First Financial Bankshares, Inc. (FFIN) to Issue Quarterly Dividend of $0.18 on January 2nd

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 paid 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 1.74%. The ex-dividend date of this dividend is Friday, December 13th.

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 every year for the last 13 years. First Financial Bankshares has a dividend payout ratio of 44.2% indicating that 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 Stock Performance

FFIN traded up $0.73 on Wednesday, hitting $41.49. The company had a trading volume of 14,384 shares, compared to its average volume of 532,277. The stock has a fifty day moving average price of $39.08 and a 200-day moving average price of $35.39. First Financial Bankshares has a 12-month low of $27.06 and a 12-month high of $44.66. The stock has a market capitalization of $5.93 billion, a price-to-earnings ratio of 28.11 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last issued its quarterly earnings results on Thursday, October 17th. The bank reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The business had revenue of $142.10 million during 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%. Analysts forecast that First Financial Bankshares will post 1.52 EPS for the current fiscal year.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, Director Michael B. Denny sold 7,000 shares of First Financial Bankshares stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $41.12, for a total value of $287,840.00. Following the transaction, the director now directly owns 101,085 shares in the company, valued at approximately $4,156,615.20. This trade represents a 6.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Hovde Group lifted their target price on First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Stephens boosted their price objective on First Financial Bankshares from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Truist Financial boosted their price target on First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 20th. Finally, Keefe, Bruyette & Woods boosted their price target on First Financial Bankshares from $36.00 to $40.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.