First Financial Bancorp (NASDAQ:FFBC) Issues Quarterly Earnings Results

First Financial Bancorp (NASDAQ:FFBC) released its quarterly earnings data on Thursday, January 18th. The bank reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.05, Bloomberg Earnings reports. The firm had revenue of $94.00 million for the quarter, compared to analyst estimates of $90.05 million. First Financial Bancorp had a net margin of 26.11% and a return on equity of 11.51%. During the same quarter in the prior year, the business earned $0.38 earnings per share.

First Financial Bancorp (FFBC) traded up $0.70 on Friday, reaching $27.80. 407,602 shares of the company’s stock traded hands, compared to its average volume of 343,537. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $1,725.27, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 1.34 and a beta of 1.19. First Financial Bancorp has a fifty-two week low of $22.80 and a fifty-two week high of $29.50.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.73%. This is an increase from First Financial Bancorp’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, February 28th. First Financial Bancorp’s dividend payout ratio (DPR) is presently 42.50%.

A number of analysts have recently weighed in on FFBC shares. Hilliard Lyons upgraded shares of First Financial Bancorp from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Monday, January 22nd. BidaskClub lowered shares of First Financial Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 16th. Royal Bank of Canada restated a “hold” rating and set a $28.00 price target on shares of First Financial Bancorp in a research report on Friday, October 20th. FIG Partners upgraded shares of First Financial Bancorp from a “market perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a research report on Friday. Finally, Zacks Investment Research upgraded shares of First Financial Bancorp from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $29.90.

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First Financial Bancorp Company Profile

First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.

Earnings History for First Financial Bancorp (NASDAQ:FFBC)

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