First Financial Bancorp (NASDAQ:FFBC) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, October 17th. Analysts expect First Financial Bancorp to post earnings of $0.54 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
First Financial Bancorp (NASDAQ:FFBC) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. First Financial Bancorp had a return on equity of 10.45% and a net margin of 28.03%. The company had revenue of $156.94 million for the quarter, compared to analysts’ expectations of $153.34 million. During the same period last year, the firm earned $0.57 earnings per share. On average, analysts expect First Financial Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
First Financial Bancorp stock opened at $24.26 on Wednesday. First Financial Bancorp has a 1-year low of $22.07 and a 1-year high of $28.59. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market cap of $2.40 billion, a PE ratio of 10.64 and a beta of 1.25. The stock’s fifty day moving average is $24.10 and its two-hundred day moving average is $24.08.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were paid a $0.23 dividend. The ex-dividend date was Thursday, August 29th. This is a boost from First Financial Bancorp’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 3.79%. First Financial Bancorp’s dividend payout ratio (DPR) is currently 40.35%.
In other news, 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 owns 329,860 shares in the company, valued at $8,352,055.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Claude E. Davis sold 22,420 shares of First Financial Bancorp stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.40, for a total value of $569,468.00. Following the sale, the chairman now owns 356,517 shares in the company, valued at approximately $9,055,531.80. The disclosure for this sale can be found here. Insiders have sold 54,077 shares of company stock worth $1,372,473 in the last quarter. Insiders own 2.00% of the company’s stock.
FFBC has been the topic of a number of analyst reports. ValuEngine upgraded First Financial Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub upgraded First Financial Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Zacks Investment Research upgraded First Financial Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Piper Jaffray Companies upgraded First Financial Bancorp from a “neutral” rating to an “overweight” rating and raised their price target for the company from $28.00 to $29.00 in a research note on Thursday, June 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.50.
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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