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

First Financial Bankshares, Inc. (NASDAQ:FFIN - Get Free Report) announced a quarterly dividend on Tuesday, October 29th, Wall Street Journal reports. Investors of record on Friday, December 13th will be given 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 dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, December 13th.

First Financial Bankshares has increased its dividend payment by an average of 11.7% per year over the last three years and has raised its dividend every year for the last 13 years. First Financial Bankshares has a dividend payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Research 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

NASDAQ:FFIN traded down $0.42 during trading hours on Tuesday, reaching $36.39. The stock had a trading volume of 389,444 shares, compared to its average volume of 539,404. First Financial Bankshares has a 12-month low of $23.69 and a 12-month high of $39.53. The stock has a 50 day simple moving average of $36.69 and a 200 day simple moving average of $33.30. The stock has a market cap of $5.20 billion, a P/E ratio of 25.99 and a beta of 0.78.

Wall Street Analyst Weigh In

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

First Financial Bankshares Company Profile

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.