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

First Financial Bankshares (NASDAQ:FFIN) posted its earnings results on Thursday. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02, Briefing.com reports. First Financial Bankshares had a return on equity of 14.60% and a net margin of 30.03%. The firm had revenue of $129.63 million for the quarter, compared to analyst estimates of $129.72 million. During the same quarter in the prior year, the company earned $0.39 EPS. First Financial Bankshares’s revenue was up 4.3% on a year-over-year basis.

First Financial Bankshares Stock Up 4.2 %

Shares of First Financial Bankshares stock opened at $30.01 on Friday. First Financial Bankshares has a fifty-two week low of $22.84 and a fifty-two week high of $33.15. The firm has a market cap of $4.28 billion, a PE ratio of 21.44 and a beta of 0.82. The business’s fifty day moving average is $31.11 and its two-hundred day moving average is $28.85.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, March 14th. First Financial Bankshares’s dividend payout ratio is presently 51.43%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of First Financial Bankshares by 2.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 79,360 shares of the bank’s stock worth $2,405,000 after purchasing an additional 1,704 shares during the period. GSA Capital Partners LLP lifted its stake in shares of First Financial Bankshares by 30.3% during the 4th quarter. GSA Capital Partners LLP now owns 55,806 shares of the bank’s stock worth $1,691,000 after purchasing an additional 12,963 shares during the period. Townsquare Capital LLC lifted its stake in shares of First Financial Bankshares by 15.3% during the 4th quarter. Townsquare Capital LLC now owns 28,509 shares of the bank’s stock worth $864,000 after purchasing an additional 3,782 shares during the period. Legal & General Group Plc increased its holdings in shares of First Financial Bankshares by 1.3% during the 4th quarter. Legal & General Group Plc now owns 203,410 shares of the bank’s stock worth $6,163,000 after buying an additional 2,578 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of First Financial Bankshares by 111.0% during the 4th quarter. Barclays PLC now owns 370,876 shares of the bank’s stock worth $11,238,000 after buying an additional 195,137 shares during the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FFIN shares. Stephens reduced their target price on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday. Truist Financial reduced their target price on First Financial Bankshares from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods upped 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. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.50.

About First Financial Bankshares

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.