Brokerages predict that First Financial Bancorp. (NASDAQ:FFBC – Get Rating) will post $161.80 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for First Financial Bancorp.’s earnings. The lowest sales estimate is $158.00 million and the highest is $165.60 million. First Financial Bancorp. reported sales of $158.63 million during the same quarter last year, which would suggest a positive year over year growth rate of 2%. The business is expected to issue its next earnings report on Monday, January 1st.
On average, analysts expect that First Financial Bancorp. will report full year sales of $647.55 million for the current year, with estimates ranging from $638.00 million to $657.10 million. For the next fiscal year, analysts anticipate that the company will post sales of $706.85 million, with estimates ranging from $688.00 million to $725.70 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow First Financial Bancorp..
First Financial Bancorp. (NASDAQ:FFBC – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The bank reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). First Financial Bancorp. had a return on equity of 9.63% and a net margin of 30.78%. The company had revenue of $149.11 million for the quarter, compared to analyst estimates of $151.33 million. During the same period last year, the company earned $0.50 earnings per share.
In other news, Director Vince Berta bought 2,000 shares of First Financial Bancorp. stock in a transaction on Tuesday, April 26th. The shares were bought at an average cost of $20.99 per share, for a total transaction of $41,980.00. Following the acquisition, the director now owns 27,494 shares in the company, valued at $577,099.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Archie M. Brown, Jr. acquired 5,000 shares of the business’s stock in a transaction dated Friday, April 29th. The shares were bought at an average price of $20.55 per share, for a total transaction of $102,750.00. Following the completion of the acquisition, the chief executive officer now owns 195,452 shares in the company, valued at $4,016,538.60. The disclosure for this purchase can be found here. 2.11% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of First Financial Bancorp. by 0.7% during the 1st quarter. BlackRock Inc. now owns 13,865,375 shares of the bank’s stock worth $319,597,000 after acquiring an additional 91,396 shares during the period. Vanguard Group Inc. lifted its holdings in shares of First Financial Bancorp. by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 10,495,128 shares of the bank’s stock worth $241,913,000 after acquiring an additional 147,057 shares during the period. Dimensional Fund Advisors LP increased its position in First Financial Bancorp. by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,761,470 shares of the bank’s stock worth $132,805,000 after purchasing an additional 152,105 shares in the last quarter. JPMorgan Chase & Co. increased its position in First Financial Bancorp. by 1.6% during the 4th quarter. JPMorgan Chase & Co. now owns 3,972,106 shares of the bank’s stock worth $96,840,000 after purchasing an additional 60,943 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its position in First Financial Bancorp. by 69.0% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 2,607,095 shares of the bank’s stock valued at $60,094,000 after acquiring an additional 1,064,229 shares in the last quarter. Institutional investors and hedge funds own 74.13% of the company’s stock.
NASDAQ:FFBC opened at $20.46 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.26. First Financial Bancorp. has a fifty-two week low of $19.80 and a fifty-two week high of $26.83. The stock has a market cap of $1.93 billion, a PE ratio of 9.79 and a beta of 1.05. The firm’s fifty day simple moving average is $22.27 and its 200-day simple moving average is $23.93.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be given a $0.23 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $0.92 annualized dividend and a dividend yield of 4.50%. First Financial Bancorp.’s dividend payout ratio is presently 44.02%.
About First Financial Bancorp. (Get Rating)
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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