Analysts predict that First Financial Bancorp (NASDAQ:FFBC) will report earnings of $0.54 per share for the current fiscal quarter, Zacks reports. Three analysts have made estimates for First Financial Bancorp’s earnings, with estimates ranging from $0.53 to $0.55. First Financial Bancorp posted earnings per share of $0.58 during the same quarter last year, which indicates a negative year-over-year growth rate of 6.9%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, October 17th.
According to Zacks, analysts expect that First Financial Bancorp will report full year earnings of $2.12 per share for the current year, with EPS estimates ranging from $2.09 to $2.16. For the next financial year, analysts forecast that the firm will post earnings of $2.17 per share, with EPS estimates ranging from $2.11 to $2.26. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for First Financial Bancorp.
First Financial Bancorp (NASDAQ:FFBC) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. First Financial Bancorp had a net margin of 28.03% and a return on equity of 10.45%. The business had revenue of $156.94 million during the quarter, compared to analyst estimates of $153.34 million. During the same period last year, the firm posted $0.57 EPS.
FFBC has been the subject of a number of research analyst reports. Piper Jaffray Companies raised shares of First Financial Bancorp from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $28.00 to $29.00 in a report on Thursday, June 20th. BidaskClub raised shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. ValuEngine raised shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $28.50.
FFBC traded up $0.26 during trading on Monday, reaching $24.23. 29,895 shares of the company traded hands, compared to its average volume of 387,732. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.93 and a current ratio of 0.93. First Financial Bancorp has a 12-month low of $22.07 and a 12-month high of $28.59. The firm has a fifty day simple moving average of $24.12 and a 200 day simple moving average of $24.08. The company has a market cap of $2.41 billion, a P/E ratio of 10.61 and a beta of 1.25.
In other news, Director Vince Berta bought 1,500 shares of the stock in a transaction dated Tuesday, August 27th. The stock was purchased at an average cost of $22.45 per share, for a total transaction of $33,675.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Claude E. Davis sold 26,657 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $25.32, for a total value of $674,955.24. Following the transaction, the chairman now owns 329,860 shares of the company’s stock, valued at $8,352,055.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,077 shares of company stock valued at $1,372,473. Insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of FFBC. Nordea Investment Management AB increased its position in First Financial Bancorp by 3.7% during the first quarter. Nordea Investment Management AB now owns 168,570 shares of the bank’s stock worth $4,056,000 after buying an additional 5,973 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in First Financial Bancorp by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 38,619 shares of the bank’s stock valued at $935,000 after purchasing an additional 700 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in First Financial Bancorp in the 2nd quarter valued at approximately $303,000. Kirr Marbach & Co. LLC IN lifted its stake in First Financial Bancorp by 9.2% in the 2nd quarter. Kirr Marbach & Co. LLC IN now owns 23,774 shares of the bank’s stock valued at $576,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in First Financial Bancorp by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 152,971 shares of the bank’s stock valued at $3,705,000 after purchasing an additional 1,193 shares during the last quarter. Hedge funds and other institutional investors own 74.00% of the company’s stock.
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.
See Also: What is quantitative easing?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Financial Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.