Brokerages predict that First Financial Bancorp (NASDAQ:FFBC) will post sales of $154.99 million for the current quarter, Zacks reports. Three analysts have provided estimates for First Financial Bancorp’s earnings, with the highest sales estimate coming in at $155.56 million and the lowest estimate coming in at $154.60 million. First Financial Bancorp posted sales of $155.46 million during the same quarter last year, which suggests a negative year over year growth rate of 0.3%. The business is scheduled to issue its next quarterly earnings results on Wednesday, January 22nd.
According to Zacks, analysts expect that First Financial Bancorp will report full-year sales of $616.58 million for the current year, with estimates ranging from $614.70 million to $619.40 million. For the next year, analysts forecast that the firm will post sales of $627.49 million, with estimates ranging from $620.00 million to $635.30 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for First Financial Bancorp.
First Financial Bancorp (NASDAQ:FFBC) last posted its earnings results on Thursday, October 17th. The bank reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The company had revenue of $154.68 million for the quarter, compared to analyst estimates 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 last year, the business posted $0.58 earnings per share.
In related news, Chairman Claude E. Davis sold 22,420 shares of First Financial Bancorp stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.40, for a total transaction of $569,468.00. Following the completion of the sale, the chairman now owns 356,517 shares of the company’s stock, valued at approximately $9,055,531.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Claude E. Davis sold 26,657 shares of First Financial Bancorp stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.32, for a total transaction of $674,955.24. Following the sale, the chairman now directly owns 329,860 shares of the company’s stock, valued at approximately $8,352,055.20. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in FFBC. Parallel Advisors LLC acquired a new stake in First Financial Bancorp in the 3rd quarter worth about $25,000. Versant Capital Management Inc raised its stake in First Financial Bancorp by 109.5% in the 3rd quarter. Versant Capital Management Inc now owns 1,274 shares of the bank’s stock worth $31,000 after purchasing an additional 666 shares in the last quarter. First Mercantile Trust Co. raised its stake in First Financial Bancorp by 11.6% in the 3rd quarter. First Mercantile Trust Co. now owns 4,057 shares of the bank’s stock worth $99,000 after purchasing an additional 422 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in First Financial Bancorp in the 2nd quarter worth about $189,000. Finally, Zebra Capital Management LLC acquired a new stake in First Financial Bancorp in the 2nd quarter worth about $229,000. 74.04% of the stock is owned by institutional investors and hedge funds.
FFBC traded down $0.03 during mid-day trading on Thursday, hitting $24.27. The stock had a trading volume of 224,900 shares, compared to its average volume of 346,975. The stock’s fifty day simple moving average is $24.07 and its 200-day simple moving average is $23.98. First Financial Bancorp has a 1-year low of $22.07 and a 1-year high of $28.59. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 10.64 and a beta of 1.22. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.96 and a quick ratio of 0.95.
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 given 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 (DPR) is presently 40.35%.
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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