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

by · The Markets Daily

First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Free Report) announced a quarterly dividend on Tuesday, October 29th, Wall Street Journal reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.18 per share by the bank on Thursday, January 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, December 13th.

First Financial Bankshares has increased its dividend by an average of 11.7% per year over the last three years and has increased its dividend every year for the last 13 years. First Financial Bankshares has a payout ratio of 43.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Financial Bankshares to earn $1.67 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 43.1%.

First Financial Bankshares Stock Performance

Shares of FFIN traded down $0.43 during midday trading on Tuesday, hitting $36.38. 389,444 shares of the stock were exchanged, compared to its average volume of 539,267. The firm has a market cap of $5.20 billion, a P/E ratio of 26.29 and a beta of 0.78. First Financial Bankshares has a 52-week low of $23.69 and a 52-week high of $39.53. The stock has a fifty day simple moving average of $36.66 and a 200 day simple moving average of $33.25.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Stephens boosted their price target on shares of First Financial Bankshares from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Hovde Group upped their target price on shares of First Financial Bankshares from $34.50 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, October 21st. Finally, Truist Financial boosted their price target on shares of First Financial Bankshares from $39.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 20th.

Read Our Latest Analysis on FFIN

About First Financial Bankshares

(Get Free Report)

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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