Brokerages expect First Financial Bankshares, Inc. (NASDAQ:FFIN) to announce $129.20 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for First Financial Bankshares' earnings, with the lowest sales estimate coming in at $128.80 million and the highest estimate coming in at $129.60 million. First Financial Bankshares reported sales of $104.40 million in the same quarter last year, which indicates a positive year over year growth rate of 23.8%. The company is scheduled to announce its next quarterly earnings results on Thursday, January 28th.
According to Zacks, analysts expect that First Financial Bankshares will report full-year sales of $498.80 million for the current fiscal year, with estimates ranging from $496.50 million to $501.10 million. For the next financial year, analysts anticipate that the company will post sales of $492.20 million, with estimates ranging from $476.60 million to $507.80 million. Zacks Investment Research's sales calculations are an average based on a survey of sell-side research firms that follow First Financial Bankshares.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. First Financial Bankshares had a return on equity of 12.42% and a net margin of 38.10%. During the same period in the prior year, the company earned $0.32 EPS.
A number of analysts have recently commented on FFIN shares. Piper Sandler upped their price objective on First Financial Bankshares from $25.00 to $28.00 and gave the stock an "underweight" rating in a report on Monday, October 26th. ValuEngine downgraded First Financial Bankshares from a "hold" rating to a "sell" rating in a report on Thursday, October 1st. Zacks Investment Research raised shares of First Financial Bankshares from a "hold" rating to a "strong-buy" rating and set a $35.00 price target for the company in a research report on Tuesday, November 3rd. Finally, BidaskClub raised shares of First Financial Bankshares from a "sell" rating to a "hold" rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company. The stock has a consensus rating of "Hold" and an average target price of $31.25.
NASDAQ FFIN opened at $34.21 on Friday. The company has a market capitalization of $4.86 billion, a P/E ratio of 26.11 and a beta of 0.98. The stock's 50-day moving average price is $31.55 and its 200-day moving average price is $30.01. First Financial Bankshares has a 52 week low of $20.70 and a 52 week high of $36.45.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Wednesday, December 16th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.52 dividend on an annualized basis and a yield of 1.52%. First Financial Bankshares's dividend payout ratio (DPR) is 42.98%.
In other First Financial Bankshares news, Director David L. Copeland sold 20,000 shares of the company's stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $35.21, for a total value of $704,200.00. Also, Director Johnny Trotter acquired 4,000 shares of the firm's stock in a transaction on Wednesday, November 4th. The stock was purchased at an average cost of $29.74 per share, with a total value of $118,960.00. Over the last ninety days, insiders have purchased 6,230 shares of company stock valued at $184,624. 4.44% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in First Financial Bankshares by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 13,281,549 shares of the bank's stock valued at $383,704,000 after buying an additional 529,140 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of First Financial Bankshares by 32.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,185,294 shares of the bank's stock valued at $60,796,000 after purchasing an additional 538,616 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of First Financial Bankshares by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,707,196 shares of the bank's stock valued at $49,323,000 after purchasing an additional 102,848 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of First Financial Bankshares by 5.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,051,849 shares of the bank's stock valued at $30,388,000 after purchasing an additional 54,071 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of First Financial Bankshares by 3.9% in the 3rd quarter. Wells Fargo & Company MN now owns 818,811 shares of the bank's stock valued at $22,853,000 after purchasing an additional 30,641 shares in the last quarter. 49.19% of the stock is owned by institutional investors.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
Further Reading: What is a CD ladder?
Get a free copy of the Zacks research report on First Financial Bankshares (FFIN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
10 Rock-Solid Dividend Paying Stocks to Own
Historically low-interest rates have made it difficult over the last decade for income-oriented investors that want to generate safe cash flow for their retirements.
Dividend-paying stocks have become more appealing to income investors because of their competitive yields, the favorite tax treatment that dividends receive, and their ability to grow their payouts over time. While fixed interest rates from bond investments will lose purchasing power to inflation over time, the purchasing power of income from dividend growth stocks is more protected because companies tend to raise their dividend payments every year.
In this slideshow, we look at ten of the best high-dividend stocks that offer strong yields (above 3.5%), have consistent cash flow, and a strong track record of dividend growth. The companies in this slideshow have all raised their dividend every year for the last ten years.
These companies also have low payout ratios (below 75%), meaning that they will have the ability to continue to pay their dividend if their earnings have a temporary dip.
Stock prices will always fluctuate, but the dividends paid by these rock-solid dividend payers should remain secure with moderate earnings growth.
View the "10 Rock-Solid Dividend Paying Stocks to Own".