First Financial Bankshares, Inc. to Issue Quarterly Dividend of $0.18 (NASDAQ:FFIN)

First Financial Bankshares, Inc. (NASDAQ:FFIN) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.18 per share by the bank on Monday, July 1st. This represents a $0.72 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, June 14th.

First Financial Bankshares has increased its dividend by an average of 11.7% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. First Financial Bankshares has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Financial Bankshares to earn $1.57 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 45.9%.

First Financial Bankshares Stock Performance

Shares of NASDAQ:FFIN opened at $30.87 on Thursday. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 22.05 and a beta of 0.83. The firm has a fifty day moving average price of $30.89 and a 200 day moving average price of $29.44. First Financial Bankshares has a fifty-two week low of $22.84 and a fifty-two week high of $33.15.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.28%. The business had revenue of $129.63 million during the quarter, compared to the consensus estimate of $129.72 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The business’s revenue was up 4.3% on a year-over-year basis. As a group, research analysts predict that First Financial Bankshares will post 1.47 earnings per share for the current year.

Insider Activity

In other First Financial Bankshares news, Director Johnny Trotter acquired 1,500 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was bought at an average price of $30.22 per share, for a total transaction of $45,330.00. Following the acquisition, the director now directly owns 940,371 shares in the company, valued at $28,418,011.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have acquired 3,943 shares of company stock valued at $119,986. 4.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FFIN shares. Stephens reduced their target price on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Keefe, Bruyette & Woods lifted their target price on First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Finally, Truist Financial decreased their price target on First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.33.

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.