First Financial Bankshares (NASDAQ:FFIN) Announces Earnings Results

Key Points

• First Financial Bankshares matched earnings expectations with quarterly EPS of $0.52, while reporting a 31.03% net margin and 14.00% return on equity.
• The company declared a quarterly dividend of $0.22 per share, equivalent to $0.88 annually and a 2.8% yield, with a 47.06% payout ratio.
• Analyst sentiment remains mixed: the stock carries a consensus “Hold” rating and an average price target of $35.60, while shares recently traded at $31.59.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) issued its quarterly earnings results on Thursday. The bank reported $0.52 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.52, Zacks reports. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%.

First Financial Bankshares Stock Performance

NASDAQ FFIN traded up $0.70 on Thursday, reaching $31.59. 802,480 shares of the company's stock traded hands, compared to its average volume of 823,275. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 16.89 and a beta of 0.82. The stock has a 50 day moving average price of $33.04 and a 200-day moving average price of $32.97. First Financial Bankshares has a fifty-two week low of $28.11 and a fifty-two week high of $36.52.

First Financial Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, September 14th. First Financial Bankshares's dividend payout ratio (DPR) is 47.06%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FFIN shares. Raymond James Financial assumed coverage on First Financial Bankshares in a research note on Wednesday. They set a "market perform" rating on the stock. Cantor Fitzgerald cut their price objective on First Financial Bankshares from $35.00 to $34.00 and set a "neutral" rating on the stock in a report on Wednesday. Benchmark assumed coverage on First Financial Bankshares in a research note on Wednesday, June 24th. They issued a "buy" rating and a $39.00 price objective for the company. Piper Sandler initiated coverage on First Financial Bankshares in a report on Thursday, August 27th. They set a "neutral" rating and a $35.00 target price for the company. Finally, Seaport Research Partners upgraded First Financial Bankshares to a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, First Financial Bankshares has a consensus rating of "Hold" and an average target price of $35.60.

Insider Activity

In related news, Director Michael B. Denny acquired 3,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average price of $34.66 per share, with a total value of $103,980.00. Following the acquisition, the director directly owned 6,500 shares in the company, valued at $225,290. This represents a 85.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Ronald David Butler II sold 15,000 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $34.95, for a total value of $524,250.00. Following the completion of the transaction, the chief accounting officer directly owned 152,223 shares of the company's stock, valued at approximately $5,320,193.85. This trade represents a 8.97% decrease in their position. The SEC filing for this sale provides additional information. 3.80% of the stock is currently owned by company insiders.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations.

Its offerings include checking and savings accounts, consumer and commercial loans, mortgage lending, treasury and cash-management services, online and mobile banking, and other deposit products. The company also provides trust, wealth-management and investment-related services through affiliated operations.

First Financial Bankshares traces its history to 1890 and serves communities across Texas through a network of banking locations.

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