First Financial Bankshares Inc (FFIN) to Issue Quarterly Dividend of $0.12 on October 1st
First Financial Bankshares Inc (NASDAQ:FFIN) announced a quarterly dividend on Tuesday, July 23rd, NASDAQ reports. Investors of record on Monday, September 16th will be paid a dividend of 0.12 per share by the bank on Tuesday, October 1st. This represents a $0.48 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Friday, September 13th.
First Financial Bankshares has raised its dividend by an average of 10.1% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. First Financial Bankshares has a dividend payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Financial Bankshares to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 38.1%.
First Financial Bankshares stock traded up $0.48 during mid-day trading on Wednesday, hitting $32.80. 16,814 shares of the company traded hands, compared to its average volume of 304,416. First Financial Bankshares has a one year low of $26.73 and a one year high of $33.43. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 30.08 and a beta of 1.18. The stock has a fifty day moving average price of $31.22 and a 200-day moving average price of $45.69.
Several analysts have issued reports on the stock. ValuEngine lowered shares of First Financial Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, June 4th. Stephens reiterated a “hold” rating and issued a $30.00 price objective on shares of First Financial Bankshares in a report on Friday, July 19th. Piper Jaffray Companies set a $29.00 target price on First Financial Bankshares and gave the company a “hold” rating in a research note on Thursday, August 22nd. Zacks Investment Research cut First Financial Bankshares from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Finally, BidaskClub upgraded First Financial Bankshares from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $30.75.
About First Financial Bankshares
First Financial Bankshares, Inc, through its subsidiaries, provides commercial banking products and services primarily in Texas. The company accepts checking, savings, and time deposits; and offers real estate, commercial, agricultural, and consumer loans to businesses, professionals, individuals, and farm and ranch operations.
Featured Article: What is a Futures Contract?
Receive News & Ratings for First Financial Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.