First Financial Bankshares (FFIN) Scheduled to Post Quarterly Earnings on Thursday

First Financial Bankshares (NASDAQ:FFIN) will be announcing its earnings results on Thursday, April 18th.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). First Financial Bankshares had a return on equity of 14.53% and a net margin of 31.28%. The company had revenue of $119.49 million for the quarter, compared to analysts’ expectations of $125.09 million. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. On average, analysts expect First Financial Bankshares to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

First Financial Bankshares Trading Down 1.3 %

Shares of FFIN stock traded down $0.37 during trading hours on Wednesday, hitting $28.65. 438,488 shares of the company were exchanged, compared to its average volume of 503,114. The firm has a fifty day simple moving average of $31.23 and a 200 day simple moving average of $28.82. First Financial Bankshares has a 52-week low of $22.84 and a 52-week high of $33.15. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 20.71 and a beta of 0.82.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.51%. The ex-dividend date was Thursday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 51.43%.

Hedge Funds Weigh In On First Financial Bankshares

Large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of First Financial Bankshares in the fourth quarter valued at about $43,669,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of First Financial Bankshares by 19.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,513,355 shares of the bank’s stock valued at $112,076,000 after acquiring an additional 570,999 shares during the period. State Street Corp increased its position in shares of First Financial Bankshares by 8.6% in the second quarter. State Street Corp now owns 5,881,523 shares of the bank’s stock valued at $168,569,000 after acquiring an additional 468,161 shares during the period. BlackRock Inc. increased its position in shares of First Financial Bankshares by 2.3% in the second quarter. BlackRock Inc. now owns 15,408,942 shares of the bank’s stock valued at $439,001,000 after acquiring an additional 339,634 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of First Financial Bankshares in the first quarter valued at about $7,939,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FFIN shares. Keefe, Bruyette & Woods raised their price target on shares of First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Truist Financial lowered their price objective on shares of First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Finally, Stephens lifted their target price on shares of First Financial Bankshares from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, First Financial Bankshares has a consensus rating of “Hold” and an average price target of $30.75.

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.