First Financial Bankshares (NASDAQ:FFIN) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

First Financial Bankshares (NASDAQ:FFIN) released its quarterly earnings data on Thursday. The bank reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03, Zacks reports. First Financial Bankshares had a net margin of 28.76% and a return on equity of 13.43%.

First Financial Bankshares Stock Up 3.4 %

Shares of First Financial Bankshares stock opened at $37.79 on Friday. First Financial Bankshares has a 52-week low of $27.62 and a 52-week high of $44.66. The company has a 50 day moving average of $38.51 and a 200 day moving average of $37.24. The company has a market capitalization of $5.40 billion, a P/E ratio of 26.06 and a beta of 0.83.

Insider Buying and Selling

In related news, CEO F Scott Dueser sold 25,000 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $40.73, for a total value of $1,018,250.00. Following the completion of the transaction, the chief executive officer now owns 471,004 shares in the company, valued at $19,183,992.92. The trade was a 5.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total transaction of $287,840.00. Following the completion of the transaction, the director now owns 101,085 shares of the company’s stock, valued at $4,156,615.20. This represents a 6.48 % decrease in their position. The disclosure for this sale can be found here. 4.22% of the stock is owned by insiders.

Analyst Ratings Changes

FFIN has been the subject of several research analyst reports. Stephens increased their target price on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on shares of First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Hovde Group raised their price objective on shares of First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research note on Monday, October 21st.

First Financial Bankshares Company Profile

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.