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

First Financial Bankshares, Inc. (NASDAQ:FFIN) declared a quarterly dividend on Tuesday, October 22nd,Wall Street Journal reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.18 per share by the bank on Thursday, January 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, December 13th.

First Financial Bankshares has increased 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 44.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Financial Bankshares to earn $1.63 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 44.2%.

First Financial Bankshares Price Performance

NASDAQ FFIN opened at $41.12 on Wednesday. The company has a market cap of $5.88 billion, a PE ratio of 28.11 and a beta of 0.81. The stock’s 50 day simple moving average is $39.08 and its 200-day simple moving average is $35.39. First Financial Bankshares has a 1-year low of $27.06 and a 1-year high of $44.66.

First Financial Bankshares (NASDAQ:FFIN) last released its earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $142.10 million for the quarter, compared to the consensus estimate of $140.25 million. First Financial Bankshares had a return on equity of 13.43% and a net margin of 28.76%. On average, equities research analysts anticipate that First Financial Bankshares will post 1.52 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael B. Denny sold 7,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $41.12, for a total value of $287,840.00. Following the completion of the sale, the director now directly owns 101,085 shares of the company’s stock, valued at $4,156,615.20. This represents a 6.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.22% of the stock is owned by company insiders.

Analyst Ratings Changes

FFIN has been the subject of several recent analyst reports. Stephens raised their target price on First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Hovde Group boosted their price objective on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods boosted their price objective on First Financial Bankshares from $36.00 to $40.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Truist Financial boosted their price objective on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 20th.

First Financial Bankshares Company Profile

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.