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

First Financial Bankshares, Inc. (NASDAQ:FFIN) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.18 per share by the bank on Monday, July 1st. This represents a $0.72 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, June 14th.

First Financial Bankshares has increased its dividend payment by an average of 11.7% annually over the last three years and has increased its dividend every year for the last 13 years. First Financial Bankshares has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First Financial Bankshares to earn $1.57 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 45.9%.

First Financial Bankshares Stock Down 0.7 %

First Financial Bankshares stock opened at $30.87 on Thursday. The company has a fifty day simple moving average of $30.89 and a 200-day simple moving average of $29.44. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 22.05 and a beta of 0.83. First Financial Bankshares has a 52-week low of $22.84 and a 52-week high of $33.15.

First Financial Bankshares (NASDAQ:FFIN) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. First Financial Bankshares had a net margin of 30.03% and a return on equity of 14.28%. The company had revenue of $129.63 million during the quarter, compared to analysts’ expectations of $129.72 million. During the same quarter in the prior year, the company earned $0.39 EPS. First Financial Bankshares’s revenue was up 4.3% compared to the same quarter last year. On average, research analysts anticipate that First Financial Bankshares will post 1.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Financial Bankshares news, Director Johnny Trotter purchased 1,500 shares of the firm’s stock in a transaction dated Thursday, April 25th. The shares were acquired at an average price of $30.22 per share, with a total value of $45,330.00. Following the purchase, the director now directly owns 940,371 shares in the company, valued at approximately $28,418,011.62. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders acquired a total of 3,943 shares of company stock valued at $119,986 over the last quarter. 4.22% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Truist Financial cut their price target on First Financial Bankshares from $34.00 to $32.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Stephens reduced their price target on First Financial Bankshares from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Financial Bankshares from $30.00 to $31.00 and gave the company a “market perform” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.33.

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.