Trade Report: The First Financial Bancorp (FFBC) to Release Earnings on Thursday

The First Financial Bancorp (FFBC) to Release Earnings on Thursday

First Financial Bancorp (NASDAQ:FFBC) is scheduled to post its Q316 quarterly earnings results on Thursday, October 20th. Analysts expect First Financial Bancorp to post earnings of $0.36 per share and revenue of $88.26 million for the quarter.

First Financial Bancorp (NASDAQ:FFBC) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. First Financial Bancorp had a return on equity of 9.82% and a net margin of 22.23%. During the same period in the prior year, the company earned $0.31 earnings per share. On average, analysts expect First Financial Bancorp to post $1.4 EPS for the current fiscal year and $1.49 EPS for the next fiscal year.

Shares of First Financial Bancorp (NASDAQ:FFBC) opened at 21.10 on Tuesday. First Financial Bancorp has a one year low of $13.76 and a one year high of $22.53. The firm has a 50 day moving average price of $21.71 and a 200 day moving average price of $20.30. The company has a market capitalization of $1.31 billion, a P/E ratio of 16.23 and a beta of 1.19.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd were paid a $0.16 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.03%. First Financial Bancorp’s payout ratio is 49.23%.

In other news, COO Anthony M. Stollings sold 13,081 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $21.11, for a total value of $276,139.91. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Knapke Murph sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $21.20, for a total value of $318,000.00. Following the completion of the transaction, the director now directly owns 50,929 shares in the company, valued at $1,079,694.80. The disclosure for this sale can be found here. Company insiders own 2.19% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. increased its position in shares of First Financial Bancorp by 30.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,616,200 shares of the company’s stock worth $50,886,000 after buying an additional 617,425 shares in the last quarter. BlackRock Fund Advisors increased its position in First Financial Bancorp by 4.9% in the second quarter. BlackRock Fund Advisors now owns 4,046,332 shares of the company’s stock worth $78,701,000 after buying an additional 190,106 shares during the period. BlackRock Investment Management LLC increased its position in First Financial Bancorp by 6.0% in the second quarter. BlackRock Investment Management LLC now owns 278,292 shares of the company’s stock worth $5,413,000 after buying an additional 15,826 shares during the period. BlackRock Inc. increased its position in First Financial Bancorp by 342.3% in the second quarter. BlackRock Inc. now owns 18,672 shares of the company’s stock worth $363,000 after buying an additional 14,450 shares during the period. Finally, Deere & Co. purchased a new position in First Financial Bancorp during the second quarter worth $257,000. 72.66% of the stock is currently owned by institutional investors.

Several equities analysts have recently issued reports on FFBC shares. Keefe, Bruyette & Woods lifted their price target on First Financial Bancorp from $19.00 to $21.00 and gave the company a “market perform” rating in a research note on Monday, July 25th. Raymond James Financial Inc. lowered First Financial Bancorp from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 6th. Zacks Investment Research upgraded First Financial Bancorp from a “sell” rating to a “hold” rating and set a $24.00 price objective on the stock in a research report on Monday, July 25th. Jefferies Group restated a “hold” rating and set a $21.00 price objective on shares of First Financial Bancorp in a research report on Thursday, July 7th. Finally, Barclays PLC boosted their price objective on First Financial Bancorp from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Monday, July 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.81.

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