Wall Street analysts expect First Financial Bancorp (NASDAQ:FFBC) to post sales of $153.30 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for First Financial Bancorp’s earnings, with estimates ranging from $150.90 million to $156.00 million. First Financial Bancorp reported sales of $148.34 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.3%. The business is scheduled to issue its next earnings results on Thursday, April 23rd.
According to Zacks, analysts expect that First Financial Bancorp will report full year sales of $602.30 million for the current financial year, with estimates ranging from $584.90 million to $616.00 million. For the next fiscal year, analysts expect that the business will post sales of $606.43 million, with estimates ranging from $588.00 million to $620.30 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for First Financial Bancorp.
First Financial Bancorp (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.02). First Financial Bancorp had a net margin of 26.81% and a return on equity of 9.56%. The company had revenue of $155.67 million for the quarter, compared to analysts’ expectations of $155.33 million. During the same period in the previous year, the firm posted $0.61 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Independence Bank of Kentucky increased its stake in First Financial Bancorp by 34.7% in the fourth quarter. Independence Bank of Kentucky now owns 2,693 shares of the bank’s stock worth $69,000 after purchasing an additional 693 shares during the period. SG Americas Securities LLC purchased a new stake in First Financial Bancorp in the fourth quarter worth $132,000. Horizon Bancorp Inc. IN purchased a new stake in First Financial Bancorp in the fourth quarter worth $138,000. Tower Research Capital LLC TRC purchased a new stake in First Financial Bancorp in the fourth quarter worth $143,000. Finally, CA Family Wealth LLC purchased a new stake in First Financial Bancorp in the fourth quarter worth $206,000. 79.27% of the stock is owned by institutional investors and hedge funds.
Shares of FFBC stock traded up $0.88 during mid-day trading on Monday, reaching $14.39. 822,183 shares of the company’s stock traded hands, compared to its average volume of 453,654. The company has a market cap of $1.37 billion, a P/E ratio of 7.20 and a beta of 1.25. The company’s 50-day moving average price is $19.95 and its 200-day moving average price is $23.41. First Financial Bancorp has a 12 month low of $11.82 and a 12 month high of $26.19. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.70.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date of this dividend was Friday, February 28th. First Financial Bancorp’s dividend payout ratio (DPR) is currently 42.99%.
About First Financial Bancorp
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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