Equities research analysts predict that First Financial Bancorp (NASDAQ:FFBC) will post earnings of $0.53 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for First Financial Bancorp’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.52. First Financial Bancorp reported earnings per share of $0.61 in the same quarter last year, which would suggest a negative year-over-year growth rate of 13.1%. The business is expected to announce its next earnings results on Wednesday, January 22nd.
On average, analysts expect that First Financial Bancorp will report full year earnings of $2.13 per share for the current financial year, with EPS estimates ranging from $2.11 to $2.15. For the next financial year, analysts anticipate that the company will report earnings of $2.04 per share, with EPS estimates ranging from $1.97 to $2.11. Zacks’ EPS calculations are an average based on a survey of analysts that follow First Financial Bancorp.
First Financial Bancorp (NASDAQ:FFBC) last issued its earnings results on Thursday, October 17th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. The company had revenue of $154.68 million during the quarter, compared to analysts’ expectations of $150.98 million. First Financial Bancorp had a net margin of 27.72% and a return on equity of 10.13%. During the same period in the previous year, the company earned $0.58 EPS.
FFBC has been the subject of several recent research reports. Royal Bank of Canada set a $24.00 price target on shares of First Financial Bancorp and gave the company a “hold” rating in a research report on Monday, October 21st. ValuEngine upgraded shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Zacks Investment Research cut shares of First Financial Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, BidaskClub upgraded shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $27.86.
Shares of NASDAQ:FFBC traded down $0.03 during midday trading on Tuesday, hitting $24.27. The stock had a trading volume of 224,900 shares, compared to its average volume of 346,975. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.26. First Financial Bancorp has a fifty-two week low of $22.07 and a fifty-two week high of $28.59. The company’s 50-day moving average price is $24.07 and its 200-day moving average price is $23.98. The company has a market capitalization of $2.43 billion, a P/E ratio of 10.64 and a beta of 1.22.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, November 29th. First Financial Bancorp’s dividend payout ratio is currently 40.35%.
In other news, Chairman Claude E. Davis sold 22,420 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.40, for a total value of $569,468.00. Following the sale, the chairman now directly owns 356,517 shares of the company’s stock, valued at approximately $9,055,531.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Claude E. Davis sold 26,657 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $25.32, for a total transaction of $674,955.24. Following the completion of the sale, the chairman now directly owns 329,860 shares in the company, valued at $8,352,055.20. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of First Financial Bancorp by 1.5% in the 2nd quarter. BlackRock Inc. now owns 14,530,060 shares of the bank’s stock valued at $351,917,000 after purchasing an additional 218,329 shares during the last quarter. Macquarie Group Ltd. boosted its stake in First Financial Bancorp by 4.8% during the second quarter. Macquarie Group Ltd. now owns 5,266,350 shares of the bank’s stock worth $127,557,000 after acquiring an additional 240,753 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in First Financial Bancorp by 4.9% during the second quarter. JPMorgan Chase & Co. now owns 3,547,322 shares of the bank’s stock worth $84,604,000 after acquiring an additional 164,209 shares in the last quarter. Northern Trust Corp boosted its stake in First Financial Bancorp by 7.6% during the second quarter. Northern Trust Corp now owns 2,477,830 shares of the bank’s stock worth $60,012,000 after acquiring an additional 175,710 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC boosted its stake in First Financial Bancorp by 6.1% during the second quarter. Neumeier Poma Investment Counsel LLC now owns 1,668,348 shares of the bank’s stock worth $40,407,000 after acquiring an additional 95,370 shares in the last quarter. 74.04% of the stock is currently owned by institutional investors.
First Financial Bancorp Company Profile
First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers.
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