First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Rating) – Equities research analysts at Truist Financial increased their Q2 2022 EPS estimates for shares of First Financial Bankshares in a research report issued to clients and investors on Monday, March 21st. Truist Financial analyst J. Demba now expects that the bank will post earnings of $0.40 per share for the quarter, up from their previous estimate of $0.39. Truist Financial also issued estimates for First Financial Bankshares’ Q1 2023 earnings at $0.37 EPS, Q2 2023 earnings at $0.40 EPS and Q4 2023 earnings at $0.43 EPS.
Several other research firms have also issued reports on FFIN. Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, January 6th. StockNews.com upgraded First Financial Bankshares from a “sell” rating to a “hold” rating in a report on Friday.
Shares of NASDAQ:FFIN opened at $45.40 on Tuesday. The stock’s 50-day moving average price is $47.85. The firm has a market capitalization of $6.47 billion, a price-to-earnings ratio of 29.01 and a beta of 0.88. First Financial Bankshares has a 12 month low of $43.03 and a 12 month high of $55.00. First Financial Bankshares (NASDAQ:FFIN – Get Rating) last released its quarterly earnings data on Thursday, January 27th. The bank reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. First Financial Bankshares had a return on equity of 13.23% and a net margin of 43.88%. The business had revenue of $129.71 million during the quarter, compared to the consensus estimate of $133.28 million. During the same period in the prior year, the firm posted $0.41 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis.
Several hedge funds have recently modified their holdings of the company. Comerica Bank increased its holdings in First Financial Bankshares by 0.4% in the fourth quarter. Comerica Bank now owns 58,241 shares of the bank’s stock valued at $2,889,000 after buying an additional 250 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of First Financial Bankshares by 2.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 11,590 shares of the bank’s stock valued at $589,000 after acquiring an additional 280 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of First Financial Bankshares by 0.9% during the 4th quarter. Louisiana State Employees Retirement System now owns 33,000 shares of the bank’s stock valued at $1,678,000 after acquiring an additional 300 shares in the last quarter. Voya Financial Advisors Inc. raised its position in shares of First Financial Bankshares by 5.7% during the 3rd quarter. Voya Financial Advisors Inc. now owns 6,040 shares of the bank’s stock valued at $277,000 after acquiring an additional 328 shares in the last quarter. Finally, Beacon Pointe Advisors LLC boosted its holdings in First Financial Bankshares by 0.8% in the third quarter. Beacon Pointe Advisors LLC now owns 48,013 shares of the bank’s stock worth $2,206,000 after purchasing an additional 395 shares during the period. 53.50% of the stock is currently owned by institutional investors and hedge funds.
In other First Financial Bankshares news, Director Michael B. Denny bought 10,000 shares of First Financial Bankshares stock in a transaction dated Monday, March 7th. The stock was bought at an average cost of $45.28 per share, for a total transaction of $452,800.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Johnny Trotter purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The stock was bought at an average price of $47.22 per share, with a total value of $118,050.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 17,212 shares of company stock worth $785,094 in the last ninety days. 4.20% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 1st. Investors of record on Wednesday, March 16th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Tuesday, March 15th. First Financial Bankshares’s payout ratio is 37.74%.
About First Financial Bankshares (Get Rating)
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services in Texas. The company accepts checking, savings and money market accounts, and time deposits; commercial and industrial, municipal, agricultural, construction and development, farm, non-owner occupied and owner-occupied commercial real estate, residential, and consumer auto and non-auto loans to businesses, professional individuals, and farm and ranch operations.
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