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First Financial Bankshares

Nasdaq:FFIN
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FFIN
Nasdaq
$4B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

First Financial Bankshares, Inc., through its subsidiaries, provides commercial banking products and services primarily in Texas. The last earnings update was 29 days ago. More info.


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FFIN Share Price and Events
7 Day Returns
-7.8%
NasdaqGS:FFIN
1.8%
US Banks
1.2%
US Market
1 Year Returns
14.9%
NasdaqGS:FFIN
-9%
US Banks
3%
US Market
FFIN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
First Financial Bankshares (FFIN) -7.8% -10.8% 1.2% 14.9% 94.3% 80.6%
US Banks 1.8% 0.6% 15.7% -9% 49.7% 41.2%
US Market 1.2% 2.1% 14.6% 3% 39% 43.5%
1 Year Return vs Industry and Market
  • FFIN outperformed the Banks industry which returned -9% over the past year.
  • FFIN outperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
FFIN
Industry
5yr Volatility vs Market

Value

 Is First Financial Bankshares undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of First Financial Bankshares to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for First Financial Bankshares.

NasdaqGS:FFIN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 5 analysts.
= Stable Book Value * Return on Equity
= $17.76 * 15%
$2.67
Book Value of Equity per Share Weighted future Book Value estimates from 4 analysts. $17.76
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:FFIN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.64
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.637 (1 + (1- 21%) (12.43%))
0.798
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NasdaqGS:FFIN using Excess Returns Model Model

The calculations below outline how an intrinsic value for First Financial Bankshares is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:FFIN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (15% – 7.5%) * $17.76)
$1.34
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $1.34 / (7.5% - 2.73%)
$28.08
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $17.76 + $28.08
$45.84
NasdaqGS:FFIN Discount to Share Price
Calculation Result
Value per share (USD) From above. $45.84
Current discount Discount to share price of $56.05
= -1 x ($56.05 - $45.84) / $45.84
-22.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of First Financial Bankshares is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for First Financial Bankshares's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are First Financial Bankshares's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:FFIN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $2.23
NasdaqGS:FFIN Share Price ** NasdaqGS (2019-03-20) in USD $56.05
United States of America Banks Industry PE Ratio Median Figure of 587 Publicly-Listed Banks Companies 13.22x
United States of America Market PE Ratio Median Figure of 3,058 Publicly-Listed Companies 17.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of First Financial Bankshares.

NasdaqGS:FFIN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:FFIN Share Price ÷ EPS (both in USD)

= 56.05 ÷ 2.23

25.16x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Financial Bankshares is overvalued based on earnings compared to the US Banks industry average.
  • First Financial Bankshares is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does First Financial Bankshares's expected growth come at a high price?
Raw Data
NasdaqGS:FFIN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.16x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
6.1%per year
United States of America Banks Industry PEG Ratio Median Figure of 260 Publicly-Listed Banks Companies 1.21x
United States of America Market PEG Ratio Median Figure of 2,103 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

NasdaqGS:FFIN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.16x ÷ 6.1%

4.14x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Financial Bankshares is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on First Financial Bankshares's assets?
Raw Data
NasdaqGS:FFIN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $15.65
NasdaqGS:FFIN Share Price * NasdaqGS (2019-03-20) in USD $56.05
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.24x
United States of America Market PB Ratio Median Figure of 5,156 Publicly-Listed Companies 1.89x
NasdaqGS:FFIN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:FFIN Share Price ÷ Book Value per Share (both in USD)

= 56.05 ÷ 15.65

3.58x

* Primary Listing of First Financial Bankshares.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • First Financial Bankshares is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess First Financial Bankshares's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. First Financial Bankshares has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is First Financial Bankshares expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is First Financial Bankshares expected to grow at an attractive rate?
  • First Financial Bankshares's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • First Financial Bankshares's earnings growth is positive but not above the United States of America market average.
  • First Financial Bankshares's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:FFIN Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:FFIN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 6.1%
NasdaqGS:FFIN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 6.9%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.5%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:FFIN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:FFIN Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 424 170 5
2019-12-31 402 162 5
NasdaqGS:FFIN Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 369 189 151
2018-09-30 357 194 148
2018-06-30 345 182 138
2018-03-31 333 168 128
2017-12-31 321 190 120
2017-09-30 316 188 111
2017-06-30 308 167 107
2017-03-31 304 156 106
2016-12-31 302 161 105
2016-09-30 299 143 103
2016-06-30 297 155 104
2016-03-31 290 141 102

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • First Financial Bankshares's earnings are expected to grow by 6.1% yearly, however this is not considered high growth (20% yearly).
  • First Financial Bankshares's revenue is expected to grow by 6.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:FFIN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from First Financial Bankshares Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FFIN Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.48 2.60 2.39 6.00
2019-12-31 2.36 2.41 2.32 6.00
NasdaqGS:FFIN Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 2.23
2018-09-30 2.21
2018-06-30 2.06
2018-03-31 1.93
2017-12-31 1.82
2017-09-30 1.68
2017-06-30 1.62
2017-03-31 1.60
2016-12-31 1.59
2016-09-30 1.57
2016-06-30 1.57
2016-03-31 1.56

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • First Financial Bankshares is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess First Financial Bankshares's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
First Financial Bankshares has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has First Financial Bankshares performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare First Financial Bankshares's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • First Financial Bankshares's year on year earnings growth rate has been positive over the past 5 years.
  • First Financial Bankshares's 1-year earnings growth exceeds its 5-year average (25.1% vs 11.6%)
  • First Financial Bankshares's earnings growth has not exceeded the US Banks industry average in the past year (25.1% vs 43.2%).
Earnings and Revenue History
First Financial Bankshares's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from First Financial Bankshares Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:FFIN Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 368.86 150.64 142.39
2018-09-30 357.34 148.35 140.79
2018-06-30 344.85 137.67 138.00
2018-03-31 333.38 128.29 134.82
2017-12-31 321.17 120.37 130.95
2017-09-30 315.68 110.89 129.19
2017-06-30 308.20 107.12 128.25
2017-03-31 303.60 105.68 126.04
2016-12-31 301.76 104.77 125.08
2016-09-30 298.60 103.30 123.60
2016-06-30 297.43 103.58 121.58
2016-03-31 290.09 102.08 117.63
2015-12-31 281.28 100.38 112.15
2015-09-30 274.53 97.78 107.00
2015-06-30 265.96 95.32 102.51
2015-03-31 260.34 91.22 100.13
2014-12-31 256.52 89.56 99.29
2014-09-30 251.48 88.21 98.59
2014-06-30 247.38 84.34 97.50
2014-03-31 240.24 82.63 95.60
2013-12-31 230.58 78.87 91.72
2013-09-30 222.33 75.95 87.92
2013-06-30 214.94 76.19 83.96
2013-03-31 210.38 75.05 81.04
2012-12-31 208.41 74.23 79.84
2012-09-30 205.11 73.37 78.39
2012-06-30 202.14 71.66 77.25
2012-03-31 199.03 69.83 76.92

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • First Financial Bankshares has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • First Financial Bankshares used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if First Financial Bankshares improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess First Financial Bankshares's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
First Financial Bankshares has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is First Financial Bankshares's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of First Financial Bankshares's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from First Financial Bankshares Company Filings, last reported 2 months ago.

NasdaqGS:FFIN Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,053.30 469.11 239.50
2018-09-30 995.74 380.76 200.97
2018-06-30 985.63 456.94 287.62
2018-03-31 969.81 372.16 199.50
2017-12-31 922.77 331.00 362.80
2017-09-30 906.56 351.44 345.89
2017-06-30 887.44 379.32 221.97
2017-03-31 859.35 360.26 224.39
2016-12-31 837.89 445.77 253.85
2016-09-30 867.94 513.76 289.42
2016-06-30 866.16 556.92 208.23
2016-03-31 838.61 525.34 168.08
2015-12-31 804.99 615.68 258.66
2015-09-30 792.03 500.90 144.89
2015-06-30 701.19 621.16 178.88
2015-03-31 706.25 401.90 175.14
2014-12-31 681.54 367.11 256.14
2014-09-30 658.77 341.91 257.97
2014-06-30 640.04 434.58 261.87
2014-03-31 616.57 383.22 197.89
2013-12-31 587.65 463.89 238.01
2013-09-30 568.24 466.50 261.95
2013-06-30 575.86 431.58 200.09
2013-03-31 564.25 263.35 182.37
2012-12-31 556.96 259.70 409.74
2012-09-30 549.91 254.48 245.15
2012-06-30 534.26 251.43 233.02
2012-03-31 517.01 237.57 288.55
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • First Financial Bankshares has an acceptable proportion of non-loan assets held.
  • First Financial Bankshares's liabilities are made up of primarily low risk sources of funding.
  • Loans at First Financial Bankshares are broadly funded by customer deposits.
  • First Financial Bankshares's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • First Financial Bankshares has a sufficient allowance for bad loans.
  • First Financial Bankshares has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess First Financial Bankshares's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. First Financial Bankshares has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is First Financial Bankshares's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.5%
Current annual income from First Financial Bankshares dividends. Estimated to be 1.67% next year.
If you bought $2,000 of First Financial Bankshares shares you are expected to receive $30 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • First Financial Bankshares's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • First Financial Bankshares's dividend is below the markets top 25% of dividend payers in United States of America (3.64%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:FFIN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 470 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2004 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:FFIN Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.96 6.00
2019-12-31 0.91 6.00
NasdaqGS:FFIN Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-19 0.840 1.347
2019-01-24 0.840 1.348
2018-10-30 0.840 1.377
2018-10-18 0.840 1.480
2018-04-24 0.840 1.507
2018-04-19 0.760 1.534
2018-02-16 0.760 1.601
2018-01-25 0.760 1.640
2017-10-31 0.760 1.662
2017-10-19 0.760 1.649
2017-04-25 0.760 1.825
2017-04-20 0.720 1.803
2017-02-17 0.720 1.757
2017-01-26 0.720 1.690
2016-10-25 0.720 1.692
2016-10-20 0.720 1.979
2016-04-26 0.720 2.108
2016-04-21 0.640 1.994
2016-02-19 0.640 2.217
2016-01-28 0.640 2.443
2015-10-28 0.640 2.049
2015-10-22 0.640 1.902
2015-04-28 0.640 2.008
2015-04-16 0.560 1.926
2015-02-20 0.560 2.042
2015-01-22 0.560 2.160
2014-11-04 0.560 1.913
2014-10-16 0.560 1.891
2014-04-22 0.560 1.883
2014-04-17 0.520 1.754
2014-02-21 0.520 1.705
2014-01-23 0.520 1.722
2013-10-29 0.520 1.627
2013-10-17 0.520 1.679
2013-04-23 0.520 1.825
2013-04-18 0.500 2.101
2013-02-22 0.500 2.130
2013-01-24 0.500 2.354
2012-10-31 0.500 2.569
2012-10-18 0.500 2.789
2012-04-24 0.500 2.917
2012-04-23 0.480 2.890
2012-02-22 0.480 2.785
2012-01-26 0.480 2.731
2011-11-01 0.480 2.935
2011-10-20 0.480 3.055
2011-04-29 0.480 3.089
2011-04-21 0.453 2.526
2011-02-24 0.453 2.688
2011-01-27 0.453 2.736
2010-11-02 0.453 2.701
2010-10-22 0.453 2.870
2010-07-29 0.453 2.914
2010-07-22 0.453 2.755
2010-04-27 0.453 2.704
2010-04-22 0.453 2.510
2010-02-19 0.453 2.559
2010-01-28 0.453 2.625
2009-11-03 0.453 2.579
2009-10-22 0.453 2.771
2009-07-31 0.453 2.691
2009-07-23 0.453 2.596
2009-04-28 0.453 2.747
2009-04-23 0.453 2.733
2009-03-23 0.453 2.807

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of First Financial Bankshares's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess First Financial Bankshares's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can First Financial Bankshares afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. First Financial Bankshares has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of First Financial Bankshares's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
F. Dueser
COMPENSATION $1,496,513
AGE 65
TENURE AS CEO 18.2 years
CEO Bio

Mr. F. Scott Dueser has been the President and Chief Executive Officer of First Financial Bankshares, Inc. since 2001. He has been the Chairman of First Financial Bankshares, Inc. since January 1, 2008 and has been its Director since 1991. He has been with the First Financial family for more than 40 years, starting as a Management Trainee in 1976 with First National Bank of Abilene (the "Bank") (now First Financial Bank, National Association). He served as President and CEO of the Bank from 1991 to 2001. Mr. Dueser is the Chairman of the Board of the bank since January 2008. He serves as a Director of First Technology Services, Inc., and First Financial Bank, N.A., Abilene. His banking career began in 1971, as a Bookkeeper for First National Bank in Breckenridge, Texas while attending college. He also worked as a Teller at Plains National Bank in Lubbock, Texas while still in school. Following his graduation, Mr. Dueser became an Assistant Bank Examiner at the Federal Reserve Bank in Dallas. Mr. Dueser serves as an Executive Board Member for the Texas Tech Foundation. He is also a Board Member of the American Bankers Association, Abilene Industrial Foundation, and Chairman of the United Way of Abilene Foundation. Mr. Dueser has previously served as Chairman of the Texas Tech University Board of Regents, the Texas Bankers Association and the TBA's BankPac. He has also previously served as campaign Chairman for United Way of Abilene, President of Day Nursery of Abilene, Treasurer of the West Central Texas Oil and Gas Association, President of the American Institute of Banking, Chairman of the Abilene Industrial Foundation and Co-Chairman of the Mayor’s Task Force on Technology. He has received following honors, 1982 Outstanding Young Abilenian - Abilene Junior Chamber of Commerce, 1985 Big Brother of the Year – Big Brothers Big Sisters of Abilene, 1998 Humanitarian Award – Christian Homes of Abilene, Inc., 1999 Outstanding Volunteer Fund Raiser – National Society of Fund Raising Executives, 2000 Volunteer Service Award – The United Way of Abilene, 2002 Big Brothers Big Sisters of Abilene Vision Award, 2006 Distinguished Alumni Award – Rawls College of Business, Texas Tech University, 2009 Business Hall of Fame Charter Laureate – Junior Achievement of Abilene, 2009 Outstanding Citizen of the Year – Abilene Chamber of Commerce, 2013 Distinguished Alumni Award – Southwestern Graduate School of Banking, 2014 Boy Scouts of America Distinguished Citizen Award, 2014 Distinguished Eagle Scout Award – Boy Scouts of America and 2015 Texas Bankers Hall of Fame. Mr. Dueser earned his BBA in finance and BBA in accounting from Texas Tech University in 1975. He graduated from the Southwestern Graduate School of Banking at Southern Methodist University in 1981.

CEO Compensation
  • F.'s compensation has been consistent with company performance over the past year.
  • F.'s remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the First Financial Bankshares management team in years:

7.2
Average Tenure
58
Average Age
  • The average tenure for the First Financial Bankshares management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

F. Dueser

TITLE
Chairman
COMPENSATION
$1M
AGE
65
TENURE
18.2 yrs

J. Hildebrand

TITLE
Executive VP
COMPENSATION
$794K
AGE
63
TENURE
16 yrs

Ron Butler

TITLE
Executive VP & Chief Administrative Officer
COMPENSATION
$751K
AGE
57
TENURE
7.2 yrs

Kirk Thaxton

TITLE
Chairman
COMPENSATION
$671K
AGE
57

Gary Gragg

TITLE
Executive VP & Chief Lending Officer
COMPENSATION
$627K
AGE
58

J. McVey

TITLE
Senior VP & Chief Accounting Officer
TENURE
1.8 yrs

John Ruzicka

TITLE
Executive VP & Chief Information Officer
TENURE
0.3 yrs

Larry Kentz

TITLE
Senior VP & Chief Compliance Officer
TENURE
1.1 yrs

Michele Stevens

TITLE
Executive Vice President of Marketing & Advertising
TENURE
13.1 yrs

Bill Rowe

TITLE
Senior Vice President of Fixed Income - Investment Management Team
Board of Directors Tenure

Average tenure and age of the First Financial Bankshares board of directors in years:

11.2
Average Tenure
65.5
Average Age
  • The average tenure for the First Financial Bankshares board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Kirk Thaxton

TITLE
Chairman
COMPENSATION
$671K
AGE
57

David Copeland

TITLE
Director
COMPENSATION
$131K
AGE
62
TENURE
21.2 yrs

F. Dueser

TITLE
Chairman
COMPENSATION
$1M
AGE
65
TENURE
11.2 yrs

Tucker Bridwell

TITLE
Lead Independent Director
COMPENSATION
$124K
AGE
66
TENURE
9.1 yrs

Ivan Lancaster

TITLE
Director
COMPENSATION
$111K
AGE
64
TENURE
5.9 yrs

Kade Matthews

TITLE
Director
COMPENSATION
$103K
AGE
60
TENURE
21.2 yrs

Johnny Trotter

TITLE
Director
COMPENSATION
$110K
AGE
67
TENURE
16.2 yrs

Murray Edwards

TITLE
Director
COMPENSATION
$133K
AGE
66
TENURE
12.9 yrs

Ron Giddiens

TITLE
Director
COMPENSATION
$121K
AGE
70
TENURE
9.9 yrs

Ross Smith

TITLE
Director
COMPENSATION
$116K
AGE
70
TENURE
4.9 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by First Financial Bankshares insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
15. Mar 19 Buy Johnny Trotter Individual 14. Mar 19 14. Mar 19 5,000 $60.49 $302,450
12. Feb 19 Buy Murray Edwards Individual 12. Feb 19 12. Feb 19 150 $62.90 $9,428
24. Oct 18 Buy Johnny Trotter Individual 23. Oct 18 23. Oct 18 2,000 $55.65 $111,300
16. Aug 18 Buy Murray Edwards Individual 16. Aug 18 16. Aug 18 45 $59.91 $2,696
14. Jun 18 Buy Johnny Trotter Individual 14. Jun 18 14. Jun 18 1,000 $53.43 $53,430
06. Jun 18 Sell Ronald Giddiens Individual 04. Jun 18 04. Jun 18 -1,465 $53.31 $-78,099
21. May 18 Buy Murray Edwards Individual 18. May 18 18. May 18 195 $53.00 $10,335
02. May 18 Sell David Copeland Individual 02. May 18 02. May 18 -7,362 $50.68 $-373,106
X
Management checks
We assess First Financial Bankshares's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. First Financial Bankshares has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is First Financial Bankshares's (NASDAQ:FFIN) Share Price Gain Of 112% Well Earned?

(NASDAQ:FFIN) share price has flown 112% in the last three years. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During three years of share price growth, First Financial Bankshares achieved compound earnings per share growth of 13% per year.

Simply Wall St -

Is Now An Opportune Moment To Examine First Financial Bankshares, Inc. (NASDAQ:FFIN)?

(NASDAQ:FFIN), operating in the financial services industry based in United States,. … saw a double-digit share price rise of over 10% in the past couple of months on the NASDAQGS. … Let’s take a look at First Financial Bankshares’s outlook and value based on the most recent financial data to see if the opportunity still exists.

Simply Wall St -

Why First Financial Bankshares, Inc.'s (NASDAQ:FFIN) High P/E Ratio Isn't Necessarily A Bad Thing

We'll look at First Financial Bankshares, Inc.'s (NASDAQ:FFIN) P/E ratio and reflect on what it tells us about the company's share price. … First Financial Bankshares has a price to earnings ratio of 28.2, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Are You Considering All The Risks For First Financial Bankshares, Inc.’s (NASDAQ:FFIN)?

Risk associated with repayment is measured by bad debt which is written off as an expense, impacting First Financial Bankshares’s bottom line. … Today we will analyse First Financial Bankshares’s level of bad debt and liabilities in order to understand the risk involved with investing in the bank. … See our latest analysis for First Financial Bankshares

Simply Wall St -

Are Insiders Selling First Financial Bankshares, Inc. (NASDAQ:FFIN) Stock?

That means that an insider was selling shares at below the current price (US$58.46). … Over the last year we saw more insider selling of First Financial Bankshares shares, than buying … It's not too encouraging to see that insiders have sold at below the current price

Simply Wall St -

Why These Fundamentals Make First Financial Bankshares Inc’s (NASDAQ:FFIN) More Attractive

First Financial Bankshares Inc’s (NASDAQ:FFIN) profitability and risk are largely affected by the underlying economic growth for the region it operates in US given it is a small-cap stock with a market capitalisation of US$4.4b. … Post-GFC recovery brought about a new set of reforms, Basel III, which was created to improve regulation, supervision and risk management in the financial services industry. … Today we will be measuring First Financial Bankshares’s financial risk position by looking at three leverage and liquidity metrics.

Simply Wall St -

Is Now An Opportune Moment To Examine First Financial Bankshares Inc (NASDAQ:FFIN)?

First Financial Bankshares Inc (NASDAQ:FFIN), operating in the financial services industry based in United States,. … saw a decent share price growth in the teens level on the NasdaqGS over the last few months. … Let’s examine First Financial Bankshares’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Should We Worry About First Financial Bankshares Inc's (NASDAQ:FFIN) P/E Ratio?

To keep it practical, we'll show how First Financial Bankshares Inc's (NASDAQ:FFIN) P/E ratio could help you assess the value on offer. … First Financial Bankshares has a P/E ratio of 26.39, based on the last twelve months. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

What Did First Financial Bankshares Inc's (NASDAQ:FFIN) CEO Take Home Last Year?

Dueser's Compensation Compare With Similar Sized Companies. … According to our data, First Financial Bankshares Inc has a market capitalization of US$4.0b, and pays its CEO total annual compensation worth US$2m? … Dueser is paid less than the average compensation paid by similar sized companies..

Simply Wall St -

Why Fundamental Investors Love First Financial Bankshares Inc (NASDAQ:FFIN)

I've been keeping an eye on First Financial Bankshares Inc (NASDAQ:FFIN) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe FFIN has a lot to offer. … , dividend-paying company with a

Simply Wall St -

Company Info

Description

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. It also provides automated teller machine, drive-in and night deposit, safe deposit facility, remote deposit capture, Internet banking, mobile banking, payroll card, transmitting fund, and other customary commercial banking services. In addition, the company offers personal trust services, including wealth management, administration of estates, testamentary trusts, revocable and irrevocable trusts, and agency accounts; and securities brokerage services, as well as administers retirement and employee benefit accounts, such as 401(k) profit sharing plans and IRAs. As of January 24, 2019, it had 73 locations comprising Abilene, Acton, Albany, Aledo, Alvarado, Beaumont, Boyd, Bridgeport, Brock, Burleson, Cisco, Cleburne, Clyde, Conroe, Cut and Shoot, Decatur, Eastland, El Campo, Fort Worth, Fulshear, Glen Rose, Granbury, Grapevine, Hereford, Huntsville, Keller, Kingwood, Magnolia, Mauriceville, Merkel, Midlothian, Mineral Wells, Montgomery, Moran, New Waverly, Newton, Odessa, Orange, Palacios, Port Arthur, Ranger, Rising Star, Roby, San Angelo, Southlake, Spring, Stephenville, Sweetwater, Tomball, Trent, Trophy Club, Vidor, Waxahachie, Weatherford, Willis, and Willow Park. The company also provides asset management and technology services. First Financial Bankshares, Inc. was founded in 1890 and is headquartered in Abilene, Texas.

Details
Name: First Financial Bankshares, Inc.
FFIN
Exchange: NasdaqGS
Founded: 1890
$3,774,906,013
67,348,903
Website: http://www.ffin.com
Address: First Financial Bankshares, Inc.
400 Pine Street,
PO Box 701,
Abilene,
Texas, 79601,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS FFIN Common Stock Nasdaq Global Select US USD 01. Nov 1993
Number of employees
Current staff
Staff numbers
1,350
First Financial Bankshares employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 23:37
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/03/06
Last earnings filing: 2019/02/19
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.