Wall Street brokerages expect First Financial Bancorp (NASDAQ:FFBC) to post sales of $150.16 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for First Financial Bancorp’s earnings, with estimates ranging from $148.38 million to $151.30 million. First Financial Bancorp reported sales of $152.17 million in the same quarter last year, which indicates a negative year over year growth rate of 1.3%. The company is expected to issue its next earnings report on Thursday, October 17th.
According to Zacks, analysts expect that First Financial Bancorp will report full year sales of $613.50 million for the current year, with estimates ranging from $609.90 million to $616.20 million. For the next fiscal year, analysts forecast that the firm will report sales of $647.99 million, with estimates ranging from $645.40 million to $652.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover First Financial Bancorp.
First Financial Bancorp (NASDAQ:FFBC) last issued its earnings results on Thursday, July 18th. The bank reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The firm had revenue of $156.94 million during the quarter, compared to the consensus estimate of $153.34 million. First Financial Bancorp had a net margin of 28.03% and a return on equity of 10.45%. During the same quarter in the previous year, the firm posted $0.57 earnings per share.
In other First Financial Bancorp news, insider Richard S. Dennen sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $25.61, for a total value of $128,050.00. Following the completion of the transaction, the insider now owns 80,641 shares in the company, valued at $2,065,216.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its stake in First Financial Bancorp by 118.3% in the first quarter. Versant Capital Management Inc now owns 2,240 shares of the bank’s stock valued at $53,000 after acquiring an additional 1,214 shares in the last quarter. Investors Research Corp acquired a new position in First Financial Bancorp in the first quarter valued at $96,000. Trustcore Financial Services LLC acquired a new position in First Financial Bancorp in the first quarter valued at $139,000. Almanack Investment Partners LLC. acquired a new position in First Financial Bancorp in the second quarter valued at $189,000. Finally, Eagle Ridge Investment Management acquired a new position in First Financial Bancorp in the first quarter valued at $200,000. Institutional investors own 74.60% of the company’s stock.
Shares of FFBC stock traded down $0.09 on Thursday, reaching $23.96. 246,259 shares of the stock were exchanged, compared to its average volume of 351,076. The company has a quick ratio of 1.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average price is $24.21. The stock has a market cap of $2.37 billion, a P/E ratio of 10.51 and a beta of 1.23. First Financial Bancorp has a twelve month low of $22.07 and a twelve month high of $32.25.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.84%. The ex-dividend date is Thursday, August 29th. This is an increase from First Financial Bancorp’s previous quarterly dividend of $0.22. First Financial Bancorp’s dividend payout ratio is currently 38.60%.
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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