First Financial Bankshares, Inc. (FFIN) to Issue Quarterly Dividend of $0.19 on January 2nd

First Financial Bankshares, Inc. (NASDAQ:FFIN) announced a quarterly dividend on Tuesday, October 28th. Investors of record on Monday, December 15th will be paid a dividend of 0.19 per share by the bank on Friday, January 2nd. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, December 15th.

First Financial Bankshares has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 15 years. First Financial Bankshares has a payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. 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 0.5%

FFIN stock traded down $0.16 during mid-day trading on Friday, hitting $31.59. 1,048,991 shares of the company were exchanged, compared to its average volume of 701,777. First Financial Bankshares has a 1-year low of $29.80 and a 1-year high of $40.97. The business has a 50 day simple moving average of $31.53 and a 200-day simple moving average of $34.36. The stock has a market capitalization of $4.52 billion, a PE ratio of 18.69 and a beta of 0.85.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Friday, October 24th. The bank reported $0.36 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.11). The firm had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.21 million. First Financial Bankshares had a net margin of 29.81% and a return on equity of 14.16%. First Financial Bankshares’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Equities research analysts expect that First Financial Bankshares will post 1.78 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FFIN shares. Hovde Group upgraded shares of First Financial Bankshares from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a research report on Monday, October 27th. Keefe, Bruyette & Woods cut their price objective on First Financial Bankshares from $38.00 to $36.00 and set a “market perform” rating on the stock in a report on Friday, October 24th. Cantor Fitzgerald began coverage on First Financial Bankshares in a report on Wednesday, September 10th. They issued a “neutral” rating and a $39.00 target price for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of First Financial Bankshares in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, First Financial Bankshares currently has a consensus rating of “Hold” and an average target price of $38.00.

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.