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

First Financial Bankshares, Inc. (NASDAQ:FFIN) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.18 per share by the bank on Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, March 14th.

First Financial Bankshares has increased its dividend payment by an average of 7.5% per year over the last three years and has raised its dividend every year for the last 14 years. First Financial Bankshares has a dividend payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Financial Bankshares to earn $1.88 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 38.3%.

First Financial Bankshares Stock Down 0.8 %

Shares of FFIN traded down $0.31 during trading hours on Monday, reaching $36.95. The stock had a trading volume of 278,516 shares, compared to its average volume of 508,483. The company has a market cap of $5.28 billion, a P/E ratio of 23.69 and a beta of 0.83. First Financial Bankshares has a 52 week low of $27.62 and a 52 week high of $44.66. The firm has a 50-day moving average of $38.15 and a 200 day moving average of $37.53.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. First Financial Bankshares had a return on equity of 14.24% and a net margin of 29.69%. As a group, equities analysts expect that First Financial Bankshares will post 1.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of First Financial Bankshares from $40.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Stephens boosted their price objective on shares of 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 increased 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.

Insider Transactions at First Financial Bankshares

In other First Financial Bankshares news, CEO F Scott Dueser sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $40.73, for a total transaction of $1,018,250.00. Following the transaction, the chief executive officer now owns 471,004 shares of the company’s stock, valued at $19,183,992.92. The trade was a 5.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael B. Denny sold 7,000 shares of the company’s 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 sale, the director now owns 101,085 shares in the company, valued at approximately $4,156,615.20. This represents a 6.48 % decrease in their position. The disclosure for this sale can be found here. 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.