First Financial Bankshares (NASDAQ:FFIN) Releases Earnings Results, Beats Estimates By $0.02 EPS

First Financial Bankshares (NASDAQ:FFIN) announced its earnings results on Thursday. The bank reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02, Briefing.com reports. The business had revenue of $129.63 million during the quarter, compared to analyst estimates of $129.72 million. First Financial Bankshares had a return on equity of 14.60% and a net margin of 30.03%. First Financial Bankshares’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS.

First Financial Bankshares Trading Up 4.2 %

Shares of First Financial Bankshares stock opened at $30.01 on Friday. The business has a 50-day moving average price of $31.11 and a two-hundred day moving average price of $28.85. First Financial Bankshares has a 1-year low of $22.84 and a 1-year high of $33.15. The company has a market cap of $4.28 billion, a P/E ratio of 21.44 and a beta of 0.82.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.40%. First Financial Bankshares’s payout ratio is currently 51.43%.

Wall Street Analysts Forecast Growth

FFIN has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their target price on First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Truist Financial lowered their target price on First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, April 1st. Finally, Stephens lowered their target price on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.50.

Institutional Trading of First Financial Bankshares

Large investors have recently bought and sold shares of the business. American Century Companies Inc. grew its stake in shares of First Financial Bankshares by 11.1% in the 1st quarter. American Century Companies Inc. now owns 12,923 shares of the bank’s stock valued at $570,000 after buying an additional 1,292 shares during the period. Rhumbline Advisers grew its stake in shares of First Financial Bankshares by 1.9% in the 1st quarter. Rhumbline Advisers now owns 372,458 shares of the bank’s stock valued at $16,433,000 after buying an additional 6,776 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of First Financial Bankshares by 10.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,013 shares of the bank’s stock valued at $2,074,000 after buying an additional 4,500 shares during the period. Great West Life Assurance Co. Can grew its stake in shares of First Financial Bankshares by 8.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 70,082 shares of the bank’s stock valued at $3,177,000 after buying an additional 5,245 shares during the period. Finally, Yousif Capital Management LLC grew its stake in shares of First Financial Bankshares by 2.6% in the 1st quarter. Yousif Capital Management LLC now owns 70,653 shares of the bank’s stock valued at $3,117,000 after buying an additional 1,814 shares during the period. 69.78% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bankshares Company Profile

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.