Equities research analysts predict that First Financial Bankshares, Inc. (NASDAQ:FFIN) will report sales of $128.60 million for the current quarter, Zacks reports. Two analysts have provided estimates for First Financial Bankshares' earnings, with the highest sales estimate coming in at $129.90 million and the lowest estimate coming in at $127.30 million. First Financial Bankshares reported sales of $129.06 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.4%. The firm is expected to announce its next quarterly earnings report on Thursday, July 22nd.
On average, analysts expect that First Financial Bankshares will report full year sales of $504.95 million for the current fiscal year, with estimates ranging from $497.40 million to $512.50 million. For the next year, analysts expect that the company will report sales of $496.50 million, with estimates ranging from $473.70 million to $519.30 million. Zacks' sales calculations are an average based on a survey of research firms that follow First Financial Bankshares.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Wednesday, April 21st. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.37 by $0.03. First Financial Bankshares had a return on equity of 13.55% and a net margin of 43.24%. The company had revenue of $127.25 million for the quarter, compared to analysts' expectations of $125.18 million.
Several research firms have recently commented on FFIN. Zacks Investment Research raised shares of First Financial Bankshares from a "hold" rating to a "buy" rating and set a $53.00 price target on the stock in a research report on Tuesday. Truist boosted their target price on First Financial Bankshares from $47.00 to $52.00 in a research report on Tuesday, April 27th.
In related news, CEO F Scott Dueser sold 20,000 shares of the stock in a transaction dated Wednesday, June 9th. The shares were sold at an average price of $51.58, for a total transaction of $1,031,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael B. Denny purchased 1,000 shares of the business's stock in a transaction that occurred on Thursday, May 27th. The shares were purchased at an average cost of $49.85 per share, with a total value of $49,850.00. Following the completion of the acquisition, the director now directly owns 5,341 shares of the company's stock, valued at $266,248.85. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 30,932 shares of company stock valued at $1,571,673. Insiders own 4.20% of the company's stock.
Several hedge funds have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its position in shares of First Financial Bankshares by 2.3% in the first quarter. Crossmark Global Holdings Inc. now owns 11,440 shares of the bank's stock valued at $535,000 after purchasing an additional 260 shares during the last quarter. Point72 Hong Kong Ltd boosted its position in First Financial Bankshares by 136.9% during the first quarter. Point72 Hong Kong Ltd now owns 694 shares of the bank's stock worth $32,000 after acquiring an additional 401 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in First Financial Bankshares by 0.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 70,855 shares of the bank's stock worth $3,311,000 after acquiring an additional 543 shares during the last quarter. Van ECK Associates Corp acquired a new stake in First Financial Bankshares during the first quarter worth approximately $33,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in First Financial Bankshares during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 52.56% of the company's stock.
FFIN stock opened at $48.69 on Thursday. First Financial Bankshares has a 12-month low of $26.71 and a 12-month high of $52.49. The firm has a market cap of $6.93 billion, a PE ratio of 31.21 and a beta of 0.89. The business has a 50-day moving average price of $49.67.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 1st. Investors of record on Wednesday, June 16th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, June 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from First Financial Bankshares's previous quarterly dividend of $0.13. First Financial Bankshares's payout ratio is presently 42.25%.
About First Financial Bankshares
First Financial Bankshares, Inc is a bank holding company, which engages in the provision of financial and community banking services. It offers mortgage loans, savings and checking accounts, auto and equity loans, online and mobile banking, investment and trust management, and retirement plans. The company was founded in 1956 and is headquartered in Abilene, TX.
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