Wall Street analysts forecast that First Financial Bankshares Inc (NASDAQ:FFIN) will post sales of $102.20 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for First Financial Bankshares’ earnings. The highest sales estimate is $102.60 million and the lowest is $101.80 million. First Financial Bankshares reported sales of $98.72 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.5%. The company is expected to announce its next quarterly earnings results on Thursday, October 17th.
On average, analysts expect that First Financial Bankshares will report full-year sales of $401.40 million for the current year, with estimates ranging from $400.90 million to $401.90 million. For the next fiscal year, analysts anticipate that the firm will report sales of $426.80 million, with estimates ranging from $421.70 million to $431.90 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for First Financial Bankshares.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. The business had revenue of $101.26 million during the quarter, compared to the consensus estimate of $99.90 million. First Financial Bankshares had a return on equity of 14.82% and a net margin of 38.62%. During the same period last year, the firm earned $0.49 earnings per share.
Several research analysts have weighed in on FFIN shares. Zacks Investment Research lowered shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Stephens reaffirmed a “hold” rating and set a $30.00 target price on shares of First Financial Bankshares in a report on Friday, July 19th. BidaskClub downgraded First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Friday. Piper Jaffray Companies set a $27.00 target price on First Financial Bankshares and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, ValuEngine downgraded First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $30.25.
In related news, Director Johnny Trotter purchased 2,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average cost of $60.67 per share, for a total transaction of $121,340.00. Following the completion of the transaction, the director now directly owns 405,913 shares in the company, valued at $24,626,741.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders purchased 2,963 shares of company stock valued at $158,460. 4.90% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC boosted its holdings in First Financial Bankshares by 767.3% in the first quarter. Quadrant Capital Group LLC now owns 451 shares of the bank’s stock valued at $26,000 after acquiring an additional 399 shares during the last quarter. First Command Financial Services Inc. lifted its position in First Financial Bankshares by 100.0% during the 2nd quarter. First Command Financial Services Inc. now owns 1,048 shares of the bank’s stock worth $32,000 after acquiring an additional 524 shares during the period. Advisory Services Network LLC lifted its position in First Financial Bankshares by 223.4% during the 2nd quarter. Advisory Services Network LLC now owns 1,174 shares of the bank’s stock worth $36,000 after acquiring an additional 811 shares during the period. Liberty Wealth Management LLC lifted its position in First Financial Bankshares by 100.0% during the 2nd quarter. Liberty Wealth Management LLC now owns 1,260 shares of the bank’s stock worth $39,000 after acquiring an additional 630 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in First Financial Bankshares by 87.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,686 shares of the bank’s stock worth $52,000 after acquiring an additional 786 shares during the period. Institutional investors and hedge funds own 55.53% of the company’s stock.
Shares of NASDAQ:FFIN traded down $0.66 during midday trading on Wednesday, hitting $30.98. 237,694 shares of the stock traded hands, compared to its average volume of 726,106. The stock has a market cap of $8.57 billion, a PE ratio of 28.42 and a beta of 1.14. The stock’s 50 day simple moving average is $31.06. First Financial Bankshares has a one year low of $26.73 and a one year high of $33.43.
About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily 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.
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