First Financial Bankshares, Inc. (NASDAQ:FFIN) issued its earnings results on Thursday, July 20th. The bank reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01, Briefing.com reports. The business had revenue of $82.25 million for the quarter, compared to the consensus estimate of $87.11 million. First Financial Bankshares had a net margin of 33.03% and a return on equity of 12.41%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share.
First Financial Bankshares (NASDAQ:FFIN) traded down 0.24% during mid-day trading on Wednesday, reaching $40.95. 106,118 shares of the company were exchanged. First Financial Bankshares has a 12 month low of $35.00 and a 12 month high of $46.70. The stock has a market capitalization of $2.69 billion, a P/E ratio of 25.25 and a beta of 1.34. The company’s 50 day moving average price is $42.99 and its 200-day moving average price is $41.45.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Thursday, September 14th. First Financial Bankshares’s dividend payout ratio is currently 46.91%.
In related news, Director Ronald N. Giddiens sold 1,000 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $41.00, for a total value of $41,000.00. Following the completion of the transaction, the director now owns 13,816 shares in the company, valued at approximately $566,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director David L. Copeland sold 684 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $38.00, for a total transaction of $25,992.00. Following the completion of the transaction, the director now owns 33,379 shares of the company’s stock, valued at approximately $1,268,402. The disclosure for this sale can be found here. Insiders purchased a total of 1,855 shares of company stock valued at $72,859 in the last quarter. 5.40% of the stock is currently owned by insiders.
Several brokerages have recently weighed in on FFIN. BidaskClub downgraded shares of First Financial Bankshares from a “sell” rating to a “strong sell” rating in a report on Monday. Stephens set a $39.00 target price on shares of First Financial Bankshares and gave the company a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday, July 26th. Keefe, Bruyette & Woods raised shares of First Financial Bankshares from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $37.00 to $38.00 in a report on Friday, April 21st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $41.00 target price on shares of First Financial Bankshares in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. First Financial Bankshares has a consensus rating of “Hold” and a consensus target price of $42.00.
First Financial Bankshares announced that its board has approved a share repurchase program on Tuesday, July 25th that authorizes the company to buyback 2,000,000 outstanding shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
First Financial Bankshares Company Profile
First Financial Bankshares, Inc is a financial holding company. The Company, through its subsidiaries, conducts commercial banking business. As of December 31, 2016, the Company’s subsidiaries included First Financial Bank, National Association, Abilene, Texas; First Technology Services, Inc, Abilene, Texas; First Financial Trust & Asset Management Company, National Association, Abilene, Texas; First Financial Investments, Inc, Abilene, Texas, and First Financial Insurance Agency, Inc, Abilene, Texas.
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