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

First Financial Bankshares (NASDAQ:FFIN) posted its quarterly earnings results on Thursday. The bank reported $0.37 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $129.72 million. During the same period last year, the company posted $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 Up 0.5 %

Shares of FFIN stock opened at $28.80 on Friday. The firm has a fifty day moving average of $31.14 and a 200-day moving average of $28.81. First Financial Bankshares has a 12-month low of $22.84 and a 12-month high of $33.15. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 20.57 and a beta of 0.82.

First Financial Bankshares Dividend Announcement

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

Institutional Investors Weigh In On First Financial Bankshares

Several institutional investors have recently added to or reduced their stakes in FFIN. Clear Street Markets LLC bought a new position in First Financial Bankshares in the fourth quarter valued at approximately $53,000. KBC Group NV bought a new position in First Financial Bankshares during the 4th quarter worth $62,000. Dark Forest Capital Management LP raised its stake in First Financial Bankshares by 200.9% in the 1st quarter. Dark Forest Capital Management LP now owns 2,022 shares of the bank’s stock worth $65,000 after purchasing an additional 1,350 shares in the last quarter. Chilton Capital Management LLC bought a new stake in shares of First Financial Bankshares in the first quarter valued at approximately $109,000. Finally, US Bancorp DE lifted its position in shares of First Financial Bankshares by 33.7% during the 4th quarter. US Bancorp DE now owns 4,003 shares of the bank’s stock valued at $121,000 after acquiring an additional 1,009 shares during the period. 69.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on FFIN. Truist Financial lowered their price target on shares of First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Stephens increased their target price on shares of First Financial Bankshares from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Finally, Keefe, Bruyette & Woods upped 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 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 company’s stock. According to data from MarketBeat, First Financial Bankshares currently has an average rating of “Hold” and a consensus price target of $30.75.

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.