First Financial Bankshares (NASDAQ:FFIN) Posts Earnings Results, Beats Expectations By $0.03 EPS

by · The Cerbat Gem

First Financial Bankshares (NASDAQ:FFIN – Get Free Report) posted its earnings results on Thursday. The bank reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03, Zacks reports. First Financial Bankshares had a net margin of 29.81% and a return on equity of 14.16%.

First Financial Bankshares Stock Down 0.3%

FFIN traded down $0.11 during trading hours on Thursday, hitting $33.70. The stock had a trading volume of 956,466 shares, compared to its average volume of 755,305. First Financial Bankshares has a 1 year low of $29.43 and a 1 year high of $39.12. The company’s fifty day simple moving average is $31.25 and its 200 day simple moving average is $33.42. The stock has a market cap of $4.83 billion, a PE ratio of 19.94 and a beta of 0.84.

First Financial Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, December 15th. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. First Financial Bankshares’s dividend payout ratio is presently 44.97%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FFIN shares. Hovde Group upgraded First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 target price on the stock in a report on Monday, October 27th. Keefe, Bruyette & Woods lowered their price target on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating for the company in a research report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a report on Friday, January 9th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, First Financial Bankshares currently has an average rating of “Hold” and an average target price of $38.00.

Read Our Latest Stock Analysis on FFIN

Insider Activity

In other First Financial Bankshares news, CFO Michelle S. Hickox purchased 2,000 shares of the stock in a transaction dated Tuesday, October 28th. The shares were bought at an average price of $31.15 per share, with a total value of $62,300.00. Following the completion of the transaction, the chief financial officer directly owned 24,461 shares in the company, valued at approximately $761,960.15. This trade represents a 8.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sally Pope Davis purchased 1,700 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were acquired at an average price of $30.73 per share, for a total transaction of $52,241.00. Following the completion of the purchase, the director directly owned 6,971 shares in the company, valued at $214,218.83. This represents a 32.25% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 4,353 shares of company stock worth $134,888. Insiders own 4.22% of the company’s stock.

Institutional Investors Weigh In On First Financial Bankshares

Several institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its position in shares of First Financial Bankshares by 152.1% in the third quarter. Russell Investments Group Ltd. now owns 36,477 shares of the bank’s stock worth $1,227,000 after purchasing an additional 22,010 shares during the last quarter. Entropy Technologies LP bought a new stake in First Financial Bankshares during the third quarter valued at approximately $739,000. Brooklyn Investment Group grew its stake in First Financial Bankshares by 342.0% in the 3rd quarter. Brooklyn Investment Group now owns 15,217 shares of the bank’s stock worth $512,000 after buying an additional 11,774 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of First Financial Bankshares by 14.9% in the 3rd quarter. Mackenzie Financial Corp now owns 14,533 shares of the bank’s stock worth $489,000 after buying an additional 1,886 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of First Financial Bankshares during the 3rd quarter valued at $483,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.

First Financial Bankshares Company Profile

(Get Free Report)

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.

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