Wall Street brokerages expect that First Financial Bancorp (NASDAQ:FFBC) will post $150.16 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for First Financial Bancorp’s earnings. The lowest sales estimate is $148.38 million and the highest is $151.30 million. First Financial Bancorp reported sales of $152.17 million during the same quarter last year, which indicates a negative year over year growth rate of 1.3%. The firm is scheduled to issue its next quarterly earnings results 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 financial year, with estimates ranging from $609.90 million to $616.20 million. For the next fiscal year, analysts expect 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 research firms that cover First Financial Bancorp.
First Financial Bancorp (NASDAQ:FFBC) last issued its earnings results on Thursday, July 18th. The bank reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $156.94 million during the quarter, compared to analysts’ expectations of $153.34 million. During the same period in the prior year, the business earned $0.57 EPS.
Shares of FFBC stock traded down $0.10 during mid-day trading on Thursday, hitting $23.25. The stock had a trading volume of 199,719 shares, compared to its average volume of 343,094. First Financial Bancorp has a 12-month low of $22.07 and a 12-month high of $32.25. The firm has a market capitalization of $2.29 billion, a P/E ratio of 10.20 and a beta of 1.23. The firm’s 50-day moving average is $24.23 and its two-hundred day moving average is $24.76. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be paid a dividend of $0.23 per share. 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 dividend yield of 3.96%. The ex-dividend date is Thursday, August 29th. First Financial Bancorp’s dividend payout ratio is 38.60%.
In related news, insider Richard S. Dennen sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $25.61, for a total transaction of $128,050.00. Following the completion of the sale, the insider now directly owns 80,641 shares in the company, valued at approximately $2,065,216.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of FFBC. Versant Capital Management Inc lifted its stake in shares of First Financial Bancorp by 118.3% during the 1st quarter. Versant Capital Management Inc now owns 2,240 shares of the bank’s stock worth $53,000 after purchasing an additional 1,214 shares during the last quarter. Investors Research Corp purchased a new stake in shares of First Financial Bancorp during the 1st quarter worth $96,000. Trustcore Financial Services LLC purchased a new stake in shares of First Financial Bancorp during the 1st quarter worth $139,000. Almanack Investment Partners LLC. purchased a new stake in shares of First Financial Bancorp during the 2nd quarter worth $189,000. Finally, Eagle Ridge Investment Management purchased a new stake in shares of First Financial Bancorp during the 1st quarter worth $200,000. Hedge funds and other institutional investors own 74.72% of the company’s stock.
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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