First Financial Bankshares, Inc. (FFIN) Announces Quarterly Earnings Results, Hits Estimates
First Financial Bankshares, Inc. (NASDAQ:FFIN) posted its quarterly earnings data on Wednesday. The bank reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44, Briefing.com reports. First Financial Bankshares had a net margin of 33.03% and a return on equity of 12.41%. The firm had revenue of $83.95 million during the quarter, compared to analysts’ expectations of $89.87 million. During the same quarter in the previous year, the company posted $0.39 EPS. First Financial Bankshares’s revenue was up 6.4% on a year-over-year basis.
Shares of First Financial Bankshares (NASDAQ FFIN) traded up 0.44% during midday trading on Thursday, hitting $46.00. 128,257 shares of the stock were exchanged. First Financial Bankshares has a 1-year low of $35.05 and a 1-year high of $46.70. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 28.36 and a beta of 1.38. The firm’s 50 day moving average is $42.90 and its 200-day moving average is $41.42.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Thursday, September 14th. First Financial Bankshares’s payout ratio is presently 46.91%.
First Financial Bankshares declared that its board has approved a share buyback program on Tuesday, July 25th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
Several brokerages have commented on FFIN. Keefe, Bruyette & Woods restated a “hold” rating and issued a $39.00 price objective on shares of First Financial Bankshares in a research report on Tuesday, October 3rd. Zacks Investment Research cut shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Piper Jaffray Companies restated a “hold” rating and issued a $41.00 price objective on shares of First Financial Bankshares in a research report on Friday, September 1st. BidaskClub cut shares of First Financial Bankshares from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, Stephens set a $39.00 price objective on shares of First Financial Bankshares and gave the company a “hold” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.00.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.
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