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

First Financial Bankshares (NASDAQ:FFIN) issued its quarterly earnings data on Thursday. The bank reported $0.51 EPS for the quarter, topping the consensus estimate 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 Performance

Shares of NASDAQ:FFIN traded down $0.11 during midday trading on Thursday, reaching $33.70. 956,466 shares of the company’s stock traded hands, compared to its average volume of 755,305. First Financial Bankshares has a one year low of $29.43 and a one year high of $39.12. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 19.94 and a beta of 0.84. The stock has a 50 day moving average of $31.25 and a 200 day moving average of $33.42.

First Financial Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 15th were paid a $0.19 dividend. 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 payout ratio is currently 44.97%.

Insider Buying and Selling

In other news, CFO Michelle S. Hickox purchased 2,000 shares of the stock in a transaction dated Tuesday, October 28th. The shares were purchased at an average cost of $31.15 per share, with a total value of $62,300.00. Following the acquisition, the chief financial officer directly owned 24,461 shares of the company’s stock, valued at $761,960.15. This represents a 8.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sally Pope Davis acquired 1,700 shares of First Financial Bankshares stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average price of $30.73 per share, with a total value of $52,241.00. Following the transaction, the director owned 6,971 shares of the company’s stock, valued at $214,218.83. The trade was a 32.25% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 4,353 shares of company stock worth $134,888. 4.22% of the stock is owned by insiders.

Hedge Funds Weigh In On First Financial Bankshares

Several institutional investors have recently made changes to their positions in FFIN. CIBC Private Wealth Group LLC bought a new stake in First Financial Bankshares during the third quarter valued at approximately $50,000. CIBC Bancorp USA Inc. purchased a new position in shares of First Financial Bankshares during the 3rd quarter worth $483,000. Advisory Services Network LLC bought a new stake in shares of First Financial Bankshares during the 3rd quarter valued at $65,000. Verition Fund Management LLC increased its stake in shares of First Financial Bankshares by 1,449.4% in the 3rd quarter. Verition Fund Management LLC now owns 125,407 shares of the bank’s stock worth $4,220,000 after purchasing an additional 117,313 shares in the last quarter. Finally, Quarry LP increased its stake in shares of First Financial Bankshares by 66.3% in the 3rd quarter. Quarry LP now owns 1,026 shares of the bank’s stock worth $35,000 after purchasing an additional 409 shares in the last quarter. Institutional investors own 69.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

First Financial Bankshares Company Profile

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.