First Financial Bankshares (NASDAQ:FFIN) Announces Earnings Results

Key Points

• First Financial Bankshares reported quarterly earnings of $0.50 per share, matching Wall Street expectations. The company also posted a 31.00% net margin and 14.20% return on equity.
• The stock rose to $36.50 on the news, with trading volume above its average. Shares are near the top of their 52-week range, with a market cap of $5.23 billion.
• The company raised its quarterly dividend to $0.22 per share from $0.19, bringing the annualized payout to $0.88 and the yield to 2.4%.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) announced its earnings results on Thursday. The bank reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50, Zacks reports. First Financial Bankshares had a net margin of 31.00% and a return on equity of 14.20%.

First Financial Bankshares Price Performance

NASDAQ:FFIN traded up $1.28 during trading hours on Thursday, hitting $36.50. The company's stock had a trading volume of 1,142,199 shares, compared to its average volume of 846,150. First Financial Bankshares has a twelve month low of $28.11 and a twelve month high of $38.74. The stock has a fifty day simple moving average of $33.17 and a 200-day simple moving average of $32.09. The company has a market capitalization of $5.23 billion, a P/E ratio of 19.84 and a beta of 0.81.

First Financial Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.4%. This is a boost from First Financial Bankshares's previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, June 12th. First Financial Bankshares's payout ratio is 47.83%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FFIN shares. Keefe, Bruyette & Woods lowered their price objective on First Financial Bankshares from $36.00 to $34.00 and set a "market perform" rating on the stock in a research note on Thursday, April 9th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $35.00 price target (up from $34.00) on shares of First Financial Bankshares in a research note on Wednesday. Benchmark initiated coverage on shares of First Financial Bankshares in a research report on Wednesday, June 24th. They set a "buy" rating and a $39.00 price objective for the company. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of First Financial Bankshares in a research note on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, First Financial Bankshares currently has a consensus rating of "Moderate Buy" and an average price target of $36.75.

Insider Activity at First Financial Bankshares

In related news, Director Murray Hamilton Edwards purchased 1,000 shares of First Financial Bankshares stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $33.18 per share, for a total transaction of $33,180.00. Following the purchase, the director owned 44,634 shares in the company, valued at approximately $1,480,956.12. This trade represents a 2.29% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.80% of the company's stock.

Institutional Trading of First Financial Bankshares

A number of hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of First Financial Bankshares by 10.8% in the 1st quarter. Royal Bank of Canada now owns 64,287 shares of the bank's stock valued at $2,309,000 after acquiring an additional 6,290 shares during the last quarter. AQR Capital Management LLC increased its holdings in First Financial Bankshares by 51.3% in the 1st quarter. AQR Capital Management LLC now owns 118,437 shares of the bank's stock worth $4,228,000 after purchasing an additional 40,173 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in First Financial Bankshares by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,474 shares of the bank's stock valued at $2,783,000 after purchasing an additional 3,382 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of First Financial Bankshares during the first quarter valued at about $1,760,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of First Financial Bankshares by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 396,513 shares of the bank's stock valued at $14,243,000 after purchasing an additional 59,416 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company's stock.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company's core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.

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