Zacks: Brokerages Anticipate First Financial Bancorp (NASDAQ:FFBC) to Announce $0.40 Earnings Per Share

Wall Street analysts forecast that First Financial Bancorp (NASDAQ:FFBC) will post earnings of $0.40 per share for the current quarter, Zacks reports. Three analysts have provided estimates for First Financial Bancorp’s earnings. The highest EPS estimate is $0.45 and the lowest is $0.33. First Financial Bancorp reported earnings of $0.47 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 14.9%. The company is scheduled to issue its next earnings results on Thursday, April 23rd.

On average, analysts expect that First Financial Bancorp will report full-year earnings of $1.80 per share for the current fiscal year, with EPS estimates ranging from $1.62 to $2.00. For the next financial year, analysts forecast that the business will report earnings of $1.65 per share, with EPS estimates ranging from $1.54 to $1.76. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow First Financial Bancorp.

First Financial Bancorp (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.52 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.02). The firm had revenue of $155.67 million for the quarter, compared to analysts’ expectations of $155.33 million. First Financial Bancorp had a net margin of 26.81% and a return on equity of 9.56%. First Financial Bancorp’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS.

Several brokerages recently commented on FFBC. BidaskClub cut shares of First Financial Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, March 6th. Zacks Investment Research cut shares of First Financial Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, March 10th. TheStreet cut shares of First Financial Bancorp from a “b-” rating to a “c” rating in a research note on Monday, March 9th. Finally, ValuEngine raised shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. First Financial Bancorp has an average rating of “Hold” and an average price target of $27.75.

NASDAQ:FFBC traded up $0.88 during mid-day trading on Friday, hitting $14.39. 822,183 shares of the stock traded hands, compared to its average volume of 453,654. The business’s 50-day moving average price is $19.95 and its 200 day moving average price is $23.41. The company has a market cap of $1.37 billion, a PE ratio of 7.20 and a beta of 1.25. 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 announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.92 annualized dividend and a yield of 6.39%. First Financial Bancorp’s payout ratio is presently 42.99%.

Institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its position in First Financial Bancorp by 31.9% during the third quarter. Russell Investments Group Ltd. now owns 105,103 shares of the bank’s stock valued at $2,573,000 after purchasing an additional 25,447 shares during the last quarter. Stock Yards Bank & Trust Co. bought a new stake in shares of First Financial Bancorp in the 4th quarter worth approximately $311,000. First Trust Advisors LP lifted its holdings in shares of First Financial Bancorp by 88.9% in the 4th quarter. First Trust Advisors LP now owns 301,607 shares of the bank’s stock worth $7,673,000 after acquiring an additional 141,963 shares during the last quarter. Voya Investment Management LLC lifted its holdings in shares of First Financial Bancorp by 27.9% in the 3rd quarter. Voya Investment Management LLC now owns 811,569 shares of the bank’s stock worth $19,864,000 after acquiring an additional 177,035 shares during the last quarter. Finally, First Financial Bank Trust Division lifted its holdings in shares of First Financial Bancorp by 2.4% in the 4th quarter. First Financial Bank Trust Division now owns 654,547 shares of the bank’s stock worth $16,652,000 after acquiring an additional 15,611 shares during the last quarter. Institutional investors and hedge funds own 79.27% of the company’s stock.

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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Earnings History and Estimates for First Financial Bancorp (NASDAQ:FFBC)

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