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, July 31st, Wall Street Journal reports. Shareholders of record on Thursday, September 12th will be given a dividend of 0.18 per share by the bank on Tuesday, October 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, September 12th.

First Financial Bankshares has increased its dividend 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 44.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Financial Bankshares to earn $1.61 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 44.7%.

First Financial Bankshares Trading Down 5.1 %

NASDAQ:FFIN opened at $36.51 on Friday. The firm has a fifty day simple moving average of $31.15 and a 200 day simple moving average of $30.96. First Financial Bankshares has a 1-year low of $22.84 and a 1-year high of $39.53. The stock has a market capitalization of $5.22 billion, a PE ratio of 26.08 and a beta of 0.79.

First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings data on Thursday, July 18th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. First Financial Bankshares had a return on equity of 14.01% and a net margin of 29.13%. The firm had revenue of $184.94 million for the quarter, compared to analyst estimates of $134.10 million. On average, equities analysts predict that First Financial Bankshares will post 1.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Johnny Trotter acquired 1,000 shares of the stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of $27.79 per share, for a total transaction of $27,790.00. Following the completion of the transaction, the director now directly owns 943,371 shares of the company’s stock, valued at $26,216,280.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Financial Bankshares news, Director Sally Pope Davis acquired 1,800 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were purchased at an average cost of $28.75 per share, with a total value of $51,750.00. Following the completion of the purchase, the director now owns 1,800 shares of the company’s stock, valued at $51,750. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Johnny Trotter acquired 1,000 shares of First Financial Bankshares stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $27.79 per share, with a total value of $27,790.00. Following the completion of the acquisition, the director now directly owns 943,371 shares of the company’s stock, valued at $26,216,280.09. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 3,550 shares of company stock valued at $102,760. 4.22% of the stock is currently owned by insiders.

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.