First Financial Bankshares (NASDAQ:FFIN) Releases Earnings Results, Hits Expectations

First Financial Bankshares (NASDAQ:FFIN) posted its quarterly earnings data on Thursday. The bank reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52, Zacks reports. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%.

First Financial Bankshares Stock Up 2.3%

FFIN traded up $0.70 during trading on Thursday, hitting $31.59. The company’s stock had a trading volume of 802,481 shares, compared to its average volume of 824,444. The firm has a market capitalization of $4.53 billion, a P/E ratio of 16.89 and a beta of 0.82. First Financial Bankshares has a twelve month low of $28.11 and a twelve month high of $36.52. The stock’s fifty day moving average price is $33.04 and its 200-day moving average price is $32.97.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were paid a $0.22 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.88 annualized dividend and a yield of 2.8%. First Financial Bankshares’s payout ratio is 47.06%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FFIN shares. Weiss Ratings downgraded shares of First Financial Bankshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, September 25th. Benchmark assumed coverage on shares of First Financial Bankshares in a research report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price target on the stock. Raymond James Financial assumed coverage on shares of First Financial Bankshares in a research report on Wednesday. They set a “market perform” rating on the stock. Seaport Research Partners upgraded First Financial Bankshares to a “buy” rating in a report on Wednesday. Finally, Piper Sandler assumed coverage on First Financial Bankshares in a report on Thursday, August 27th. They set a “neutral” rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, First Financial Bankshares presently has an average rating of “Hold” and a consensus target price of $35.60.

Insider Activity at First Financial Bankshares

In related news, CAO Ronald David Butler II sold 15,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $34.95, for a total transaction of $524,250.00. Following the transaction, the chief accounting officer owned 152,223 shares in the company, valued at $5,320,193.85. The trade was a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael B. Denny bought 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average price of $34.66 per share, for a total transaction of $103,980.00. Following the transaction, the director directly owned 6,500 shares in the company, valued at $225,290. This trade represents a 85.71% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.80% of the company’s stock.

About First Financial Bankshares

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, online and mobile banking, and other deposit products. The company also provides trust, wealth-management and investment-related services through affiliated operations.

First Financial Bankshares traces its history to 1890 and serves communities across Texas through a network of banking locations.