First Financial Bankshares Inc (NASDAQ:FFIN) announced a quarterly dividend on Wednesday, October 31st, Wall Street Journal reports. Stockholders of record on Friday, December 14th will be given a dividend of 0.21 per share by the bank on Wednesday, January 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, December 13th.
First Financial Bankshares has increased its dividend by an average of 11.1% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. First Financial Bankshares has a payout ratio of 38.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Financial Bankshares to earn $2.38 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 35.3%.
Shares of FFIN traded down $0.46 during mid-day trading on Wednesday, reaching $58.99. 252,976 shares of the company’s stock traded hands, compared to its average volume of 220,623. The stock has a market cap of $3.86 billion, a PE ratio of 34.70 and a beta of 1.26. First Financial Bankshares has a 12 month low of $43.05 and a 12 month high of $61.86.
First Financial Bankshares (NASDAQ:FFIN) last released its quarterly earnings results on Thursday, October 18th. The bank reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.02. The company had revenue of $96.48 million for the quarter, compared to analysts’ expectations of $97.34 million. First Financial Bankshares had a return on equity of 14.09% and a net margin of 39.25%. The business’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. On average, equities analysts forecast that First Financial Bankshares will post 2.18 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on FFIN. Zacks Investment Research raised First Financial Bankshares from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Wednesday, October 24th. Stephens set a $52.00 target price on First Financial Bankshares and gave the stock a “hold” rating in a report on Monday, October 22nd. Robert W. Baird started coverage on First Financial Bankshares in a report on Tuesday, October 16th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, BidaskClub raised First Financial Bankshares from a “hold” rating to a “buy” rating in a report on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $50.71.
In other news, Director Johnny Trotter bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 23rd. The shares were purchased at an average price of $55.65 per share, with a total value of $111,300.00. Following the completion of the acquisition, the director now directly owns 384,926 shares in the company, valued at $21,421,131.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.77% of the stock is owned by insiders.
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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