First Financial Bankshares, Inc. (NASDAQ:FFIN) Expected to Post Quarterly Sales of $128.97 Million

Equities research analysts expect First Financial Bankshares, Inc. (NASDAQ:FFIN) to report sales of $128.97 million for the current quarter, Zacks reports. Three analysts have issued estimates for First Financial Bankshares’ earnings, with estimates ranging from $127.10 million to $130.80 million. First Financial Bankshares posted sales of $130.96 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.5%. The company is scheduled to issue its next earnings report on Thursday, October 28th.

On average, analysts expect that First Financial Bankshares will report full year sales of $510.87 million for the current fiscal year, with estimates ranging from $501.60 million to $518.90 million. For the next year, analysts forecast that the company will post 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 sell-side analysts that follow First Financial Bankshares.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Monday, July 26th. The bank reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $129.26 million during the quarter, compared to the consensus estimate of $128.60 million. First Financial Bankshares had a return on equity of 13.44% and a net margin of 43.97%.

A number of equities research analysts have commented on the company. Zacks Investment Research cut First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Thursday, September 9th. Stephens reiterated an “equal weight” rating and set a $47.76 target price (up previously from $47.00) on shares of First Financial Bankshares in a report on Tuesday, July 27th. Finally, Janney Montgomery Scott started coverage on First Financial Bankshares in a report on Tuesday, August 31st. They set a “neutral” rating and a $50.00 target price on the stock.

In other news, Director Johnny Trotter bought 2,500 shares of First Financial Bankshares stock in a transaction that occurred on Tuesday, September 14th. The shares were purchased at an average price of $43.68 per share, for a total transaction of $109,200.00. Following the completion of the acquisition, the director now owns 869,793 shares of the company’s stock, valued at $37,992,558.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael B. Denny bought 2,040 shares of First Financial Bankshares stock in a transaction that occurred on Wednesday, July 28th. The stock was purchased at an average price of $48.75 per share, for a total transaction of $99,450.00. Following the acquisition, the director now directly owns 5,341 shares of the company’s stock, valued at approximately $260,373.75. The disclosure for this purchase can be found here. Insiders have bought 10,846 shares of company stock worth $504,709 in the last 90 days. Insiders own 4.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Neuberger Berman Group LLC raised its position in First Financial Bankshares by 0.3% in the first quarter. Neuberger Berman Group LLC now owns 5,197,562 shares of the bank’s stock valued at $240,924,000 after purchasing an additional 17,141 shares during the period. Swiss National Bank increased its position in shares of First Financial Bankshares by 2.0% during the second quarter. Swiss National Bank now owns 297,900 shares of the bank’s stock worth $14,636,000 after acquiring an additional 5,700 shares during the last quarter. State of Tennessee Treasury Department increased its position in shares of First Financial Bankshares by 38.9% during the first quarter. State of Tennessee Treasury Department now owns 149,272 shares of the bank’s stock worth $6,975,000 after acquiring an additional 41,779 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of First Financial Bankshares by 13.9% during the first quarter. Principal Financial Group Inc. now owns 506,896 shares of the bank’s stock worth $23,687,000 after acquiring an additional 61,776 shares during the last quarter. Finally, GWM Advisors LLC increased its position in shares of First Financial Bankshares by 1.3% during the second quarter. GWM Advisors LLC now owns 38,603 shares of the bank’s stock worth $1,897,000 after acquiring an additional 489 shares during the last quarter. 53.68% of the stock is currently owned by institutional investors.

NASDAQ:FFIN traded down $0.10 during trading hours on Friday, reaching $44.97. 484,275 shares of the company traded hands, compared to its average volume of 484,804. The firm’s 50-day moving average is $47.18 and its 200-day moving average is $48.32. The stock has a market cap of $6.40 billion, a P/E ratio of 28.64 and a beta of 0.88. First Financial Bankshares has a 1-year low of $26.71 and a 1-year high of $52.49.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Thursday, September 16th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Wednesday, September 15th. First Financial Bankshares’s dividend payout ratio (DPR) is 42.25%.

First Financial Bankshares Company Profile

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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Earnings History and Estimates for First Financial Bankshares (NASDAQ:FFIN)

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