First Financial Bankshares, Inc. (NASDAQ:FFIN) Plans $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. Stockholders 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 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Monday, September 15th.

First Financial Bankshares has a payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of FFIN stock traded down $0.41 during mid-day trading on Friday, hitting $36.45. The company had a trading volume of 436,188 shares, compared to its average volume of 533,456. First Financial Bankshares has a 52-week low of $30.58 and a 52-week high of $44.66. The stock's 50 day moving average price is $36.16 and its 200-day moving average price is $35.79. The company has a market capitalization of $5.21 billion, a P/E ratio of 21.19 and a beta of 0.87.

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

Insider Buying and Selling

In related news, Director Michael B. Denny purchased 5,000 shares of First Financial Bankshares stock in a transaction that occurred on Friday, June 13th. The shares were bought at an average price of $36.02 per share, with a total value of $180,100.00. Following the purchase, the director directly owned 108,708 shares of the company's stock, valued at approximately $3,915,662.16. This represents a 4.82% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have bought 6,400 shares of company stock valued at $229,220. Company insiders own 4.22% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC purchased a new position in First Financial Bankshares in the 1st quarter worth about $1,760,000. Royal Bank of Canada grew its holdings in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 worth $2,783,000 after acquiring an additional 3,382 shares in the last quarter. AQR Capital Management LLC grew its holdings in First Financial Bankshares by 51.3% during the 1st quarter. AQR Capital Management LLC now owns 118,437 shares of the bank's stock worth $4,228,000 after acquiring an additional 40,173 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in First Financial Bankshares by 484.7% during the 1st quarter. Jane Street Group LLC now owns 251,601 shares of the bank's stock worth $9,038,000 after acquiring an additional 208,573 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company's stock.

Analysts Set New Price Targets

FFIN has been the topic of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of First Financial Bankshares from $36.00 to $38.00 and gave the company a "market perform" rating in a research report on Friday, July 18th. Hovde Group increased their target price on shares of First Financial Bankshares from $38.00 to $39.00 and gave the company a "market perform" rating in a research note on Monday.

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.

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