First Financial Bankshares, Inc. Declares Quarterly Dividend of $0.19 (NASDAQ:FFIN)

by · The Cerbat Gem

First Financial Bankshares, Inc. (NASDAQ:FFIN – Get Free Report) declared a quarterly dividend on Tuesday, October 28th. Shareholders 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) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, December 15th.

First Financial Bankshares has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 15 consecutive years. First Financial Bankshares has a payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Research 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%

Shares of First Financial Bankshares stock traded down $0.16 on Friday, hitting $31.59. 1,048,991 shares of the company traded hands, compared to its average volume of 701,777. The company has a market cap of $4.52 billion, a PE ratio of 18.69 and a beta of 0.85. The stock’s 50 day moving average price is $31.53 and its 200-day moving average price is $34.36. First Financial Bankshares has a 52 week low of $29.80 and a 52 week high of $40.97.

First Financial Bankshares (NASDAQ:FFIN – Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $161.21 million. First Financial Bankshares had a return on equity of 14.16% and a net margin of 29.81%.The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. As a group, research analysts anticipate that First Financial Bankshares will post 1.78 EPS for the current fiscal year.

Insider Buying and Selling at First Financial Bankshares

In related news, Director Sally Pope Davis acquired 1,700 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $30.73 per share, with a total value of $52,241.00. Following the completion of the acquisition, the director directly owned 6,971 shares of the company’s stock, valued at $214,218.83. This represents a 32.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michelle S. Hickox bought 2,000 shares of First Financial Bankshares stock in a transaction that occurred on Tuesday, October 28th. The stock was purchased at an average price of $31.15 per share, with a total value of $62,300.00. Following the purchase, the chief financial officer directly owned 24,461 shares in the company, valued at $761,960.15. The trade was a 8.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 4,353 shares of company stock valued at $134,888 over the last quarter. Insiders own 4.22% of the company’s stock.

Hedge Funds Weigh In On First Financial Bankshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in First Financial Bankshares by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,452,051 shares of the bank’s stock valued at $124,218,000 after acquiring an additional 61,599 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of First Financial Bankshares by 5.9% during the first quarter. Champlain Investment Partners LLC now owns 2,901,239 shares of the bank’s stock worth $104,213,000 after purchasing an additional 161,991 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in First Financial Bankshares by 36.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,465,774 shares of the bank’s stock valued at $88,571,000 after purchasing an additional 652,575 shares during the period. Norges Bank acquired a new stake in First Financial Bankshares during the 2nd quarter worth about $57,680,000. Finally, Bank of America Corp DE grew its position in First Financial Bankshares by 31.8% during the 3rd quarter. Bank of America Corp DE now owns 1,290,749 shares of the bank’s stock worth $43,434,000 after purchasing an additional 311,628 shares during the period. Institutional investors and hedge funds own 69.78% of the company’s stock.

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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