First Financial Bancorp (NASDAQ:FFBC) – Equities researchers at Piper Sandler dropped their Q1 2020 EPS estimates for shares of First Financial Bancorp in a note issued to investors on Tuesday, March 24th. Piper Sandler analyst R. Siefers now expects that the bank will post earnings per share of $0.45 for the quarter, down from their prior forecast of $0.50. Piper Sandler also issued estimates for First Financial Bancorp’s Q2 2020 earnings at $0.38 EPS, Q3 2020 earnings at $0.37 EPS, Q4 2020 earnings at $0.40 EPS, Q1 2021 earnings at $0.39 EPS, Q2 2021 earnings at $0.41 EPS, Q3 2021 earnings at $0.42 EPS, Q4 2021 earnings at $0.42 EPS and FY2021 earnings at $1.65 EPS.
Other research analysts have also recently issued reports about the stock. TheStreet cut shares of First Financial Bancorp from a “b-” rating to a “c” rating in a research note on Monday, March 9th. Zacks Investment Research cut shares of First Financial Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, March 10th. BidaskClub cut shares of First Financial Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday, March 6th. Finally, ValuEngine raised shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. First Financial Bancorp has an average rating of “Hold” and an average price target of $27.75.
Shares of NASDAQ:FFBC opened at $14.39 on Thursday. The company’s 50 day simple moving average is $19.95 and its 200 day simple moving average is $23.41. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 7.20 and a beta of 1.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.95 and a quick ratio of 0.95. First Financial Bancorp has a 1 year low of $11.82 and a 1 year high of $26.19.
First Financial Bancorp (NASDAQ:FFBC) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.02). The business had revenue of $155.67 million during the quarter, compared to analyst estimates of $155.33 million. First Financial Bancorp had a net margin of 26.81% and a return on equity of 9.56%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.92 annualized dividend and a dividend yield of 6.39%. First Financial Bancorp’s dividend payout ratio is 42.99%.
Several institutional investors have recently modified their holdings of FFBC. Voya Investment Management LLC grew its stake in shares of First Financial Bancorp by 27.9% in the third quarter. Voya Investment Management LLC now owns 811,569 shares of the bank’s stock worth $19,864,000 after purchasing an additional 177,035 shares during the last quarter. Stifel Financial Corp lifted its holdings in First Financial Bancorp by 3.7% in the third quarter. Stifel Financial Corp now owns 94,466 shares of the bank’s stock valued at $2,312,000 after buying an additional 3,397 shares during the period. California State Teachers Retirement System lifted its holdings in First Financial Bancorp by 1.2% in the third quarter. California State Teachers Retirement System now owns 151,914 shares of the bank’s stock valued at $3,718,000 after buying an additional 1,814 shares during the period. Man Group plc acquired a new position in First Financial Bancorp in the third quarter valued at $4,710,000. Finally, Metropolitan Life Insurance Co NY lifted its holdings in First Financial Bancorp by 4.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 31,436 shares of the bank’s stock valued at $769,000 after buying an additional 1,458 shares during the period. 79.27% of the stock is currently owned by 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 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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