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

First Financial Bankshares (NASDAQ:FFINGet Rating) released its quarterly earnings results on Thursday. The bank reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41, Briefing.com reports. The business had revenue of $132.56 million during the quarter, compared to analysts’ expectations of $136.32 million. First Financial Bankshares had a return on equity of 16.19% and a net margin of 42.35%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock opened at $34.38 on Friday. The business has a 50-day moving average of $35.16 and a 200 day moving average of $39.73. First Financial Bankshares has a 12 month low of $32.53 and a 12 month high of $50.43. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 21.35 and a beta of 0.75.

First Financial Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Thursday, December 15th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Wednesday, December 14th. First Financial Bankshares’s dividend payout ratio (DPR) is 42.24%.

Insider Activity at First Financial Bankshares

In related news, Director Johnny Trotter acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The stock was acquired at an average price of $36.94 per share, for a total transaction of $147,760.00. Following the purchase, the director now owns 902,057 shares of the company’s stock, valued at approximately $33,321,985.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Johnny Trotter acquired 4,000 shares of the firm’s stock in a transaction dated Tuesday, October 25th. The stock was acquired at an average price of $36.94 per share, for a total transaction of $147,760.00. Following the purchase, the director now owns 902,057 shares of the company’s stock, valued at approximately $33,321,985.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO F Scott Dueser acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The stock was bought at an average price of $37.59 per share, with a total value of $37,590.00. Following the purchase, the chief executive officer now directly owns 940,814 shares in the company, valued at approximately $35,365,198.26. The disclosure for this purchase can be found here. Insiders bought 5,306 shares of company stock worth $196,941 in the last three months. 4.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Financial Bankshares

Several hedge funds and other institutional investors have recently made changes to their positions in FFIN. American Century Companies Inc. raised its position in shares of First Financial Bankshares by 11.1% during the 1st quarter. American Century Companies Inc. now owns 12,923 shares of the bank’s stock worth $570,000 after acquiring an additional 1,292 shares in the last quarter. Rhumbline Advisers raised its position in shares of First Financial Bankshares by 1.9% during the 1st quarter. Rhumbline Advisers now owns 372,458 shares of the bank’s stock worth $16,433,000 after acquiring an additional 6,776 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of First Financial Bankshares by 10.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,013 shares of the bank’s stock worth $2,074,000 after acquiring an additional 4,500 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of First Financial Bankshares by 8.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 70,082 shares of the bank’s stock worth $3,177,000 after acquiring an additional 5,245 shares in the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of First Financial Bankshares by 2.6% during the 1st quarter. Yousif Capital Management LLC now owns 70,653 shares of the bank’s stock worth $3,117,000 after acquiring an additional 1,814 shares in the last quarter. Institutional investors and hedge funds own 53.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Truist Financial lowered their price target on First Financial Bankshares from $42.00 to $38.00 in a report on Friday, December 9th. StockNews.com cut First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Monday, December 12th.

First Financial Bankshares Company Profile

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First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings and money market accounts, and time deposits; commercial and industrial, municipal, agricultural, construction and development, farm, non-owner occupied and owner-occupied commercial real estate, residential, and consumer auto and non-auto loans to businesses, professional individuals, and farm and ranch operations.

Further Reading

Earnings History for First Financial Bankshares (NASDAQ:FFIN)

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