First Financial Bancorp (NASDAQ:FFBC) – Analysts at Piper Jaffray Companies reduced their FY2019 earnings estimates for First Financial Bancorp in a research note issued to investors on Sunday, April 28th, according to Zacks Investment Research. Piper Jaffray Companies analyst N. Race now forecasts that the bank will post earnings of $2.18 per share for the year, down from their previous estimate of $2.26. Piper Jaffray Companies also issued estimates for First Financial Bancorp’s Q4 2019 earnings at $0.56 EPS and Q1 2020 earnings at $0.55 EPS.
FFBC has been the topic of several other research reports. Zacks Investment Research downgraded shares of First Financial Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. ValuEngine upgraded shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. BidaskClub downgraded shares of First Financial Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Keefe, Bruyette & Woods downgraded shares of First Financial Bancorp from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $31.00 to $30.00 in a research note on Sunday, February 24th. Finally, Stephens downgraded shares of First Financial Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. First Financial Bancorp currently has a consensus rating of “Hold” and an average target price of $28.67.
First Financial Bancorp (NASDAQ:FFBC) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $0.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $148.34 million for the quarter, compared to the consensus estimate of $150.53 million. First Financial Bancorp had a net margin of 26.28% and a return on equity of 10.60%. During the same quarter last year, the company posted $0.49 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. boosted its holdings in shares of First Financial Bancorp by 598.7% in the fourth quarter. Bessemer Group Inc. now owns 1,076 shares of the bank’s stock worth $26,000 after buying an additional 922 shares during the period. Premia Global Advisors LLC purchased a new stake in shares of First Financial Bancorp during the first quarter valued at $34,000. Eukles Asset Management purchased a new stake in shares of First Financial Bancorp during the fourth quarter valued at $49,000. NumerixS Investment Technologies Inc purchased a new stake in shares of First Financial Bancorp during the first quarter valued at $52,000. Finally, Versant Capital Management Inc grew its holdings in shares of First Financial Bancorp by 118.3% during the first quarter. Versant Capital Management Inc now owns 2,240 shares of the bank’s stock valued at $53,000 after buying an additional 1,214 shares during the last quarter. 75.65% of the stock is owned by institutional investors.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.65%. First Financial Bancorp’s payout ratio is presently 38.60%.
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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