First Financial Bankshares (NASDAQ:FFIN) Issues Earnings Results

First Financial Bankshares (NASDAQ:FFIN) posted its quarterly 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. The company had revenue of $129.63 million during the quarter, compared to the consensus estimate of $129.72 million. First Financial Bankshares had a net margin of 31.28% and a return on equity of 14.53%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS.

First Financial Bankshares Price Performance

Shares of FFIN stock opened at $28.80 on Friday. The firm’s 50-day simple moving average is $31.14 and its 200-day simple moving average is $28.81. First Financial Bankshares has a 1-year low of $22.84 and a 1-year high of $33.15. The firm has a market cap of $4.11 billion, a P/E ratio of 20.57 and a beta of 0.82.

First Financial Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.50%. The ex-dividend date was Thursday, March 14th. First Financial Bankshares’s dividend payout ratio (DPR) is 51.43%.

Hedge Funds Weigh In On First Financial Bankshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in shares of First Financial Bankshares during the 1st quarter worth $6,742,000. Charles Schwab Investment Management Inc. grew its holdings in shares of First Financial Bankshares by 2.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,379,898 shares of the bank’s stock worth $60,881,000 after purchasing an additional 39,057 shares during the period. First Trust Advisors LP increased its position in First Financial Bankshares by 13.9% during the 1st quarter. First Trust Advisors LP now owns 216,419 shares of the bank’s stock worth $9,548,000 after purchasing an additional 26,475 shares in the last quarter. Bridgefront Capital LLC purchased a new position in First Financial Bankshares in the first quarter valued at approximately $258,000. Finally, NewEdge Advisors LLC lifted its position in First Financial Bankshares by 2.7% during the first quarter. NewEdge Advisors LLC now owns 34,489 shares of the bank’s stock valued at $1,522,000 after buying an additional 902 shares in the last quarter. Institutional investors and hedge funds own 69.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on FFIN. Stephens lifted their price objective on First Financial Bankshares from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Truist Financial lowered their price objective on shares of 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 lifted their target price on shares of First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.75.

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.