First Financial Bankshares (FFIN) to Release Earnings on Thursday

First Financial Bankshares (NASDAQ:FFIN) is scheduled to be announcing its earnings results on Thursday, April 18th.

First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.32 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 during the quarter, compared to analyst estimates of $125.09 million. During the same period in the prior year, the firm posted $0.41 EPS. First Financial Bankshares’s revenue for the quarter 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 Trading Down 1.2 %

Shares of First Financial Bankshares stock traded down $0.35 during trading on Wednesday, reaching $28.67. The company’s stock had a trading volume of 280,685 shares, compared to its average volume of 500,291. The stock has a market capitalization of $4.09 billion, a P/E ratio of 20.71 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 stock has a 50-day moving average price of $31.23 and a two-hundred day moving average price of $28.82.

First Financial Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued 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 2.51%. First Financial Bankshares’s dividend payout ratio is currently 51.43%.

Institutional Investors Weigh In On First Financial Bankshares

Several hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of First Financial Bankshares in the 4th quarter valued at $43,669,000. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of First Financial Bankshares by 19.4% during the first 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 during the period. State Street Corp raised its position in shares of First Financial Bankshares by 8.6% during the second 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 during the period. BlackRock Inc. lifted its holdings 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 valued at $439,001,000 after purchasing an additional 339,634 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of First Financial Bankshares in the 1st quarter valued at approximately $7,939,000. 69.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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