First Financial Bancorp. (FFBC) Expected to Post Quarterly Sales of $88.30 Million
Analysts expect First Financial Bancorp. (NASDAQ:FFBC) to announce sales of $88.30 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for First Financial Bancorp.’s earnings. The lowest sales estimate is $86.70 million and the highest is $89.90 million. First Financial Bancorp. reported sales of $85.77 million during the same quarter last year, which indicates a positive year over year growth rate of 2.9%. The company is scheduled to report its next earnings report on Thursday, October 19th.
According to Zacks, analysts expect that First Financial Bancorp. will report full-year sales of $88.30 million for the current fiscal year, with estimates ranging from $346.10 million to $357.40 million. For the next fiscal year, analysts anticipate that the business will post sales of $563.40 million per share, with estimates ranging from $527.30 million to $598.30 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow First Financial Bancorp..
First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $85.97 million for the quarter, compared to analyst estimates of $89.52 million. First Financial Bancorp. had a return on equity of 10.65% and a net margin of 24.28%. During the same period last year, the firm earned $0.36 EPS.
FFBC has been the subject of a number of research analyst reports. Zacks Investment Research raised First Financial Bancorp. from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Tuesday, June 20th. BidaskClub downgraded First Financial Bancorp. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Stephens raised First Financial Bancorp. from an “equal weight” rating to an “overweight” rating and set a $31.00 target price for the company in a research report on Wednesday, July 26th. ValuEngine raised First Financial Bancorp. from a “hold” rating to a “buy” rating in a research report on Wednesday, May 31st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $29.00 target price on shares of First Financial Bancorp. in a research report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $28.63.
First Financial Bancorp. (NASDAQ FFBC) opened at 24.30 on Monday. First Financial Bancorp. has a 52-week low of $20.55 and a 52-week high of $29.80. The firm’s 50 day moving average price is $26.93 and its 200 day moving average price is $27.18. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 16.09 and a beta of 1.18.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Wednesday, August 30th. First Financial Bancorp.’s dividend payout ratio is currently 45.03%.
In other First Financial Bancorp. news, insider C Douglas Lefferson sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $25.69, for a total value of $1,027,600.00. Following the completion of the sale, the insider now directly owns 74,170 shares of the company’s stock, valued at $1,905,427.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.88% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in First Financial Bancorp. by 46,873.9% in the first quarter. BlackRock Inc. now owns 7,672,717 shares of the bank’s stock worth $210,616,000 after buying an additional 7,656,383 shares during the last quarter. Vanguard Group Inc. raised its position in First Financial Bancorp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 5,714,986 shares of the bank’s stock worth $158,306,000 after buying an additional 43,459 shares during the last quarter. Dimensional Fund Advisors LP raised its position in First Financial Bancorp. by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,689 shares of the bank’s stock worth $86,278,000 after buying an additional 46,235 shares during the last quarter. JPMorgan Chase & Co. raised its position in First Financial Bancorp. by 4.2% in the second quarter. JPMorgan Chase & Co. now owns 2,615,610 shares of the bank’s stock worth $72,453,000 after buying an additional 106,493 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in First Financial Bancorp. by 1.3% in the first quarter. Macquarie Group Ltd. now owns 2,466,492 shares of the bank’s stock worth $67,705,000 after buying an additional 30,856 shares during the last quarter. 74.31% of the stock is owned by hedge funds and other institutional investors.
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About First Financial Bancorp.
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.
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