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

First Financial Bankshares, Inc. (NASDAQ:FFIN) announced a quarterly dividend on Tuesday, July 23rd, Wall Street Journal reports. Investors of record on Thursday, September 12th will be paid a dividend of 0.18 per share by the bank on Tuesday, October 1st. This represents a $0.72 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 12th.

First Financial Bankshares has a payout ratio of 44.4% indicating that its dividend is sufficiently covered by earnings. Research 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 $35.34 on Wednesday. The company has a fifty day moving average price of $34.84 and a 200-day moving average price of $31.89. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 25.73 and a beta of 0.78. First Financial Bankshares has a 1 year low of $22.84 and a 1 year high of $39.53.

First Financial Bankshares (NASDAQ:FFIN) last announced its earnings results on Thursday, July 18th. The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $184.94 million for the quarter, compared to the consensus estimate of $134.10 million. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. On average, research analysts anticipate that First Financial Bankshares will post 1.52 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on FFIN shares. Stephens upped their price objective on First Financial Bankshares from $31.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, July 19th. Truist Financial boosted their target price on First Financial Bankshares from $31.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th.

Insider Activity

In other First Financial Bankshares news, Director Johnny Trotter bought 1,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were acquired at an average cost of $27.79 per share, for a total transaction of $27,790.00. Following the purchase, the director now directly owns 943,371 shares of the company’s stock, valued at $26,216,280.09. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 4.22% of the company’s stock.

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.