First Financial Bankshares (NASDAQ:FFIN) Announces Quarterly Earnings Results

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

First Financial Bankshares Stock Up 4.2 %

FFIN opened at $30.01 on Friday. The firm has a market capitalization of $4.28 billion, a P/E ratio of 21.44 and a beta of 0.82. The stock’s 50 day moving average price is $31.11 and its two-hundred day moving average price is $28.85. First Financial Bankshares has a 12-month low of $22.84 and a 12-month high of $33.15.

First Financial Bankshares Announces Dividend

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

Institutional Trading of First Financial Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Guggenheim Capital LLC lifted its position in shares of First Financial Bankshares by 42.1% in the 2nd quarter. Guggenheim Capital LLC now owns 9,252 shares of the bank’s stock worth $264,000 after acquiring an additional 2,742 shares during the period. Bridgefront Capital LLC bought a new stake in shares of First Financial Bankshares in the 1st quarter worth approximately $258,000. Amundi bought a new stake in shares of First Financial Bankshares in the 4th quarter worth approximately $236,000. Pathstone Holdings LLC bought a new stake in shares of First Financial Bankshares in the 4th quarter worth approximately $235,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of First Financial Bankshares in the 1st quarter worth approximately $234,000. Institutional investors and hedge funds own 69.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FFIN shares. Stephens dropped their target price on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods upped 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. Finally, Truist Financial lowered their price objective on First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, April 1st. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $30.50.

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.