First Financial Bancorp (NASDAQ:FFBC) released its quarterly earnings data on Thursday. The bank reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. First Financial Bancorp had a net margin of 23.57% and a return on equity of 10.42%. The firm had revenue of $86.30 million for the quarter, compared to analyst estimates of $86.84 million. During the same period last year, the firm earned $0.32 earnings per share.
Shares of First Financial Bancorp (NASDAQ:FFBC) opened at 25.50 on Friday. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 17.00 and a beta of 1.18. First Financial Bancorp has a 12 month low of $18.00 and a 12 month high of $29.80. The firm has a 50-day moving average of $27.17 and a 200 day moving average of $27.18.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.67%. The ex-dividend date is Wednesday, May 31st. First Financial Bancorp’s dividend payout ratio is 44.76%.
In related news, insider Paul C. Silva sold 1,713 shares of First Financial Bancorp stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $27.66, for a total transaction of $47,381.58. Following the completion of the sale, the insider now owns 2,051 shares of the company’s stock, valued at $56,730.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.19% of the company’s stock.
A hedge fund recently raised its stake in First Financial Bancorp stock. Teachers Advisors LLC boosted its position in First Financial Bancorp (NASDAQ:FFBC) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,563 shares of the bank’s stock after buying an additional 2,667 shares during the period. Teachers Advisors LLC owned about 0.17% of First Financial Bancorp worth $2,870,000 at the end of the most recent reporting period. Institutional investors own 73.20% of the company’s stock.
A number of research firms have weighed in on FFBC. Zacks Investment Research raised shares of First Financial Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday. Keefe, Bruyette & Woods reissued a “hold” rating and set a $27.00 price target on shares of First Financial Bancorp in a research report on Monday, April 10th. Finally, DA Davidson began coverage on shares of First Financial Bancorp in a research report on Thursday, March 23rd. They set a “buy” rating and a $30.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. First Financial Bancorp presently has a consensus rating of “Hold” and a consensus target price of $26.17.
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About First Financial Bancorp
First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.
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