First Financial Bankshares, Inc. (NASDAQ:FFIN) Expected to Post Quarterly Sales of $123.95 Million

Last updated on Monday, April 19, 2021 | 2021 MarketBeat

Equities analysts predict that First Financial Bankshares, Inc. (NASDAQ:FFIN) will post sales of $123.95 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for First Financial Bankshares' earnings, with the highest sales estimate coming in at $125.50 million and the lowest estimate coming in at $122.40 million. First Financial Bankshares reported sales of $111.47 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.2%. The company is expected to report its next earnings results on Thursday, April 22nd.

According to Zacks, analysts expect that First Financial Bankshares will report full-year sales of $492.40 million for the current year, with estimates ranging from $475.00 million to $509.80 million. For the next fiscal year, analysts forecast that the company will post sales of $486.05 million, with estimates ranging from $458.20 million to $513.90 million. Zacks' 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 released its quarterly earnings results on Wednesday, January 27th. The bank reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. The business had revenue of $129.60 million during the quarter, compared to analyst estimates of $131.00 million. First Financial Bankshares had a return on equity of 12.42% and a net margin of 38.10%.

Several research firms have recently commented on FFIN. Zacks Investment Research raised shares of First Financial Bankshares from a "sell" rating to a "hold" rating in a research note on Friday, April 2nd. Truist boosted their price target on shares of First Financial Bankshares from $40.00 to $47.00 in a research note on Monday, March 8th.

NASDAQ FFIN opened at $47.20 on Monday. The company has a market cap of $6.72 billion, a P/E ratio of 36.03 and a beta of 0.96. The stock has a 50-day moving average of $47.34 and a two-hundred day moving average of $38.51. First Financial Bankshares has a 1-year low of $23.99 and a 1-year high of $51.60.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Tuesday, March 16th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 15th. This represents a $0.52 dividend on an annualized basis and a yield of 1.10%. First Financial Bankshares's dividend payout ratio is currently 42.98%.

Several large investors have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its position in shares of First Financial Bankshares by 528.2% during the 4th quarter. Alliancebernstein L.P. now owns 2,223,131 shares of the bank's stock worth $80,422,000 after purchasing an additional 1,869,253 shares during the last quarter. Norges Bank acquired a new position in shares of First Financial Bankshares during the 4th quarter worth about $48,499,000. JPMorgan Chase & Co. increased its holdings in shares of First Financial Bankshares by 10.9% in the 4th quarter. JPMorgan Chase & Co. now owns 2,423,318 shares of the bank's stock valued at $87,663,000 after acquiring an additional 238,024 shares during the last quarter. BlackRock Inc. raised its position in shares of First Financial Bankshares by 1.4% during the 4th quarter. BlackRock Inc. now owns 15,552,657 shares of the bank's stock worth $562,617,000 after acquiring an additional 222,066 shares in the last quarter. Finally, Morgan Stanley lifted its stake in First Financial Bankshares by 171.0% during the fourth quarter. Morgan Stanley now owns 205,176 shares of the bank's stock worth $7,422,000 after purchasing an additional 129,473 shares during the last quarter. 48.28% of the stock is currently owned by institutional investors.

About First Financial Bankshares

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; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.

See Also: What is a stock portfolio tracker?

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

Earnings History and Estimates for First Financial Bankshares (NASDAQ:FFIN)

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]

Featured Article: What is meant by a buy rating?



7 Hotel Stocks Just Waiting For the Vaccine

Like any group of stocks related to travel and tourism, hotel stocks saw a steep drop in share prices in 2020. The leisure and hospitality sector that once had 15 million employees has lost 4 million jobs since February.

Many major cities will be feeling the ripple effects of the Covid-19 pandemic for years. However, there is ample evidence that shows the pandemic may be coming to an end. The number of new cases is dropping. The number of those getting vaccinated is rising. And even in the cities with the most restrictive mitigation measures, the slow process of reopening is beginning.

All of this can’t come fast enough for individuals who rely on the travel and tourism industry for their livelihood. Hotel chains had at least some revenue coming in the door. And when earnings season concludes, the more budget-friendly hotel chains may realize revenue that is 75% of its 2019 numbers. But that is not enough to bring the hotels to anywhere near full employment. Particularly with hotels that have bars and restaurants that have remained closed or open at limited capacity.

Many economists are optimistic that travel may begin to look more normal by the summer of this year. And the global economy may deliver 6.4% GDP growth this year. With that in mind, the hotel chains with the best fundamentals and the broadest footprint will be in the best position as the economy reopens.

View the "7 Hotel Stocks Just Waiting For the Vaccine".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Learn more.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.