First Financial Bancorp. (FFBC) Expected to Announce Quarterly Sales of $90.03 Million

Brokerages expect First Financial Bancorp. (NASDAQ:FFBC) to announce sales of $90.03 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for First Financial Bancorp.’s earnings, with estimates ranging from $88.80 million to $90.80 million. First Financial Bancorp. posted sales of $87.11 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.4%. The business is expected to announce its next earnings results on Thursday, January 18th.

On average, analysts expect that First Financial Bancorp. will report full year sales of $90.03 million for the current fiscal year, with estimates ranging from $352.80 million to $360.40 million. For the next year, analysts forecast that the company will report sales of $545.13 million per share, with estimates ranging from $528.60 million to $563.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for First Financial Bancorp..

First Financial Bancorp. (NASDAQ:FFBC) last issued its earnings results on Thursday, October 19th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.02. First Financial Bancorp. had a return on equity of 11.22% and a net margin of 26.49%. The business had revenue of $83.95 million during the quarter, compared to analysts’ expectations of $88.30 million. During the same period in the prior year, the firm posted $0.37 EPS.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised First Financial Bancorp. from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Tuesday, October 24th. Barclays PLC raised their price target on First Financial Bancorp. from $25.00 to $27.00 and gave the company an “underweight” rating in a report on Monday, October 23rd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $28.00 price target on shares of First Financial Bancorp. in a report on Friday, October 20th. Piper Jaffray Companies set a $28.00 price target on First Financial Bancorp. and gave the company a “hold” rating in a report on Friday, October 6th. Finally, ValuEngine cut First Financial Bancorp. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.00.

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First Financial Bancorp. (NASDAQ FFBC) opened at $26.70 on Monday. First Financial Bancorp. has a twelve month low of $22.80 and a twelve month high of $29.80. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $1,657.00, a P/E ratio of 16.90, a PEG ratio of 1.72 and a beta of 1.17.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be given a $0.17 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.55%. First Financial Bancorp.’s payout ratio is 43.04%.

Large investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in shares of First Financial Bancorp. by 3.2% in the 2nd quarter. Macquarie Group Ltd. now owns 2,544,438 shares of the bank’s stock worth $70,481,000 after purchasing an additional 77,946 shares during the last quarter. Nicholas Company Inc. boosted its position in shares of First Financial Bancorp. by 10.8% in the 2nd quarter. Nicholas Company Inc. now owns 205,734 shares of the bank’s stock worth $5,698,000 after purchasing an additional 20,015 shares during the last quarter. American Century Companies Inc. boosted its position in shares of First Financial Bancorp. by 34.3% in the 2nd quarter. American Century Companies Inc. now owns 262,310 shares of the bank’s stock worth $7,266,000 after purchasing an additional 67,024 shares during the last quarter. Bank of America Corp DE boosted its position in shares of First Financial Bancorp. by 254.4% in the 1st quarter. Bank of America Corp DE now owns 226,074 shares of the bank’s stock worth $6,206,000 after purchasing an additional 162,292 shares during the last quarter. Finally, State Street Corp boosted its position in shares of First Financial Bancorp. by 14.6% in the 1st quarter. State Street Corp now owns 1,939,096 shares of the bank’s stock worth $53,223,000 after purchasing an additional 247,198 shares during the last quarter. Institutional investors and hedge funds own 76.89% 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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