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

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 paid 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 raised its dividend payment by an average of 11.7% per year 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. 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

NASDAQ:FFIN traded down $0.24 during trading hours on Wednesday, reaching $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 12-month low of $22.84 and a 12-month high of $33.15. The stock has a 50 day simple moving average of $30.88 and a 200 day simple moving average of $29.43. The stock has a market cap of $4.40 billion, a P/E ratio of 22.20 and a beta of 0.83.

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. The business had revenue of $129.63 million for the quarter, compared to the consensus estimate of $129.72 million. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.28%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, equities analysts expect that First Financial Bankshares will post 1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FFIN shares. Truist Financial dropped their target price on First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Keefe, Bruyette & Woods increased their price objective 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, Stephens cut their price target on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. 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.com, First Financial Bankshares has an average rating of “Hold” and an average price target of $31.33.

Insider Activity at First Financial Bankshares

In other news, Director Johnny Trotter purchased 1,500 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was acquired at an average cost 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders bought 3,943 shares of company stock worth $119,986. 4.22% of the stock is owned by insiders.

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.