Brokerages expect that First Financial Bancorp (NASDAQ:FFBC) will announce sales of $150.90 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for First Financial Bancorp’s earnings. The lowest sales estimate is $149.90 million and the highest is $151.90 million. First Financial Bancorp posted sales of $92.75 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 62.7%. The company is expected to announce its next quarterly earnings report on Thursday, April 18th.
According to Zacks, analysts expect that First Financial Bancorp will report full-year sales of $613.00 million for the current financial year, with estimates ranging from $606.80 million to $622.40 million. For the next year, analysts expect that the firm will report sales of $634.63 million, with estimates ranging from $626.00 million to $644.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for First Financial Bancorp.
First Financial Bancorp (NASDAQ:FFBC) last released its earnings results on Wednesday, January 23rd. The bank reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. First Financial Bancorp had a net margin of 26.81% and a return on equity of 11.63%. The company had revenue of $155.46 million during the quarter, compared to analysts’ expectations of $152.75 million. During the same quarter last year, the business earned $0.45 EPS.
Shares of FFBC stock traded up $0.02 during mid-day trading on Friday, hitting $25.41. The stock had a trading volume of 238,529 shares, compared to its average volume of 371,159. First Financial Bancorp has a fifty-two week low of $22.27 and a fifty-two week high of $33.70. The stock has a market capitalization of $2.75 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 1.22 and a beta of 1.23. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.91 and a current ratio of 0.91.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.88 dividend on an annualized basis and a yield of 3.46%. This is a boost from First Financial Bancorp’s previous quarterly dividend of $0.20. First Financial Bancorp’s payout ratio is presently 35.09%.
First Financial Bancorp declared that its Board of Directors has initiated a share repurchase program on Monday, January 14th that allows the company to buyback 0 shares. This buyback authorization allows the bank to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in FFBC. Norges Bank acquired a new position in First Financial Bancorp during the fourth quarter worth about $28,757,000. Oregon Public Employees Retirement Fund acquired a new position in First Financial Bancorp during the fourth quarter worth about $37,000. Macquarie Group Ltd. raised its position in First Financial Bancorp by 12.2% during the third quarter. Macquarie Group Ltd. now owns 4,550,539 shares of the bank’s stock worth $135,161,000 after acquiring an additional 495,073 shares during the last quarter. BlackRock Inc. raised its position in First Financial Bancorp by 3.4% during the third quarter. BlackRock Inc. now owns 13,990,516 shares of the bank’s stock worth $415,518,000 after acquiring an additional 465,311 shares during the last quarter. Finally, Walthausen & Co. LLC acquired a new position in First Financial Bancorp during the third quarter worth about $11,108,000. Institutional investors own 73.71% of the company’s stock.
First Financial Bancorp Company Profile
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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