First Financial Bankshares, Inc. (NASDAQ:FFIN) to Issue $0.19 Quarterly Dividend

Key Points

• First Financial Bankshares, Inc. has declared a quarterly dividend of $0.19 per share, with an annualized dividend totaling $0.76 and a dividend yield of 2.09%.
• The bank reported earnings of $0.47 per share for the last quarter, exceeding analysts' expectations of $0.45 and showing a significant increase from $0.37 per share the previous year.
• Director Michael B. Denny recently purchased 5,000 shares at an average price of $36.02, increasing his stake in the company by 4.82%.

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) declared a quarterly dividend on Friday, July 25th, Wall Street Journal reports. Investors of record on Monday, September 15th will be given a dividend of 0.19 per share by the bank on Wednesday, October 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Monday, September 15th.

First Financial Bankshares has a dividend payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Financial Bankshares to earn $1.86 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 40.9%.

First Financial Bankshares Trading Down 1.3%

First Financial Bankshares stock traded down $0.49 during trading on Tuesday, hitting $35.89. 394,472 shares of the company were exchanged, compared to its average volume of 507,990. The business's 50 day moving average is $36.18 and its 200 day moving average is $35.80. First Financial Bankshares has a 52 week low of $30.58 and a 52 week high of $44.66. The company has a market capitalization of $5.13 billion, a P/E ratio of 20.87 and a beta of 0.87.

First Financial Bankshares (NASDAQ:FFIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The bank reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. The company had revenue of $156.60 million during the quarter, compared to the consensus estimate of $156.41 million. First Financial Bankshares had a return on equity of 14.69% and a net margin of 31.01%. During the same quarter in the prior year, the company earned $0.37 EPS. Equities analysts expect that First Financial Bankshares will post 1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Hovde Group increased their price objective on First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a research report on Monday, July 21st. Keefe, Bruyette & Woods boosted their price target on First Financial Bankshares from $36.00 to $38.00 and gave the stock a "market perform" rating in a research note on Friday, July 18th.

Insider Buying and Selling

In other news, Director Michael B. Denny acquired 5,000 shares of First Financial Bankshares stock in a transaction that occurred on Friday, June 13th. The stock was bought at an average price of $36.02 per share, for a total transaction of $180,100.00. Following the completion of the transaction, the director owned 108,708 shares in the company, valued at $3,915,662.16. The trade was a 4.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired a total of 6,400 shares of company stock worth $229,220 in the last three months. 3.96% of the stock is currently owned by corporate insiders.

Institutional Trading of First Financial Bankshares

Several hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in First Financial Bankshares by 17.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 396,513 shares of the bank's stock valued at $14,243,000 after purchasing an additional 59,416 shares during the period. Jane Street Group LLC boosted its stake in First Financial Bankshares by 484.7% during the first quarter. Jane Street Group LLC now owns 251,601 shares of the bank's stock valued at $9,038,000 after buying an additional 208,573 shares during the last quarter. AQR Capital Management LLC boosted its stake in First Financial Bankshares by 51.3% during the first quarter. AQR Capital Management LLC now owns 118,437 shares of the bank's stock valued at $4,228,000 after buying an additional 40,173 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of First Financial Bankshares by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,474 shares of the bank's stock valued at $2,783,000 after purchasing an additional 3,382 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in shares of First Financial Bankshares by 10.8% during the 1st quarter. Royal Bank of Canada now owns 64,287 shares of the bank's stock worth $2,309,000 after acquiring an additional 6,290 shares during the last quarter. Institutional investors own 69.78% 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.