First Financial Bankshares Inc (FFIN) to Issue Quarterly Dividend of $0.12 on October 1st
First Financial Bankshares Inc (NASDAQ:FFIN) declared a quarterly dividend on Tuesday, July 23rd, NASDAQ reports. Investors of record on Monday, September 16th will be paid a dividend of 0.12 per share by the bank on Tuesday, October 1st. This represents a $0.48 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Friday, September 13th.
First Financial Bankshares has increased its dividend by an average of 10.1% per year over the last three years and has increased its dividend every year for the last 8 years. First Financial Bankshares has a payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Financial Bankshares to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 38.1%.
NASDAQ:FFIN traded up $0.61 during mid-day trading on Wednesday, hitting $32.93. 21,299 shares of the company’s stock traded hands, compared to its average volume of 304,416. The company has a fifty day moving average of $31.22 and a 200 day moving average of $45.69. First Financial Bankshares has a twelve month low of $26.73 and a twelve month high of $33.43. The company has a market capitalization of $4.32 billion, a P/E ratio of 30.23 and a beta of 1.18.
Several analysts have weighed in on the stock. BidaskClub raised shares of First Financial Bankshares from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Stephens reiterated a “hold” rating and set a $30.00 price objective on shares of First Financial Bankshares in a research note on Friday, July 19th. ValuEngine lowered shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th. Zacks Investment Research lowered shares of First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Finally, Piper Jaffray Companies set a $29.00 target price on First Financial Bankshares and gave the company a “hold” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $30.75.
About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
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