First Financial Bancorp. (NASDAQ:FFBC) Issues Quarterly Earnings Results

First Financial Bancorp. (NASDAQ:FFBC) posted its earnings results on Friday. The bank reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59, Yahoo Finance reports. First Financial Bancorp. had a return on equity of 11.35% and a net margin of 20.74%. The business had revenue of $287.20 million during the quarter, compared to analyst estimates of $201.79 million. During the same quarter last year, the firm earned $0.76 earnings per share.

First Financial Bancorp. Price Performance

Shares of NASDAQ FFBC opened at $22.57 on Friday. First Financial Bancorp. has a fifty-two week low of $17.23 and a fifty-two week high of $24.99. The business has a 50 day moving average price of $21.76 and a two-hundred day moving average price of $21.66. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.50. The firm has a market cap of $2.15 billion, a PE ratio of 9.10 and a beta of 1.05.

First Financial Bancorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 4.08%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 37.10%.

Analyst Ratings Changes

A number of research firms have recently issued reports on FFBC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 target price on shares of First Financial Bancorp. in a research note on Tuesday, April 9th. Piper Sandler began coverage on First Financial Bancorp. in a research note on Friday, February 23rd. They issued an “overweight” rating and a $26.00 target price for the company.

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 offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.