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

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

First Financial Bankshares Trading Up 4.2 %

Shares of FFIN traded up $1.21 during mid-day trading on Friday, reaching $30.01. The company’s stock had a trading volume of 1,110,522 shares, compared to its average volume of 416,267. First Financial Bankshares has a 1-year low of $22.84 and a 1-year high of $33.15. The stock has a market cap of $4.28 billion, a P/E ratio of 21.44 and a beta of 0.82. The business has a 50-day simple moving average of $31.11 and a two-hundred day simple moving average of $28.85.

First Financial Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were given a $0.18 dividend. 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 payout ratio is 51.43%.

Institutional Trading of First Financial Bankshares

Several hedge funds have recently added to or reduced their stakes in FFIN. Clear Street Markets LLC acquired a new stake in First Financial Bankshares during the 4th quarter worth approximately $53,000. KBC Group NV acquired a new stake in First Financial Bankshares during the 4th quarter worth approximately $62,000. Dark Forest Capital Management LP lifted its holdings in First Financial Bankshares by 200.9% during the 1st quarter. Dark Forest Capital Management LP now owns 2,022 shares of the bank’s stock worth $65,000 after purchasing an additional 1,350 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in First Financial Bankshares during the 1st quarter worth approximately $109,000. Finally, US Bancorp DE lifted its holdings in First Financial Bankshares by 33.7% during the 4th quarter. US Bancorp DE now owns 4,003 shares of the bank’s stock worth $121,000 after purchasing an additional 1,009 shares during the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Stephens decreased 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. Finally, Truist Financial decreased their price target on 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. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.