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

First Financial Bankshares (NASDAQ:FFIN) announced its quarterly earnings data on Thursday. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02, Briefing.com reports. The company had revenue of $129.63 million for the quarter, compared to analysts’ expectations of $129.72 million. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.60%. First Financial Bankshares’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS.

First Financial Bankshares Stock Performance

Shares of NASDAQ FFIN opened at $30.01 on Friday. The firm has a market capitalization of $4.28 billion, a P/E ratio of 21.44 and a beta of 0.82. First Financial Bankshares has a one year low of $22.84 and a one year high of $33.15. The company’s fifty day moving average is $31.11 and its two-hundred day moving average is $28.85.

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 given a dividend of $0.18 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.40%. First Financial Bankshares’s payout ratio is currently 51.43%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FFIN shares. Keefe, Bruyette & Woods boosted their price objective on shares of First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Stephens dropped their price objective on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Truist Financial dropped their price objective on shares of First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.50.

Institutional Investors Weigh In On First Financial Bankshares

Several institutional investors have recently made changes to their positions in FFIN. Norges Bank purchased a new stake in shares of First Financial Bankshares during the 4th quarter worth $43,669,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of First Financial Bankshares by 19.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,513,355 shares of the bank’s stock worth $112,076,000 after purchasing an additional 570,999 shares in the last quarter. State Street Corp boosted its position in shares of First Financial Bankshares by 8.6% during the 2nd quarter. State Street Corp now owns 5,881,523 shares of the bank’s stock worth $168,569,000 after purchasing an additional 468,161 shares in the last quarter. BlackRock Inc. boosted its position in shares of First Financial Bankshares by 2.3% during the 2nd quarter. BlackRock Inc. now owns 15,408,942 shares of the bank’s stock worth $439,001,000 after purchasing an additional 339,634 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of First Financial Bankshares during the 1st quarter worth $7,939,000. 69.78% of the stock is currently owned by hedge funds and other institutional investors.

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.