First Financial Bankshares (NASDAQ:FFIN) Announces Earnings Results

First Financial Bankshares (NASDAQ:FFIN) announced its quarterly earnings results on Thursday. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02, Briefing.com reports. The company had revenue of $129.63 million for the quarter, compared to the consensus estimate 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 for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 EPS.

First Financial Bankshares Price Performance

First Financial Bankshares stock opened at $30.01 on Friday. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 21.44 and a beta of 0.82. First Financial Bankshares has a 1 year low of $22.84 and a 1 year high of $33.15. The firm has a 50-day moving average of $31.11 and a two-hundred day moving average of $28.85.

First Financial Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.18 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.40%. First Financial Bankshares’s dividend payout ratio (DPR) is 51.43%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their target price 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. Truist Financial dropped their price target on shares of First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating for the company in a research note on Monday, April 1st. Finally, Stephens dropped their price target on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.50.

Institutional Investors Weigh In On First Financial Bankshares

Several large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its stake in First Financial Bankshares by 3.9% during the 4th quarter. Captrust Financial Advisors now owns 8,691 shares of the bank’s stock valued at $299,000 after purchasing an additional 328 shares in the last quarter. Creative Planning increased its stake in 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 in the last quarter. Cetera Advisor Networks LLC increased its stake in 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 in the last quarter. First Republic Investment Management Inc. increased its stake 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 valued at $745,000 after purchasing an additional 526 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of First Financial Bankshares by 0.4% in the third quarter. Retirement Systems of Alabama now owns 169,820 shares of the bank’s stock worth $7,104,000 after acquiring an additional 614 shares during the period. 69.78% of the stock is owned by hedge funds and other institutional investors.

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.