Brokerages expect First Financial Bancorp (NASDAQ:FFBC) to report sales of $154.99 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for First Financial Bancorp’s earnings. The highest sales estimate is $155.56 million and the lowest is $154.60 million. First Financial Bancorp reported sales of $155.46 million in the same quarter last year, which would suggest a negative year over year growth rate of 0.3%. The business is expected to report its next quarterly earnings report on Wednesday, January 22nd.
On average, analysts expect that First Financial Bancorp will report full-year sales of $616.58 million for the current fiscal year, with estimates ranging from $614.70 million to $619.40 million. For the next year, analysts anticipate that the company will report sales of $627.49 million, with estimates ranging from $620.00 million to $635.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow First Financial Bancorp.
First Financial Bancorp (NASDAQ:FFBC) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.02. The firm had revenue of $154.68 million during the quarter, compared to analyst estimates of $150.98 million. First Financial Bancorp had a return on equity of 10.13% and a net margin of 27.72%. During the same quarter in the previous year, the firm earned $0.58 EPS.
In other news, Director Vince Berta acquired 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average cost of $22.45 per share, with a total value of $33,675.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Claude E. Davis sold 26,657 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.32, for a total value of $674,955.24. Following the sale, the chairman now directly owns 329,860 shares in the company, valued at $8,352,055.20. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System raised its stake in First Financial Bancorp by 0.8% in the second quarter. Arizona State Retirement System now owns 152,971 shares of the bank’s stock valued at $3,705,000 after buying an additional 1,193 shares during the last quarter. HighTower Advisors LLC grew its holdings in First Financial Bancorp by 0.3% during the second quarter. HighTower Advisors LLC now owns 203,346 shares of the bank’s stock worth $4,923,000 after acquiring an additional 536 shares during the period. Royal Bank of Canada grew its holdings in First Financial Bancorp by 14.4% during the second quarter. Royal Bank of Canada now owns 38,825 shares of the bank’s stock worth $939,000 after acquiring an additional 4,880 shares during the period. Rhumbline Advisers grew its holdings in First Financial Bancorp by 6.2% during the third quarter. Rhumbline Advisers now owns 319,118 shares of the bank’s stock worth $7,810,000 after acquiring an additional 18,722 shares during the period. Finally, Foundry Partners LLC grew its holdings in First Financial Bancorp by 13.2% during the third quarter. Foundry Partners LLC now owns 15,214 shares of the bank’s stock worth $372,000 after acquiring an additional 1,776 shares during the period. 74.04% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ FFBC traded down $0.03 during trading hours on Thursday, hitting $24.27. The company’s stock had a trading volume of 224,900 shares, compared to its average volume of 346,975. First Financial Bancorp has a 12 month low of $22.07 and a 12 month high of $28.59. 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 has a market cap of $2.43 billion, a P/E ratio of 10.64 and a beta of 1.22. The company’s 50 day simple moving average is $24.07 and its two-hundred day simple moving average is $23.98.
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 issued a dividend of $0.23 per share. The ex-dividend date is Friday, November 29th. This represents a $0.92 annualized dividend and a dividend yield of 3.79%. First Financial Bancorp’s dividend payout ratio (DPR) is 40.35%.
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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