First Financial Bankshares (NASDAQ:FFIN) Issues Quarterly Earnings Results, Misses Expectations By $0.11 EPS

First Financial Bankshares (NASDAQ:FFIN) announced its earnings results on Thursday. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.11), Zacks reports. First Financial Bankshares had a return on equity of 14.48% and a net margin of 29.81%.The firm had revenue of $162.06 million for the quarter, compared to the consensus estimate of $161.21 million. During the same period in the previous year, the firm earned $0.37 EPS. First Financial Bankshares’s revenue for the quarter was up 15.6% on a year-over-year basis.

First Financial Bankshares Stock Down 2.3%

Shares of NASDAQ:FFIN opened at $31.12 on Friday. The company’s fifty day moving average is $34.72 and its two-hundred day moving average is $35.03. First Financial Bankshares has a 12-month low of $30.50 and a 12-month high of $44.66. The company has a market cap of $4.45 billion, a P/E ratio of 18.41 and a beta of 0.86.

Institutional Trading of First Financial Bankshares

Several large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in First Financial Bankshares by 32.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 1,661 shares of the bank’s stock valued at $60,000 after purchasing an additional 406 shares during the period. Captrust Financial Advisors raised its stake in First Financial Bankshares by 7.1% during the 2nd quarter. Captrust Financial Advisors now owns 6,244 shares of the bank’s stock valued at $225,000 after purchasing an additional 413 shares during the period. Holocene Advisors LP raised its stake in First Financial Bankshares by 1.5% during the 2nd quarter. Holocene Advisors LP now owns 70,707 shares of the bank’s stock valued at $2,544,000 after purchasing an additional 1,032 shares during the period. State of Wyoming acquired a new stake in First Financial Bankshares during the 2nd quarter valued at $54,000. Finally, EverSource Wealth Advisors LLC raised its stake in First Financial Bankshares by 404.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,928 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,546 shares during the period. 69.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FFIN. Cantor Fitzgerald began coverage on First Financial Bankshares in a report on Wednesday, September 10th. They set a “neutral” rating and a $39.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Financial Bankshares in a report on Tuesday, October 14th. Keefe, Bruyette & Woods dropped their price target on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a report on Friday. Finally, Hovde Group upped their price target on First Financial Bankshares from $38.00 to $39.00 and gave the company a “market perform” rating in a report on Monday, July 21st. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $38.00.

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.