First Financial Bankshares, Inc. (NASDAQ:FFIN) to Issue $0.22 Quarterly Dividend

First Financial Bankshares, Inc. (NASDAQ:FFIN) announced a quarterly dividend on Tuesday, July 28th. Investors of record on Monday, September 14th will be given a dividend of 0.22 per share by the bank on Thursday, October 1st. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, September 14th.

First Financial Bankshares has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 15 years. First Financial Bankshares has a dividend payout ratio of 47.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First Financial Bankshares to earn $2.11 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 41.7%.

First Financial Bankshares Stock Performance

Shares of First Financial Bankshares stock opened at $33.16 on Friday. The firm has a 50-day moving average of $34.37 and a 200-day moving average of $32.67. First Financial Bankshares has a 52-week low of $28.11 and a 52-week high of $36.52. The stock has a market cap of $4.75 billion, a PE ratio of 17.73 and a beta of 0.81.

First Financial Bankshares (NASDAQ:FFIN) last issued its earnings results on Friday, July 17th. The bank reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. First Financial Bankshares had a net margin of 31.03% and a return on equity of 14.00%. The company had revenue of $172.76 million during the quarter, compared to analysts’ expectations of $173.03 million. During the same period in the previous year, the company earned $0.47 EPS. Equities research analysts predict that First Financial Bankshares will post 2.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FFIN shares. Weiss Ratings upgraded First Financial Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Benchmark assumed coverage on First Financial Bankshares in a research report on Wednesday, June 24th. They set a “buy” rating and a $39.00 price objective for the company. Piper Sandler initiated coverage on First Financial Bankshares in a research note on Thursday, August 27th. They issued a “neutral” rating and a $35.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $35.00 target price (up from $34.00) on shares of First Financial Bankshares in a report on Wednesday, July 15th. Finally, Hovde Group began coverage on shares of First Financial Bankshares in a report on Friday. They set a “market perform” rating and a $36.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.80.

First Financial Bankshares Company Profile

First Financial Bankshares, Inc is a Texas-based financial holding company headquartered in Abilene. Its principal subsidiary, First Financial Bank, provides banking and financial services to individuals, businesses, agricultural customers and public-sector organizations through a network of locations across Texas.

The company offers consumer and commercial deposit accounts, business and personal loans, mortgage lending, treasury and cash-management services, and online and mobile banking.