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. Investors 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 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 payout ratio of 46.5% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.8 %

NASDAQ:FFIN traded down $0.24 during trading hours on Wednesday, hitting $30.84. The stock had a trading volume of 118,052 shares, compared to its average volume of 497,114. First Financial Bankshares has a 1-year low of $22.84 and a 1-year high of $33.15. The company has a market cap of $4.40 billion, a PE ratio of 22.20 and a beta of 0.83. The business has a 50 day simple moving average of $30.88 and a two-hundred day simple moving average of $29.43.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Tuesday, April 23rd. The bank reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $129.63 million for the quarter, compared to analyst estimates of $129.72 million. First Financial Bankshares had a return on equity of 14.28% and a net margin of 30.03%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. Research analysts expect that First Financial Bankshares will post 1.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Johnny Trotter bought 1,500 shares of the stock in a transaction dated 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 purchase, the director now directly owns 940,371 shares in the company, valued at approximately $28,418,011.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought 3,943 shares of company stock worth $119,986 in the last three months. 4.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on First Financial Bankshares from $30.00 to $31.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Stephens reduced their price target on shares of First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. Finally, Truist Financial lowered their target price on shares of First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the stock 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.