First Financial Bankshares (NASDAQ:FFIN) Posts Quarterly Earnings Results, Beats Estimates 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, topping analysts’ consensus estimates of $0.35 by $0.02, Briefing.com reports. First Financial Bankshares had a return on equity of 14.60% and a net margin of 30.03%. The business had revenue of $129.63 million during the quarter, compared to analysts’ expectations of $129.72 million. During the same period in the previous year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year.

First Financial Bankshares Stock Performance

NASDAQ FFIN opened at $30.01 on Friday. First Financial Bankshares has a 52-week low of $22.84 and a 52-week high of $33.15. The business has a 50 day simple moving average of $31.11 and a 200 day simple moving average of $28.85. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 21.44 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. 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 annualized dividend and a dividend yield of 2.40%. First Financial Bankshares’s dividend payout ratio is presently 51.43%.

Analyst Ratings Changes

A number of equities analysts have issued reports on FFIN shares. Truist Financial reduced their target price on First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Keefe, Bruyette & Woods lifted their price objective on shares of 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. Finally, Stephens lowered their target price on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors raised its holdings in shares of First Financial Bankshares by 3.9% during the fourth quarter. Captrust Financial Advisors now owns 8,691 shares of the bank’s stock worth $299,000 after acquiring an additional 328 shares during the period. Creative Planning raised its stake in shares of First Financial Bankshares by 4.9% in the 2nd quarter. Creative Planning now owns 8,114 shares of the bank’s stock valued at $319,000 after purchasing an additional 380 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of First Financial Bankshares by 2.7% in the fourth quarter. Cetera Advisor Networks LLC now owns 17,232 shares of the bank’s stock valued at $522,000 after purchasing an additional 461 shares in the last quarter. First Republic Investment Management Inc. boosted its position in shares of First Financial Bankshares by 2.3% during the first quarter. First Republic Investment Management Inc. now owns 23,353 shares of the bank’s stock worth $745,000 after buying an additional 526 shares during the period. Finally, Retirement Systems of Alabama grew its holdings in shares of First Financial Bankshares by 0.4% during the third quarter. Retirement Systems of Alabama now owns 169,820 shares of the bank’s stock worth $7,104,000 after buying an additional 614 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

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.