Wall Street brokerages expect that First Financial Bancorp. (NASDAQ:FFBC) will post $0.51 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for First Financial Bancorp.’s earnings. The lowest EPS estimate is $0.49 and the highest is $0.55. First Financial Bancorp. reported earnings of $0.40 per share in the same quarter last year, which would suggest a positive year over year growth rate of 27.5%. The firm is expected to report its next earnings report after the market closes on Thursday, July 22nd.
On average, analysts expect that First Financial Bancorp. will report full-year earnings of $1.99 per share for the current year, with EPS estimates ranging from $1.92 to $2.08. For the next financial year, analysts forecast that the business will post earnings of $1.77 per share, with EPS estimates ranging from $1.74 to $1.80. Zacks’ earnings per share averages 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 announced its earnings results on Wednesday, April 21st. The bank reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $154.20 million for the quarter, compared to analyst estimates of $157.18 million. First Financial Bancorp. had a net margin of 24.85% and a return on equity of 8.09%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share.
First Financial Bancorp. stock traded down $0.57 during midday trading on Thursday, hitting $21.78. 783 shares of the company’s stock were exchanged, compared to its average volume of 382,554. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $2.12 billion, a PE ratio of 12.31 and a beta of 1.22. First Financial Bancorp. has a 12-month low of $11.28 and a 12-month high of $26.62. The business has a 50 day moving average price of $24.40.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date of this dividend was Friday, May 28th. First Financial Bancorp.’s payout ratio is currently 55.09%.
In related news, Director Thomas Murray Obrien sold 39,908 shares of the stock in a transaction dated Thursday, May 20th. The shares were sold at an average price of $25.42, for a total transaction of $1,014,461.36. Following the completion of the transaction, the director now directly owns 38,600 shares of the company’s stock, valued at $981,212. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Claude E. Davis sold 16,917 shares of the firm’s stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $25.55, for a total transaction of $432,229.35. Following the completion of the sale, the chairman now owns 221,607 shares of the company’s stock, valued at approximately $5,662,058.85. The disclosure for this sale can be found here. Insiders have sold 89,892 shares of company stock valued at $2,293,206 in the last 90 days. Company insiders own 2.00% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue grew its stake in shares of First Financial Bancorp. by 2.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 67,322 shares of the bank’s stock worth $1,590,000 after purchasing an additional 1,410 shares during the period. Advisor Partners LLC lifted its stake in First Financial Bancorp. by 6.6% in the 1st quarter. Advisor Partners LLC now owns 12,950 shares of the bank’s stock valued at $311,000 after buying an additional 802 shares in the last quarter. Principal Financial Group Inc. grew its holdings in First Financial Bancorp. by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 757,659 shares of the bank’s stock valued at $18,183,000 after buying an additional 10,805 shares during the last quarter. Squarepoint Ops LLC increased its position in First Financial Bancorp. by 73.0% during the first quarter. Squarepoint Ops LLC now owns 39,545 shares of the bank’s stock worth $949,000 after buying an additional 16,692 shares in the last quarter. Finally, Paloma Partners Management Co raised its holdings in shares of First Financial Bancorp. by 29.3% in the first quarter. Paloma Partners Management Co now owns 13,988 shares of the bank’s stock worth $336,000 after acquiring an additional 3,171 shares during the last quarter. 72.64% of the stock is owned by institutional investors and hedge funds.
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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