Brokerages expect First Financial Bankshares Inc (NASDAQ:FFIN) to announce earnings of $0.56 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for First Financial Bankshares’ earnings. First Financial Bankshares reported earnings of $0.44 per share in the same quarter last year, which would suggest a positive year over year growth rate of 27.3%. The firm is expected to issue its next earnings results on Thursday, October 18th.
According to Zacks, analysts expect that First Financial Bankshares will report full year earnings of $2.19 per share for the current financial year, with EPS estimates ranging from $2.18 to $2.19. For the next fiscal year, analysts forecast that the firm will report earnings of $2.29 per share, with EPS estimates ranging from $2.19 to $2.39. Zacks’ EPS averages are a mean average based on a survey of research firms that cover First Financial Bankshares.
First Financial Bankshares (NASDAQ:FFIN) last posted its quarterly earnings data on Thursday, July 19th. The bank reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. First Financial Bankshares had a net margin of 37.86% and a return on equity of 13.29%. The company had revenue of $93.10 million during the quarter, compared to the consensus estimate of $93.10 million. During the same period in the prior year, the business posted $0.43 EPS. The company’s quarterly revenue was up 13.1% on a year-over-year basis.
A number of equities research analysts have recently issued reports on FFIN shares. Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Monday, July 23rd. BidaskClub raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. First Financial Bankshares currently has a consensus rating of “Hold” and an average target price of $48.80.
Shares of First Financial Bankshares stock traded up $0.25 during trading hours on Wednesday, reaching $60.85. 7,780 shares of the company’s stock were exchanged, compared to its average volume of 171,495. First Financial Bankshares has a fifty-two week low of $37.31 and a fifty-two week high of $61.00. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 35.82 and a beta of 1.25.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 17th will be issued a $0.21 dividend. The ex-dividend date is Friday, September 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.38%. First Financial Bankshares’s payout ratio is 49.41%.
In other news, Director Johnny Trotter bought 1,000 shares of the company’s stock in a transaction dated Thursday, June 14th. The shares were bought at an average cost of $53.43 per share, with a total value of $53,430.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.77% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Smith Asset Management Group LP raised its holdings in First Financial Bankshares by 10.8% in the 2nd quarter. Smith Asset Management Group LP now owns 13,800 shares of the bank’s stock valued at $702,000 after acquiring an additional 1,350 shares during the period. Amalgamated Bank raised its holdings in First Financial Bankshares by 16.3% in the 2nd quarter. Amalgamated Bank now owns 10,614 shares of the bank’s stock valued at $540,000 after acquiring an additional 1,485 shares during the period. Royal Bank of Canada raised its holdings in First Financial Bankshares by 36.5% in the 1st quarter. Royal Bank of Canada now owns 15,610 shares of the bank’s stock valued at $722,000 after acquiring an additional 4,174 shares during the period. Natixis Advisors L.P. raised its holdings in First Financial Bankshares by 6.0% in the 1st quarter. Natixis Advisors L.P. now owns 161,444 shares of the bank’s stock valued at $7,475,000 after acquiring an additional 9,108 shares during the period. Finally, Prudential Financial Inc. raised its holdings in First Financial Bankshares by 3.8% in the 1st quarter. Prudential Financial Inc. now owns 113,732 shares of the bank’s stock valued at $5,266,000 after acquiring an additional 4,180 shares during the period. 53.78% of the stock is currently owned by hedge funds and other institutional investors.
About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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