First Financial Bankshares (NASDAQ:FFIN) Posts Quarterly Earnings Results

First Financial Bankshares (NASDAQ:FFIN) announced its quarterly earnings data on Thursday. The bank reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03, Zacks reports. The company had revenue of $166.89 million for the quarter, compared to analysts’ expectations of $166.78 million. First Financial Bankshares had a return on equity of 14.43% and a net margin of 31.00%.During the same quarter in the prior year, the business posted $0.43 EPS.

First Financial Bankshares Price Performance

Shares of First Financial Bankshares stock opened at $32.47 on Friday. The business has a fifty day simple moving average of $31.02 and a two-hundred day simple moving average of $31.48. First Financial Bankshares has a 1 year low of $28.11 and a 1 year high of $38.74. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 17.65 and a beta of 0.82.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.76 annualized dividend and a yield of 2.3%. First Financial Bankshares’s dividend payout ratio (DPR) is currently 42.94%.

Insider Transactions at First Financial Bankshares

In related news, Director Geoff Haney acquired 10,200 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were bought at an average cost of $33.18 per share, with a total value of $338,436.00. Following the completion of the transaction, the director directly owned 32,146 shares of the company’s stock, valued at $1,066,604.28. This trade represents a 46.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sally Pope Davis purchased 1,800 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $29.52 per share, for a total transaction of $53,136.00. Following the purchase, the director owned 10,371 shares in the company, valued at $306,151.92. The trade was a 21.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 21,629 shares of company stock valued at $681,060. Corporate insiders own 3.80% of the company’s stock.

Institutional Trading of First Financial Bankshares

Several institutional investors have recently added to or reduced their stakes in the company. Sciencast Management LP bought a new position in First Financial Bankshares in the fourth quarter valued at approximately $443,000. Mercer Global Advisors Inc. ADV boosted its holdings in shares of First Financial Bankshares by 69.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 12,848 shares of the bank’s stock valued at $432,000 after purchasing an additional 5,258 shares in the last quarter. Cerity Partners LLC bought a new position in shares of First Financial Bankshares in the 2nd quarter valued at $386,000. Franklin Resources Inc. acquired a new position in shares of First Financial Bankshares during the 3rd quarter worth $327,000. Finally, Quantinno Capital Management LP raised its holdings in shares of First Financial Bankshares by 30.3% during the 2nd quarter. Quantinno Capital Management LP now owns 7,950 shares of the bank’s stock worth $286,000 after buying an additional 1,848 shares in the last quarter. 69.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FFIN. Weiss Ratings restated a “hold (c)” rating on shares of First Financial Bankshares in a report on Wednesday, April 8th. Keefe, Bruyette & Woods decreased their price objective on shares of First Financial Bankshares from $36.00 to $34.00 and set a “market perform” rating for the company in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.33.

About First Financial Bankshares

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company’s core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.