First Financial Bankshares (NASDAQ:FFIN) Issues Earnings Results

First Financial Bankshares (NASDAQ:FFIN) released its quarterly 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 net margin of 31.28% and a return on equity of 14.53%. The business 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 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis.

First Financial Bankshares Trading Up 0.5 %

Shares of FFIN opened at $28.80 on Friday. The business’s 50 day moving average is $31.14 and its 200 day moving average is $28.81. First Financial Bankshares has a 12-month low of $22.84 and a 12-month high of $33.15. The company has a market capitalization of $4.11 billion, a PE ratio of 20.57 and a beta of 0.82.

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 paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Thursday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is 51.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of First Financial Bankshares by 2.3% in the second quarter. BlackRock Inc. now owns 15,408,942 shares of the bank’s stock worth $439,001,000 after buying an additional 339,634 shares in the last quarter. Vanguard Group Inc. grew its position in shares of First Financial Bankshares by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 14,465,552 shares of the bank’s stock valued at $438,306,000 after purchasing an additional 120,252 shares in the last quarter. State Street Corp increased its holdings in shares of 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 purchasing an additional 468,161 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of First Financial Bankshares by 19.4% in 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 buying an additional 570,999 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in First Financial Bankshares by 3.5% during the first quarter. Geode Capital Management LLC now owns 2,680,598 shares of the bank’s stock valued at $85,511,000 after buying an additional 91,704 shares during the last quarter. 69.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FFIN shares. Keefe, Bruyette & Woods raised their target price on First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Stephens upped their price target on First Financial Bankshares from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Finally, Truist Financial lowered their price objective on First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, First Financial Bankshares currently has an average rating of “Hold” and an average target price of $30.75.

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.