Equities research analysts expect that First Financial Bankshares, Inc. (NASDAQ:FFIN) will announce sales of $128.97 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for First Financial Bankshares’ earnings, with the lowest sales estimate coming in at $127.10 million and the highest estimate coming in at $130.80 million. First Financial Bankshares reported sales of $130.96 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.5%. The business is expected to report its next quarterly earnings report on Thursday, October 28th.
According to Zacks, analysts expect that First Financial Bankshares will report full year sales of $510.87 million for the current financial year, with estimates ranging from $501.60 million to $518.90 million. For the next financial year, analysts forecast that the business will report sales of $508.60 million, with estimates ranging from $483.60 million to $531.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow First Financial Bankshares.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Monday, July 26th. The bank reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. First Financial Bankshares had a net margin of 43.97% and a return on equity of 13.44%. The company had revenue of $129.26 million during the quarter, compared to the consensus estimate of $128.60 million.
In related news, Director Michael B. Denny bought 2,040 shares of the company’s stock in a transaction on Wednesday, July 28th. The shares were purchased at an average cost of $48.75 per share, with a total value of $99,450.00. Following the completion of the transaction, the director now directly owns 5,341 shares of the company’s stock, valued at $260,373.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Johnny Trotter bought 1,500 shares of the company’s stock in a transaction on Thursday, August 19th. The stock was bought at an average cost of $47.48 per share, for a total transaction of $71,220.00. Following the completion of the transaction, the director now directly owns 860,793 shares of the company’s stock, valued at $40,870,451.64. The disclosure for this purchase can be found here. Insiders acquired 10,846 shares of company stock worth $504,709 over the last ninety days. 4.20% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Ardevora Asset Management LLP purchased a new stake in shares of First Financial Bankshares during the 2nd quarter worth about $59,703,000. State Street Corp raised its stake in shares of First Financial Bankshares by 12.8% during the 2nd quarter. State Street Corp now owns 6,116,084 shares of the bank’s stock worth $301,323,000 after purchasing an additional 691,683 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of First Financial Bankshares by 26.2% in the 1st quarter. Alliancebernstein L.P. now owns 2,806,352 shares of the bank’s stock valued at $131,141,000 after acquiring an additional 583,221 shares in the last quarter. BlackRock Inc. raised its stake in shares of First Financial Bankshares by 3.3% in the 1st quarter. BlackRock Inc. now owns 16,063,239 shares of the bank’s stock valued at $750,637,000 after acquiring an additional 510,582 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of First Financial Bankshares in the 2nd quarter valued at approximately $22,996,000. Institutional investors and hedge funds own 53.68% of the company’s stock.
FFIN traded up $1.15 on Friday, reaching $45.07. 464,801 shares of the company’s stock were exchanged, compared to its average volume of 484,807. The company’s 50 day moving average is $47.33 and its 200-day moving average is $48.36. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 27.97 and a beta of 0.88. First Financial Bankshares has a twelve month low of $26.71 and a twelve month high of $52.49.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Thursday, September 16th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.33%. The ex-dividend date is Wednesday, September 15th. First Financial Bankshares’s dividend payout ratio is presently 42.25%.
About First Financial Bankshares
First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.
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