Eye Catching Stock News: First Financial Bankshares (NASDAQ:FFIN) reports earnings for the fourth quarter of 2019

First Financial Bankshares (NASDAQ:FFIN) stock identified change of 25.84% away from 52-week low price and recently located move of -6.34% off 52-week high price. It has market worth of $4.71BM and dividend yield of 1.41%. FFIN stock has been recorded -1.89% away from 50 day moving average and 5.88% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.80% off 20-day moving average.

On Jan. 24, 2020, First Financial Bankshares (NASDAQ:FFIN)  disclosed earnings for the fourth quarter of 2019 of $41.39 million, up $2.95 million or 7.68 percent when compared with earnings of $38.44 million in the same quarter last year. Basic earnings per share were $0.30 for the fourth quarter of 2019 compared with $0.28 in the same quarter a year ago. Included in noninterest expense in the fourth quarter of 2019 was $1.70 million, before income tax, resulting from the Company’s completed termination of its defined benefit pension plan (see below for more details).

On April 23, 2019, the Company’s Board of Directors declared a two-for-one stock split in the form of a 100 percent stock dividend, which was effective June 3, 2019.  All share and per share amounts in this earnings release have been restated to reflect this stock split.

Net interest income for the fourth quarter of 2019 was $75.32 million compared with $70.27 million in the same quarter of 2018. The net interest margin, on a taxable equivalent basis, was 3.99 percent for the fourth quarter of 2019 compared to 3.94 percent in the third quarter of 2019 and 4.02 percent in the fourth quarter of 2018. Included in interest income for the fourth quarter of 2019 was $384 thousand, or two basis points in net interest margin, related to discount accretion from fair value accounting related to the Kingwood and Orange acquisitions. Amounts related to discount accretion for the third quarter of 2019 and fourth quarter of 2018 were $415 thousand (or two basis points) and $491 thousand (or two basis points), respectively.

The Financial sector company, First Financial Bankshares noticed change of 0.09% to $34.14 along volume of 493409 shares in recent session compared to an average volume of 346.96K. The stock observed return of 0.26% in 5 days trading activity. The stock was at -4.58% over one month performance. FFIN’s shares are at -3.50% for the quarter and driving a 8.81% return over the course of the past year and is now at -2.74% since this point in 2018.

The average volatility for the week at 2.04% and for month was at 1.58%. There are 138.01M shares outstanding and 135.36M shares are floated in market. Right now the stock beta is 1.07.

John Gonzalez covers business and finance news. He is the only person we trust to provide breaking news in the finance category. Having already completed an Associates Degree in Psychology, John Gonzalez is now finishing his Bachelor’s degree in Communications. In preparation for working in the advertisement sector, John is writing financial content and analysis. On a daily basis, he works on articles regarding the following topics: business, top trends, technology, and politics.

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