Brokerages expect that First Financial Bancorp (NASDAQ:FFBC) will post sales of $152.00 million for the current quarter, Zacks reports. Four analysts have provided estimates for First Financial Bancorp’s earnings, with estimates ranging from $150.60 million to $153.20 million. First Financial Bancorp posted sales of $94.00 million during the same quarter last year, which suggests a positive year over year growth rate of 61.7%. The firm is scheduled to announce its next quarterly earnings results on Thursday, January 17th.
According to Zacks, analysts expect that First Financial Bancorp will report full year sales of $548.63 million for the current financial year, with estimates ranging from $545.80 million to $550.40 million. For the next fiscal year, analysts anticipate that the firm will report sales of $619.38 million, with estimates ranging from $607.30 million to $632.80 million. Zacks’ sales calculations are an average based on a survey of research firms that cover First Financial Bancorp.
First Financial Bancorp (NASDAQ:FFBC) last posted its quarterly earnings results on Thursday, October 18th. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. First Financial Bancorp had a net margin of 25.08% and a return on equity of 13.38%. The business had revenue of $152.80 million during the quarter, compared to analysts’ expectations of $151.74 million. During the same quarter in the prior year, the company posted $0.39 EPS. The business’s revenue for the quarter was up 63.6% on a year-over-year basis.
Several analysts have recently weighed in on FFBC shares. Zacks Investment Research cut shares of First Financial Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, June 22nd. BidaskClub cut shares of First Financial Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 30th. Sandler O’Neill reissued a “buy” rating and issued a $35.00 price target on shares of First Financial Bancorp in a research note on Friday, July 20th. Barclays dropped their price target on shares of First Financial Bancorp from $32.00 to $31.00 and set a “$31.40” rating for the company in a research note on Monday, July 23rd. Finally, Stephens reissued a “buy” rating and issued a $35.00 price target on shares of First Financial Bancorp in a research note on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. First Financial Bancorp currently has a consensus rating of “Hold” and an average price target of $32.13.
Shares of First Financial Bancorp stock traded down $2.52 during mid-day trading on Friday, hitting $24.90. The stock had a trading volume of 730,943 shares, compared to its average volume of 361,219. First Financial Bancorp has a 12-month low of $24.69 and a 12-month high of $33.70. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.
In related news, COO Anthony M. Stollings sold 15,847 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $31.59, for a total transaction of $500,606.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vince Berta acquired 1,500 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were bought at an average cost of $29.95 per share, with a total value of $44,925.00. Following the transaction, the director now directly owns 6,527 shares in the company, valued at approximately $195,483.65. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,143 shares of company stock valued at $64,236 in the last ninety days. 3.36% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of FFBC. Wells Fargo & Company MN boosted its position in shares of First Financial Bancorp by 13.3% during the 1st quarter. Wells Fargo & Company MN now owns 193,508 shares of the bank’s stock worth $5,679,000 after purchasing an additional 22,746 shares during the period. SG Americas Securities LLC purchased a new position in shares of First Financial Bancorp during the 1st quarter worth approximately $120,000. California Public Employees Retirement System boosted its position in shares of First Financial Bancorp by 5.1% during the 1st quarter. California Public Employees Retirement System now owns 112,303 shares of the bank’s stock worth $3,296,000 after purchasing an additional 5,458 shares during the period. Citigroup Inc. boosted its position in shares of First Financial Bancorp by 56.1% during the 1st quarter. Citigroup Inc. now owns 10,148 shares of the bank’s stock worth $298,000 after purchasing an additional 3,647 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of First Financial Bancorp during the 1st quarter worth approximately $357,000. 73.91% of the stock is owned by hedge funds and other institutional investors.
First Financial Bancorp Company Profile
First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and other banking, and banking-related services to individuals and businesses in Ohio, Indiana, and Kentucky. The company accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers.
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