Brokerages forecast that First Financial Bancorp. (NASDAQ:FFBC) will post sales of $88.30 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for First Financial Bancorp.’s earnings, with the lowest sales estimate coming in at $86.70 million and the highest estimate coming in at $89.90 million. First Financial Bancorp. reported sales of $85.77 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The business is expected to announce its next quarterly 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 financial year, with estimates ranging from $346.10 million to $357.40 million. For the next financial 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’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for First Financial Bancorp..

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). The business had revenue of $85.97 million during the quarter, compared to the consensus estimate of $89.52 million. First Financial Bancorp. had a net margin of 24.28% and a return on equity of 10.65%. During the same quarter last year, the business earned $0.36 EPS.

A number of analysts recently weighed in on FFBC shares. BidaskClub downgraded First Financial Bancorp. from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Barclays PLC dropped their target price on First Financial Bancorp. from $27.00 to $25.00 and set an “underweight” rating for the company in a research report on Thursday, July 27th. Zacks Investment Research downgraded First Financial Bancorp. from a “buy” rating to a “hold” rating in a research report on Monday, June 26th. Piper Jaffray Companies set a $28.00 target price on First Financial Bancorp. and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Finally, Sandler O’Neill upgraded First Financial Bancorp. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $28.00 to $29.00 in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. First Financial Bancorp. currently has a consensus rating of “Hold” and a consensus target price of $28.50.

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First Financial Bancorp. (NASDAQ:FFBC) opened at 25.05 on Friday. First Financial Bancorp. has a one year low of $20.55 and a one year high of $29.80. The company has a 50-day moving average of $24.53 and a 200-day moving average of $26.44. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 16.59 and a beta of 1.19.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.71%. First Financial Bancorp.’s dividend payout ratio is presently 45.03%.

In related news, insider C Douglas Lefferson sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $25.69, for a total transaction of $1,027,600.00. Following the completion of the transaction, the insider now owns 74,170 shares in the company, valued at $1,905,427.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have purchased 797 shares of company stock valued at $20,099. 1.88% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in FFBC. Ameritas Investment Partners Inc. purchased a new stake in First Financial Bancorp. in the first quarter worth $139,000. Bank of Montreal Can grew its stake in First Financial Bancorp. by 50.3% in the first quarter. Bank of Montreal Can now owns 5,580 shares of the bank’s stock worth $153,000 after purchasing an additional 1,867 shares during the period. SG Americas Securities LLC grew its stake in First Financial Bancorp. by 16.6% in the first quarter. SG Americas Securities LLC now owns 6,492 shares of the bank’s stock worth $178,000 after purchasing an additional 922 shares during the period. IFP Advisors Inc grew its stake in First Financial Bancorp. by 0.6% in the second quarter. IFP Advisors Inc now owns 6,542 shares of the bank’s stock worth $181,000 after purchasing an additional 36 shares during the period. Finally, Amalgamated Bank grew its stake in First Financial Bancorp. by 1.2% in the second quarter. Amalgamated Bank now owns 8,406 shares of the bank’s stock worth $233,000 after purchasing an additional 102 shares during the period. Institutional investors own 74.23% of the company’s stock.

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.

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Earnings History and Estimates for First Financial Bancorp. (NASDAQ:FFBC)

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