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

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors of record on Friday, June 14th will be given 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 raised 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 Performance

First Financial Bankshares stock traded down $0.21 during trading on Wednesday, reaching $30.87. The company had a trading volume of 288,048 shares, compared to its average volume of 499,125. First Financial Bankshares has a 12-month low of $22.84 and a 12-month high of $33.15. The stock's 50 day moving average price is $30.89 and its two-hundred day moving average price is $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 (NASDAQ:FFIN - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.37 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $129.72 million. During the same period in the previous year, the firm earned $0.39 earnings per share. First Financial Bankshares's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, research analysts expect that First Financial Bankshares will post 1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Truist Financial reduced their target price on shares of First Financial Bankshares from $34.00 to $32.00 and set a "hold" rating on the stock in a research report on Monday, April 22nd. Keefe, Bruyette & Woods increased their price objective on shares of First Financial Bankshares from $30.00 to $31.00 and gave the stock a "market perform" rating in a report on Friday, January 26th. Finally, Stephens dropped their price objective on shares of 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. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $31.33.

Insider Activity

In other news, Director Johnny Trotter bought 1,500 shares of the stock in a transaction on Thursday, April 25th. The shares were purchased at an average price of $30.22 per share, for a total transaction of $45,330.00. Following the completion of the purchase, the director now directly owns 940,371 shares of the company's stock, valued at approximately $28,418,011.62. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders acquired 3,943 shares of company stock worth $119,986 over the last quarter. Corporate insiders own 4.22% of the company's stock.

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.