Analysts forecast that First Financial Bankshares Inc (NASDAQ:FFIN) will announce sales of $100.00 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for First Financial Bankshares’ earnings. First Financial Bankshares reported sales of $95.39 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The firm is scheduled to issue its next quarterly earnings results on Thursday, July 18th.
According to Zacks, analysts expect that First Financial Bankshares will report full-year sales of $401.15 million for the current fiscal year, with estimates ranging from $400.30 million to $402.00 million. For the next financial year, analysts forecast that the company will report sales of $426.15 million, with estimates ranging from $420.20 million to $432.10 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow First Financial Bankshares.
First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, April 18th. The bank reported $0.28 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. The company had revenue of $95.77 million during the quarter, compared to analyst estimates of $96.90 million. First Financial Bankshares had a net margin of 38.47% and a return on equity of 15.03%. During the same period last year, the business earned $0.26 EPS.
Several analysts recently commented on FFIN shares. BidaskClub downgraded shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Zacks Investment Research raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating and set a $32.50 price objective on the stock in a research report on Monday, April 1st. Stephens reissued a “neutral” rating and set a $28.50 price objective on shares of First Financial Bankshares in a research report on Monday, April 22nd. Finally, ValuEngine downgraded shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.33.
Shares of First Financial Bankshares stock traded up $0.93 during trading on Friday, hitting $30.74. The company’s stock had a trading volume of 462,873 shares, compared to its average volume of 811,093. First Financial Bankshares has a 52 week low of $25.27 and a 52 week high of $33.42. The business’s fifty day moving average price is $46.11. The firm has a market capitalization of $8.06 billion, a P/E ratio of 28.04 and a beta of 1.16.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, June 14th. First Financial Bankshares’s payout ratio is presently 44.04%.
In other First Financial Bankshares news, Director Johnny Trotter acquired 2,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $60.67 per share, for a total transaction of $121,340.00. Following the purchase, the director now directly owns 405,913 shares of the company’s stock, valued at $24,626,741.71. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director David L. Copeland sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $61.68, for a total transaction of $308,400.00. Following the completion of the transaction, the director now owns 34,094 shares in the company, valued at approximately $2,102,917.92. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 10,511 shares of company stock worth $643,239. Insiders own 4.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FFIN. Metropolitan Life Insurance Co NY grew its holdings in shares of First Financial Bankshares by 84.4% in the first quarter. Metropolitan Life Insurance Co NY now owns 38,231 shares of the bank’s stock valued at $2,208,000 after purchasing an additional 17,496 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in shares of First Financial Bankshares by 147.8% in the first quarter. MetLife Investment Advisors LLC now owns 69,156 shares of the bank’s stock valued at $3,996,000 after purchasing an additional 41,247 shares in the last quarter. Marshall Wace LLP purchased a new position in First Financial Bankshares during the first quarter worth $604,000. Kayne Anderson Rudnick Investment Management LLC boosted its stake in First Financial Bankshares by 3.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,617,135 shares of the bank’s stock worth $93,438,000 after buying an additional 52,340 shares during the period. Finally, GWM Advisors LLC purchased a new position in First Financial Bankshares during the first quarter worth $1,304,000. Institutional investors own 55.53% of the company’s stock.
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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