First Financial Bankshares (NASDAQ:FFIN) Releases Earnings Results, Beats Estimates By $0.02 EPS

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) announced its quarterly earnings data on Thursday. The bank reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.02, Briefing.com reports. First Financial Bankshares had a return on equity of 14.53% and a net margin of 31.28%. The business had revenue of $129.63 million during the quarter, compared to analysts' expectations of $129.72 million. During the same period in the previous year, the firm earned $0.39 earnings per share. The firm's quarterly revenue was up 4.3% compared to the same quarter last year.

First Financial Bankshares Trading Up 4.2 %

Shares of First Financial Bankshares stock traded up $1.21 during trading on Friday, reaching $30.01. The stock had a trading volume of 1,110,522 shares, compared to its average volume of 514,008. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 21.44 and a beta of 0.82. The stock has a fifty day moving average price of $31.11 and a two-hundred day moving average price of $28.85. First Financial Bankshares has a 52 week low of $22.84 and a 52 week high of $33.15.

First Financial Bankshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.40%. First Financial Bankshares's dividend payout ratio (DPR) is 51.43%.

Analyst Ratings Changes

A number of research analysts have issued reports on FFIN shares. Keefe, Bruyette & Woods boosted their target price on First Financial Bankshares from $30.00 to $31.00 and gave the company a "market perform" rating in a research note on Friday, January 26th. Stephens decreased their target price on First Financial Bankshares from $35.00 to $31.00 and set an "equal weight" rating for the company in a research note on Friday. Finally, Truist Financial decreased their target price on First Financial Bankshares from $35.00 to $34.00 and set a "hold" rating for the company in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, First Financial Bankshares currently has an average rating of "Hold" and an average target price of $30.50.

Institutional Trading of First Financial Bankshares

Institutional investors have recently modified their holdings of the company. Guggenheim Capital LLC lifted its holdings in shares of First Financial Bankshares by 42.1% in the second quarter. Guggenheim Capital LLC now owns 9,252 shares of the bank's stock valued at $264,000 after purchasing an additional 2,742 shares in the last quarter. Bridgefront Capital LLC bought a new stake in shares of First Financial Bankshares in the first quarter valued at about $258,000. Amundi bought a new stake in First Financial Bankshares during the fourth quarter worth about $236,000. Pathstone Holdings LLC bought a new stake in First Financial Bankshares during the fourth quarter worth about $235,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in First Financial Bankshares during the first quarter worth about $234,000. 69.78% of the stock is currently 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 offers checking, savings and time deposits; automated teller machines, drive-in, and night deposit services; safe deposit facilities, remote deposit capture, internet banking, mobile banking, payroll cards, funds transfer, and performing other customary commercial banking services; securities brokerage services; and trust and wealth management services, including wealth management, estates administration, oil and gas management, testamentary trusts, revocable and irrevocable trusts, and agency accounts.