First Financial Bankshares (NASDAQ:FFIN) Releases Quarterly 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, meeting the consensus estimate of $0.41, Briefing.com reports. The company had revenue of $132.56 million for the quarter, compared to analyst estimates of $136.32 million. First Financial Bankshares had a return on equity of 16.19% and a net margin of 42.35%. First Financial Bankshares’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS.

First Financial Bankshares Stock Up 2.0 %

Shares of First Financial Bankshares stock opened at $34.38 on Friday. The company has a market cap of $4.90 billion, a P/E ratio of 21.35 and a beta of 0.75. The firm’s 50 day moving average price is $35.16 and its 200-day moving average price is $39.73. First Financial Bankshares has a 52-week low of $32.53 and a 52-week high of $50.43.

First Financial Bankshares Dividend Announcement

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

Insider Activity at First Financial Bankshares

In other news, CEO F Scott Dueser purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 26th. The shares were acquired at an average cost of $37.59 per share, with a total value of $37,590.00. Following the completion of the acquisition, the chief executive officer now owns 940,814 shares of the company’s stock, valued at $35,365,198.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO F Scott Dueser purchased 1,000 shares of the company’s stock in a transaction on Wednesday, October 26th. The shares were acquired at an average price of $37.59 per share, for a total transaction of $37,590.00. Following the purchase, the chief executive officer now owns 940,814 shares in the company, valued at $35,365,198.26. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Johnny Trotter acquired 4,000 shares of the business’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 directly owns 902,057 shares of the company’s stock, valued at $33,321,985.58. The disclosure for this purchase can be found here. Insiders bought 5,306 shares of company stock valued at $196,941 over the last 90 days. Insiders own 4.19% of the company’s stock.

Hedge Funds Weigh In On First Financial Bankshares

Large investors have recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in First Financial Bankshares by 11.1% in the first quarter. American Century Companies Inc. now owns 12,923 shares of the bank’s stock valued at $570,000 after buying an additional 1,292 shares in the last quarter. Rhumbline Advisers lifted its stake in First Financial Bankshares by 1.9% in the 1st quarter. Rhumbline Advisers now owns 372,458 shares of the bank’s stock valued at $16,433,000 after buying an additional 6,776 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in First Financial Bankshares by 10.6% in 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 buying an additional 4,500 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in 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 buying an additional 5,245 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of First Financial Bankshares by 2.6% in the first quarter. Yousif Capital Management LLC now owns 70,653 shares of the bank’s stock valued at $3,117,000 after acquiring an additional 1,814 shares in the last quarter. 53.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on FFIN shares. StockNews.com downgraded shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Monday, December 12th. Truist Financial cut their target price on First Financial Bankshares from $42.00 to $38.00 in a research note on Friday, December 9th.

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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