First Financial Bankshares (NASDAQ:FFIN) Announces Earnings Results, Beats Expectations By $0.03 EPS

First Financial Bankshares (NASDAQ:FFIN) released its quarterly earnings results on Thursday. The bank reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03, Zacks reports. The company had revenue of $166.89 million for the quarter, compared to the consensus estimate of $166.78 million. First Financial Bankshares had a net margin of 30.43% and a return on equity of 14.16%. During the same quarter in the prior year, the firm earned $0.43 earnings per share.

First Financial Bankshares Trading Down 0.6%

Shares of FFIN opened at $30.96 on Friday. First Financial Bankshares has a twelve month low of $28.11 and a twelve month high of $38.74. The company has a market cap of $4.43 billion, a P/E ratio of 17.49 and a beta of 0.82. The company’s fifty day simple moving average is $31.07 and its 200-day simple moving average is $31.49.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. First Financial Bankshares’s dividend payout ratio is currently 42.94%.

Insiders Place Their Bets

In other news, Director Murray Hamilton Edwards bought 1,000 shares of First Financial Bankshares stock in a transaction dated Friday, March 13th. The shares were acquired at an average price of $29.32 per share, with a total value of $29,320.00. Following the completion of the purchase, the director owned 43,634 shares in the company, valued at $1,279,348.88. The trade was a 2.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michelle S. Hickox bought 1,000 shares of First Financial Bankshares stock in a transaction dated Monday, March 9th. The stock was purchased at an average cost of $29.50 per share, for a total transaction of $29,500.00. Following the purchase, the chief financial officer owned 11,861 shares of the company’s stock, valued at approximately $349,899.50. This trade represents a 9.21% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 21,629 shares of company stock valued at $681,060. 3.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FFIN. Millennium Management LLC grew its holdings in shares of First Financial Bankshares by 4,145.8% in the fourth quarter. Millennium Management LLC now owns 1,709,631 shares of the bank’s stock worth $51,067,000 after purchasing an additional 1,669,365 shares during the last quarter. Invesco Ltd. grew its holdings in shares of First Financial Bankshares by 170.9% in the second quarter. Invesco Ltd. now owns 1,101,028 shares of the bank’s stock worth $39,615,000 after purchasing an additional 694,534 shares during the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of First Financial Bankshares by 460.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 503,246 shares of the bank’s stock worth $15,032,000 after purchasing an additional 413,376 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of First Financial Bankshares by 314.0% in the second quarter. AQR Capital Management LLC now owns 490,284 shares of the bank’s stock worth $17,640,000 after purchasing an additional 371,847 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of First Financial Bankshares by 31.8% in the third quarter. Bank of America Corp DE now owns 1,290,749 shares of the bank’s stock worth $43,434,000 after purchasing an additional 311,628 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FFIN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods decreased their price target on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating on the stock in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $37.33.

About First Financial Bankshares

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.