First Financial Bankshares, Inc. (FFIN) to Issue Quarterly Dividend of $0.18 on July 1st

First Financial Bankshares, Inc. (NASDAQ:FFIN) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors of record on Friday, June 14th will be paid a dividend of 0.18 per share by the bank on Monday, July 1st. This represents a $0.72 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, June 14th.

First Financial Bankshares has raised its dividend by an average of 11.7% annually over the last three years and has raised its dividend every year for the last 13 years. First Financial Bankshares has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. 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 FFIN opened at $31.07 on Friday. The company has a market capitalization of $4.44 billion, a P/E ratio of 22.19 and a beta of 0.83. First Financial Bankshares has a one year low of $22.84 and a one year high of $33.15. The stock has a 50-day moving average price of $30.89 and a 200 day moving average price of $29.45.

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

Insider Transactions at First Financial Bankshares

In related news, Director Johnny Trotter purchased 1,500 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were acquired at an average cost of $30.22 per share, for a total transaction of $45,330.00. Following the transaction, the director now owns 940,371 shares of the company’s stock, valued at $28,418,011.62. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have purchased 3,943 shares of company stock worth $119,986. 4.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on FFIN shares. Stephens reduced their price target on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Keefe, Bruyette & Woods increased 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 reduced their target price 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 analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.