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

First Financial Bankshares (NASDAQ:FFIN) posted its earnings results on Thursday. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02, Briefing.com reports. The firm had revenue of $129.63 million during 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%. The company’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS.

First Financial Bankshares Price Performance

Shares of FFIN traded up $1.21 during trading hours on Friday, reaching $30.01. 1,110,522 shares of the company’s stock traded hands, compared to its average volume of 416,267. The business’s fifty day simple moving average is $31.11 and its two-hundred day simple moving average is $28.85. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 21.44 and a beta of 0.82. First Financial Bankshares has a twelve month low of $22.84 and a twelve month high of $33.15.

First Financial Bankshares Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is 51.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in First Financial Bankshares by 2.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 79,360 shares of the bank’s stock worth $2,405,000 after purchasing an additional 1,704 shares in the last quarter. GSA Capital Partners LLP increased its stake in First Financial Bankshares by 30.3% in the 4th quarter. GSA Capital Partners LLP now owns 55,806 shares of the bank’s stock worth $1,691,000 after purchasing an additional 12,963 shares in the last quarter. Townsquare Capital LLC increased its stake in First Financial Bankshares by 15.3% in the 4th quarter. Townsquare Capital LLC now owns 28,509 shares of the bank’s stock worth $864,000 after purchasing an additional 3,782 shares in the last quarter. Legal & General Group Plc increased its stake in First Financial Bankshares by 1.3% in the 4th quarter. Legal & General Group Plc now owns 203,410 shares of the bank’s stock worth $6,163,000 after purchasing an additional 2,578 shares in the last quarter. Finally, Barclays PLC grew its stake in First Financial Bankshares by 111.0% during the 4th quarter. Barclays PLC now owns 370,876 shares of the bank’s stock valued at $11,238,000 after acquiring an additional 195,137 shares in the last quarter. 69.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Truist Financial reduced their target price 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. Stephens reduced their target price on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Keefe, Bruyette & Woods increased their target price on 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. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.50.

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.