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

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 firm had revenue of $129.63 million for the quarter, compared to analyst estimates of $129.72 million. During the same period last year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis.

First Financial Bankshares Trading Up 4.2 %

Shares of NASDAQ:FFIN opened at $30.01 on Friday. The company has a 50 day moving average of $31.11 and a 200-day moving average of $28.85. The firm has a market cap of $4.28 billion, a P/E ratio of 21.44 and a beta of 0.82. First Financial Bankshares has a twelve month low of $22.84 and a twelve month high of $33.15.

First Financial Bankshares Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.40%. First Financial Bankshares’s dividend payout ratio (DPR) is 51.43%.

Institutional Investors Weigh In On First Financial Bankshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FFIN. Norges Bank acquired a new position in shares of First Financial Bankshares during the 4th quarter valued at $43,669,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in First Financial Bankshares by 19.4% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,513,355 shares of the bank’s stock worth $112,076,000 after acquiring an additional 570,999 shares during the period. State Street Corp raised its position in First Financial Bankshares by 8.6% in the second quarter. State Street Corp now owns 5,881,523 shares of the bank’s stock worth $168,569,000 after acquiring an additional 468,161 shares in the last quarter. BlackRock Inc. lifted its holdings in First Financial Bankshares by 2.3% in the 2nd 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 last quarter. Finally, Jane Street Group LLC bought a new position in shares of First Financial Bankshares during the 1st quarter valued at about $7,939,000. Institutional investors own 69.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FFIN shares. Stephens dropped their price objective on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday. Keefe, Bruyette & Woods lifted their price target on First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Finally, Truist Financial decreased their price objective on First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating for the company in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, First Financial Bankshares presently has a consensus rating of “Hold” and an average target price 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.