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

First Financial Bankshares (NASDAQ:FFIN) released its quarterly earnings results on Thursday. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02, Briefing.com reports. First Financial Bankshares had a net margin of 31.28% and a return on equity of 14.53%. The company had revenue of $129.63 million during the quarter, compared to analysts’ expectations of $129.72 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year.

First Financial Bankshares Trading Up 1.4 %

Shares of NASDAQ FFIN opened at $29.19 on Friday. The business’s 50 day moving average is $31.14 and its 200-day moving average is $28.81. The firm has a market cap of $4.17 billion, a P/E ratio of 20.57 and a beta of 0.82. First Financial Bankshares has a 1-year low of $22.84 and a 1-year high of $33.15.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Thursday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is presently 51.43%.

Institutional Investors Weigh In On First Financial Bankshares

A number of hedge funds and other institutional investors have recently modified their holdings of FFIN. American Century Companies Inc. increased its position in First Financial Bankshares by 11.1% during the first quarter. American Century Companies Inc. now owns 12,923 shares of the bank’s stock worth $570,000 after acquiring an additional 1,292 shares during the period. Rhumbline Advisers lifted its holdings in shares of First Financial Bankshares by 1.9% in the first quarter. Rhumbline Advisers now owns 372,458 shares of the bank’s stock worth $16,433,000 after acquiring an additional 6,776 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted 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 purchasing an additional 4,500 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of First Financial Bankshares by 8.1% during 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 purchasing an additional 5,245 shares during the last quarter. Finally, Yousif Capital Management LLC increased its position in First Financial Bankshares by 2.6% during the 1st quarter. Yousif Capital Management LLC now owns 70,653 shares of the bank’s stock worth $3,117,000 after purchasing an additional 1,814 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analyst Ratings Changes

FFIN has been the subject of several recent research reports. Stephens upped their price objective on 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. Truist Financial decreased their price target on shares of First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of 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. One equities research 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, First Financial Bankshares presently has a consensus rating of “Hold” and a consensus target price 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.