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

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 given a dividend of 0.18 per share by the bank on Monday, July 1st. This represents a $0.72 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, June 14th.

First Financial Bankshares has raised its dividend payment by an average of 11.7% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. First Financial Bankshares has a dividend 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 Stock Performance

Shares of First Financial Bankshares stock opened at $31.07 on Friday. The firm has a fifty day moving average of $30.89 and a two-hundred day moving average of $29.45. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 22.19 and a beta of 0.83. First Financial Bankshares has a 52 week low of $22.84 and a 52 week high of $33.15.

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

Insider Buying and Selling

In related news, Director Johnny Trotter bought 1,500 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, April 25th. The stock was purchased at an average cost of $30.22 per share, with a total value of $45,330.00. Following the purchase, the director now owns 940,371 shares in the company, valued at $28,418,011.62. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders purchased 3,943 shares of company stock valued at $119,986. Company insiders own 4.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FFIN shares. Stephens decreased their price target on shares of 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. Truist Financial decreased their price target on shares of First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, First Financial Bankshares 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.