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

First Financial Bankshares (NASDAQ:FFIN) announced its quarterly earnings data on Thursday. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02, Briefing.com reports. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.60%. The firm had revenue of $129.63 million for the quarter, compared to the consensus estimate of $129.72 million. During the same period last year, the firm earned $0.39 EPS. The company’s revenue was up 4.3% on a year-over-year basis.

First Financial Bankshares Trading Up 4.2 %

Shares of First Financial Bankshares stock opened at $30.01 on Friday. First Financial Bankshares has a 12 month low of $22.84 and a 12 month high of $33.15. The stock 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 PE ratio of 21.44 and a beta of 0.82.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.18 dividend. The ex-dividend date 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 is currently 51.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FFIN shares. Stephens cut their price target on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday. Truist Financial decreased their target price on First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods upped their price target on First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. One research 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 stock presently has an average rating of “Hold” and an average price target of $30.50.

Institutional Trading of First Financial Bankshares

Several hedge funds have recently modified their holdings of FFIN. American Century Companies Inc. increased its position in First Financial Bankshares by 11.1% in the first quarter. American Century Companies Inc. now owns 12,923 shares of the bank’s stock worth $570,000 after purchasing an additional 1,292 shares during the last quarter. Rhumbline Advisers raised its position in shares of First Financial Bankshares by 1.9% during the 1st quarter. Rhumbline Advisers now owns 372,458 shares of the bank’s stock valued at $16,433,000 after buying an additional 6,776 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings 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 acquiring an additional 4,500 shares during the last quarter. Great West Life Assurance Co. Can grew its position in First Financial Bankshares by 8.1% in the first quarter. Great West Life Assurance Co. Can now owns 70,082 shares of the bank’s stock worth $3,177,000 after acquiring an additional 5,245 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in First Financial Bankshares by 2.6% during the first quarter. Yousif Capital Management LLC now owns 70,653 shares of the bank’s stock worth $3,117,000 after acquiring an additional 1,814 shares during the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.

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.