First Financial Bankshares (NASDAQ:FFIN) Releases Earnings Results, Beats Expectations By $0.02 EPS

First Financial Bankshares (NASDAQ:FFIN) released its quarterly earnings results on Thursday. The bank reported $0.37 EPS for the quarter, beating 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 in the prior year, the company posted $0.39 earnings per share. First Financial Bankshares’s revenue was up 4.3% compared to the same quarter last year.

First Financial Bankshares Stock Performance

Shares of FFIN stock opened at $28.80 on Friday. First Financial Bankshares has a fifty-two week low of $22.84 and a fifty-two week high of $33.15. The stock’s fifty day moving average price is $31.14 and its two-hundred day moving average price is $28.81. The company has a market cap of $4.11 billion, a PE ratio of 20.57 and a beta of 0.82.

First Financial Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.50%. First Financial Bankshares’s dividend payout ratio is currently 51.43%.

Analysts Set New Price Targets

A number of brokerages have issued reports on FFIN. Truist Financial decreased their target price on shares of 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. Stephens raised their price objective on First Financial Bankshares from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods lifted their price objective on First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.75.

Hedge Funds Weigh In On First Financial Bankshares

A number of institutional investors have recently modified their holdings of FFIN. Captrust Financial Advisors grew its position in First Financial Bankshares by 3.9% in the fourth quarter. Captrust Financial Advisors now owns 8,691 shares of the bank’s stock valued at $299,000 after acquiring an additional 328 shares during the last quarter. Creative Planning grew its holdings in shares of First Financial Bankshares by 4.9% during 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 last quarter. Cetera Advisor Networks LLC grew its holdings in shares of First Financial Bankshares by 2.7% during the 4th 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 during the last quarter. First Republic Investment Management Inc. increased its position in First Financial Bankshares by 2.3% during the 1st quarter. First Republic Investment Management Inc. now owns 23,353 shares of the bank’s stock worth $745,000 after purchasing an additional 526 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its stake in First Financial Bankshares by 0.4% in the 3rd quarter. Retirement Systems of Alabama now owns 169,820 shares of the bank’s stock valued at $7,104,000 after purchasing an additional 614 shares during the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

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.