First Financial Bankshares, Inc. (NASDAQ:FFIN) Declares Quarterly Dividend of $0.22

Key Points

• First Financial declared a quarterly dividend of $0.22, payable July 1 to shareholders of record on June 12 (ex-dividend date June 12); this is a 15.8% increase from the prior quarterly payout and implies a ~2.7% yield.
• The dividend appears well-covered: First Financial has raised its payout for 15 consecutive years and carries a payout ratio of 40.6%, with analysts forecasting $2.10 EPS next year (implying an expected payout ratio of ~36.2%).
• The bank beat Q1 estimates with $0.50 EPS (versus $0.47 expected); the stock trades near $32.50 with a market cap of about $4.65 billion and a P/E around 17.7.

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) declared a quarterly dividend on Tuesday, April 28th. Stockholders of record on Friday, June 12th will be given a dividend of 0.22 per share by the bank on Wednesday, July 1st. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, June 12th. This is a 15.8% increase from First Financial Bankshares's previous quarterly dividend of $0.19.

First Financial Bankshares has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 15 consecutive years. First Financial Bankshares has a dividend payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Financial Bankshares to earn $2.10 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 36.2%.

First Financial Bankshares Stock Down 0.6%

FFIN stock opened at $32.50 on Wednesday. The stock has a market cap of $4.65 billion, a PE ratio of 17.65 and a beta of 0.82. The firm's 50-day simple moving average is $30.83 and its 200 day simple moving average is $31.41. First Financial Bankshares has a fifty-two week low of $28.11 and a fifty-two week high of $38.74.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its earnings results on Friday, April 17th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The firm had revenue of $166.89 million during the quarter, compared to analyst estimates of $166.78 million. First Financial Bankshares had a net margin of 31.00% and a return on equity of 14.20%. During the same period in the previous year, the business posted $0.43 EPS. Equities analysts forecast that First Financial Bankshares will post 2.04 EPS for the current fiscal year.

About First Financial Bankshares

First Financial Bankshares, Inc is a regional bank holding company headquartered in Cincinnati, Ohio. Through its primary subsidiary, First Financial Bank, the company offers a full suite of banking products and services to individual, small business and commercial clients. With roots dating back to 1863, First Financial has cultivated a strong community banking heritage, combining personalized service with modern financial solutions.

The company's core business activities include commercial and consumer lending, deposit products, treasury management, mortgage origination and servicing, and wealth management.

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