First Financial Bankshares (FFIN) Scheduled to Post Quarterly Earnings on Thursday

First Financial Bankshares (NASDAQ:FFIN) will be posting its quarterly earnings results on Thursday, April 18th.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). First Financial Bankshares had a return on equity of 14.53% and a net margin of 31.28%. The business had revenue of $119.49 million for the quarter, compared to analysts’ expectations of $125.09 million. During the same period in the prior year, the business posted $0.41 earnings per share. The business’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, analysts expect First Financial Bankshares to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

First Financial Bankshares Price Performance

FFIN traded down $0.37 during trading on Wednesday, reaching $28.65. 438,488 shares of the company’s stock were exchanged, compared to its average volume of 503,114. First Financial Bankshares has a 1 year low of $22.84 and a 1 year high of $33.15. The stock has a market capitalization of $4.09 billion, a P/E ratio of 20.71 and a beta of 0.82. The company’s fifty day simple moving average is $31.23 and its 200-day simple moving average is $28.82.

First Financial Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Thursday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is 51.43%.

Hedge Funds Weigh In On First Financial Bankshares

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new position in shares of First Financial Bankshares during the first quarter worth approximately $6,742,000. Charles Schwab Investment Management Inc. grew its position in First Financial Bankshares by 2.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,379,898 shares of the bank’s stock valued at $60,881,000 after buying an additional 39,057 shares during the last quarter. First Trust Advisors LP grew its position in First Financial Bankshares by 13.9% in the 1st quarter. First Trust Advisors LP now owns 216,419 shares of the bank’s stock valued at $9,548,000 after buying an additional 26,475 shares during the last quarter. Bridgefront Capital LLC purchased a new position in First Financial Bankshares in the 1st quarter valued at $258,000. Finally, NewEdge Advisors LLC grew its position in First Financial Bankshares by 2.7% in the 1st quarter. NewEdge Advisors LLC now owns 34,489 shares of the bank’s stock valued at $1,522,000 after buying an additional 902 shares during the last quarter. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FFIN. Keefe, Bruyette & Woods lifted their target price on shares of First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Truist Financial dropped their target price on shares of First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating for the company in a report on Monday, April 1st. Finally, Stephens upped their price objective on shares of First Financial Bankshares from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.