00) on shares of First Financial Bankshares in a research note on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of First Financial Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, First Financial Bankshares presently has a consensus rating of "Moderate Buy" and an average price target of $36.40.

First Financial Bankshares Stock Down 1.8%

The company has a market cap of $4.74 billion, a P/E ratio of 17.68 and a beta of 0.81. The firm has a fifty day moving average price of $34.64 and a 200 day moving average price of $32.69.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings results on Friday, July 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.50. The business had revenue of $172.76 million during the quarter, compared to analysts' expectations of $173.03 million. First Financial Bankshares had a return on equity of 14.00% and a net margin of 31.03%.During the same period in the previous year, the business posted $0.47 earnings per share. On average, sell-side analysts anticipate that First Financial Bankshares, Inc. will post 2.04 earnings per share for the current year.

First Financial Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.7%. First Financial Bankshares's payout ratio is currently 47.06%.

Insiders Place Their Bets

In other news, CAO Ronald David Butler II sold 15,000 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $34.95, for a total transaction of $524,250.00. Following the transaction, the chief accounting officer directly owned 152,223 shares in the company, valued at approximately $5,320,193.85. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael B. Denny purchased 3,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were bought at an average cost of $34.66 per share, for a total transaction of $103,980.00. Following the completion of the purchase, the director directly owned 6,500 shares of the company's stock, valued at $225,290. The trade was a 85.71% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 4,700 shares of company stock valued at $161,583. Insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FFIN. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of First Financial Bankshares in the 2nd quarter valued at $280,000. California State Teachers Retirement System lifted its stake in shares of First Financial Bankshares by 3,690.2% during the second quarter. California State Teachers Retirement System now owns 5,094,400 shares of the bank's stock valued at $176,266,000 after acquiring an additional 4,959,991 shares during the period. Ameritas Advisory Services LLC bought a new position in First Financial Bankshares in the second quarter valued at about $579,000. HB Wealth Management LLC bought a new position in First Financial Bankshares in the second quarter valued at about $248,000. Finally, Nykredit A S acquired a new stake in First Financial Bankshares in the second quarter worth about $97,000. 69.78% of the stock is currently owned by institutional investors.

About First Financial Bankshares

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.

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