First Financial Bankshares
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
1 Year Returns
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.
Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for First Financial Bankshares.
| 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.
| 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.
| 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 |
| 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.
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?
| 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.
| 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?
| 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 .
| 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?
| 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 |
| 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.
Value checks
We assess First Financial Bankshares's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check) 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
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!
Earnings growth vs Low Risk Savings
- 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
| 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
| 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 |
| 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 |
| 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.
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.
| 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 |
| 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%).
Future performance checks
We assess First Financial Bankshares's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from First Financial Bankshares Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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.
Past performance checks
We assess First Financial Bankshares's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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
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.
Balance sheet
Assets
Liabilities and shares
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.
All data from First Financial Bankshares Company Filings, last reported 2 months ago.
| 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.
- 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%).
Financial health checks
We assess First Financial Bankshares's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) First Financial Bankshares has a total score of 6/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
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
- 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.
| 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.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2020-12-31 | 0.96 | 6.00 |
| 2019-12-31 | 0.91 | 6.00 |
| 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).
- Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
Income/ dividend checks
We assess First Financial Bankshares's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| 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:
- 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
Chairman
$1M
65
18.2 yrs
J. Hildebrand
Executive VP
$794K
63
16 yrs
Ron Butler
Executive VP & Chief Administrative Officer
$751K
57
7.2 yrs
Kirk Thaxton
Chairman
$671K
57
Gary Gragg
Executive VP & Chief Lending Officer
$627K
58
J. McVey
Senior VP & Chief Accounting Officer
1.8 yrs
John Ruzicka
Executive VP & Chief Information Officer
0.3 yrs
Larry Kentz
Senior VP & Chief Compliance Officer
1.1 yrs
Michele Stevens
Executive Vice President of Marketing & Advertising
13.1 yrs
Bill Rowe
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:
- 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
Chairman
$671K
57
David Copeland
Director
$131K
62
21.2 yrs
F. Dueser
Chairman
$1M
65
11.2 yrs
Tucker Bridwell
Lead Independent Director
$124K
66
9.1 yrs
Ivan Lancaster
Director
$111K
64
5.9 yrs
Kade Matthews
Director
$103K
60
21.2 yrs
Johnny Trotter
Director
$110K
67
16.2 yrs
Murray Edwards
Director
$133K
66
12.9 yrs
Ron Giddiens
Director
$121K
70
9.9 yrs
Ross Smith
Director
$116K
70
4.9 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by First Financial Bankshares insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | 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 | ||
Management checks
We assess First Financial Bankshares's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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 - – Full articleIs 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 - – Full articleWhy 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 - – Full articleAre 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 - – Full articleAre 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 - – Full articleWhy 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 - – Full articleIs 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 - – Full articleShould 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 - – Full articleWhat 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 - – Full articleWhy 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 - – Full articleCompany 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
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.
