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

First Financial Bankshares, Inc. (NASDAQ:FFIN) declared a quarterly dividend on Tuesday, October 22nd,Wall Street Journal reports. Investors 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 yield of 1.74%. The ex-dividend date is Friday, December 13th.

First Financial Bankshares has raised its dividend by an average of 11.7% per year over the last three years and has increased its dividend annually for the last 13 consecutive years. First Financial Bankshares has a 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 Up 1.8 %

Shares of NASDAQ 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 firm has a market capitalization of $5.93 billion, a P/E ratio of 28.11 and a beta of 0.81. First Financial Bankshares has a 12-month low of $27.06 and a 12-month high of $44.66. The business has a 50 day moving average of $39.08 and a two-hundred day moving average of $35.39.

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

Insider Activity

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 transaction of $287,840.00. Following the sale, the director now directly owns 101,085 shares of the company’s stock, valued at approximately $4,156,615.20. The trade was a 6.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Truist Financial raised their target price on First Financial Bankshares from $39.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Keefe, Bruyette & Woods raised their target price on First Financial Bankshares from $36.00 to $40.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Stephens raised their target price 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. Finally, Hovde Group raised their target price on First Financial Bankshares from $34.50 to $40.00 and gave the company a “market perform” rating in a research report on Monday, October 21st.

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.