First Financial Bancorp. (FFBC) to Release Quarterly Earnings on Thursday

Posted by Defense World Staff on Apr 13th, 2023

First Financial Bancorp. (NASDAQ:FFBC – Get Rating) is scheduled to be announcing its earnings results after the market closes on Thursday, April 20th. Analysts expect the company to announce earnings of $0.70 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

First Financial Bancorp. (NASDAQ:FFBC – Get Rating) last released its earnings results on Friday, January 27th. The bank reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.05. First Financial Bancorp. had a return on equity of 10.74% and a net margin of 28.09%. The firm had revenue of $245.95 million for the quarter, compared to the consensus estimate of $199.77 million. During the same period in the prior year, the business posted $0.58 earnings per share. On average, analysts expect First Financial Bancorp. to post $3 EPS for the current fiscal year and $2 EPS for the next fiscal year.

First Financial Bancorp. Stock Performance

NASDAQ FFBC opened at $20.57 on Thursday. The business’s 50-day moving average price is $23.44 and its 200 day moving average price is $24.04. First Financial Bancorp. has a twelve month low of $18.75 and a twelve month high of $26.72. The company has a market capitalization of $1.95 billion, a PE ratio of 8.90 and a beta of 1.06. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72.

First Financial Bancorp. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, February 28th. This represents a $0.92 annualized dividend and a yield of 4.47%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 39.83%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FFBC. StockNews.com began coverage on First Financial Bancorp. in a research note on Thursday, March 16th. They set a “hold” rating for the company. Keefe, Bruyette & Woods dropped their price target on First Financial Bancorp. from $26.00 to $23.00 and set a “market perform” rating for the company in a research note on Thursday, April 6th.

Insider Buying and Selling

In related news, insider Claude E. Davis sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $25.55, for a total value of $638,750.00. Following the sale, the insider now owns 75,906 shares of the company’s stock, valued at approximately $1,939,398.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.11% of the company’s stock.

Institutional Trading of First Financial Bancorp.

Several hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp raised its stake in First Financial Bancorp. by 11.1% during the 4th quarter. Truist Financial Corp now owns 14,807 shares of the bank’s stock valued at $359,000 after acquiring an additional 1,474 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in shares of First Financial Bancorp. in the 4th quarter worth $48,000. CI Private Wealth LLC acquired a new position in shares of First Financial Bancorp. in the 4th quarter worth $312,000. Captrust Financial Advisors acquired a new position in shares of First Financial Bancorp. in the 4th quarter worth $249,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of First Financial Bancorp. in the 4th quarter worth $704,000. Institutional investors own 73.35% of the company’s stock.

First Financial Bancorp. Company Profile

(Get Rating)

First Financial Bancorp operates as a bank holding company. The firm operates through its wholly owned subsidiary, First Financial Bank, which engages in the provision of commercial banking, financial and other related activities. It operates through the following business lines: Commercial, Retail Banking, Mortgage Banking, Wealth Management, Investment Commercial Real Estate, and Commercial Finance.