First Financial Bankshares (NASDAQ:FFIN) Releases Quarterly Earnings Results, Hits Expectations

First Financial Bankshares (NASDAQ:FFINGet Rating) posted its quarterly earnings results on Thursday. The bank reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41, Briefing.com reports. The business had revenue of $132.56 million during the quarter, compared to analysts’ expectations of $136.32 million. First Financial Bankshares had a return on equity of 17.81% and a net margin of 41.53%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.39 EPS.

First Financial Bankshares Trading Up 2.0 %

FFIN stock opened at $34.38 on Friday. The stock has a 50-day moving average price of $35.16 and a two-hundred day moving average price of $39.72. First Financial Bankshares has a 12-month low of $32.53 and a 12-month high of $50.43. The company has a market cap of $4.90 billion, a PE ratio of 21.09 and a beta of 0.75.

First Financial Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Wednesday, December 14th. First Financial Bankshares’s dividend payout ratio is currently 41.72%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FFIN shares. StockNews.com cut First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Monday, December 12th. Truist Financial cut their price target on First Financial Bankshares from $42.00 to $38.00 in a report on Friday, December 9th.

Insider Buying and Selling at First Financial Bankshares

In other news, Director Johnny Trotter purchased 4,000 shares of the stock in a transaction on Tuesday, October 25th. The stock was purchased at an average price of $36.94 per share, with a total value of $147,760.00. Following the completion of the transaction, the director now owns 902,057 shares in the company, valued at $33,321,985.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Johnny Trotter acquired 4,000 shares of First Financial Bankshares stock in a transaction on Tuesday, October 25th. The shares were bought at an average price of $36.94 per share, for a total transaction of $147,760.00. Following the completion of the purchase, the director now directly owns 902,057 shares in the company, valued at approximately $33,321,985.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO F Scott Dueser acquired 1,000 shares of First Financial Bankshares stock in a transaction on Wednesday, October 26th. The shares were bought at an average price of $37.59 per share, for a total transaction of $37,590.00. Following the purchase, the chief executive officer now owns 940,814 shares of the company’s stock, valued at $35,365,198.26. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 5,306 shares of company stock valued at $196,941. Company insiders own 4.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning lifted its stake in shares of First Financial Bankshares by 4.9% in the second quarter. Creative Planning now owns 8,114 shares of the bank’s stock worth $319,000 after acquiring an additional 380 shares in the last quarter. Retirement Systems of Alabama raised its stake in First Financial Bankshares by 0.4% during the third quarter. Retirement Systems of Alabama now owns 169,820 shares of the bank’s stock valued at $7,104,000 after buying an additional 614 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in First Financial Bankshares by 1.3% during the third quarter. Thrivent Financial for Lutherans now owns 47,619 shares of the bank’s stock valued at $1,997,000 after buying an additional 633 shares in the last quarter. NewEdge Advisors LLC raised its stake in First Financial Bankshares by 2.7% during the first quarter. NewEdge Advisors LLC now owns 34,489 shares of the bank’s stock valued at $1,522,000 after buying an additional 902 shares in the last quarter. Finally, First Republic Investment Management Inc. raised its stake in First Financial Bankshares by 4.2% during the first quarter. First Republic Investment Management Inc. now owns 31,570 shares of the bank’s stock valued at $1,393,000 after buying an additional 1,264 shares in the last quarter. Institutional investors and hedge funds own 53.86% of the company’s stock.

First Financial Bankshares Company Profile

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First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings and money market accounts, and time deposits; commercial and industrial, municipal, agricultural, construction and development, farm, non-owner occupied and owner-occupied commercial real estate, residential, and consumer auto and non-auto loans to businesses, professional individuals, and farm and ranch operations.

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Earnings History for First Financial Bankshares (NASDAQ:FFIN)

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