First Financial Bancorp (NASDAQ:FFBC) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

First Financial Bancorp (NASDAQ:FFBC) issued its quarterly earnings data on Thursday. The bank reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02, Bloomberg Earnings reports. First Financial Bancorp had a return on equity of 10.45% and a net margin of 28.03%. During the same quarter last year, the business earned $0.58 earnings per share.

NASDAQ:FFBC traded up $0.21 during mid-day trading on Thursday, reaching $24.18. The stock had a trading volume of 159,319 shares, compared to its average volume of 346,755. The firm has a 50 day moving average price of $24.15 and a two-hundred day moving average price of $24.08. The stock has a market capitalization of $2.41 billion, a P/E ratio of 10.61 and a beta of 1.25. First Financial Bancorp has a one year low of $22.07 and a one year high of $28.59. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.93.

In related news, Chairman Claude E. Davis sold 26,657 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $25.32, for a total value of $674,955.24. Following the completion of the sale, the chairman now owns 329,860 shares in the company, valued at approximately $8,352,055.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard S. Dennen sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $25.61, for a total value of $128,050.00. Following the completion of the sale, the insider now owns 80,641 shares of the company’s stock, valued at approximately $2,065,216.01. The disclosure for this sale can be found here. Insiders sold a total of 54,077 shares of company stock valued at $1,372,473 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on the company. ValuEngine raised First Financial Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded First Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, October 10th. Piper Jaffray Companies upgraded First Financial Bancorp from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $28.00 to $29.00 in a research report on Thursday, June 20th. Finally, BidaskClub upgraded First Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $28.50.

About First Financial Bancorp

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. 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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Earnings History for First Financial Bancorp (NASDAQ:FFBC)

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