Brokerages expect that First Financial Bancorp (NASDAQ:FFBC) will post $151.05 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for First Financial Bancorp’s earnings. The highest sales estimate is $152.00 million and the lowest is $150.20 million. First Financial Bancorp posted sales of $83.95 million during the same quarter last year, which suggests a positive year over year growth rate of 79.9%. The company is expected to issue its next earnings results after the market closes on Thursday, October 18th.
According to Zacks, analysts expect that First Financial Bancorp will report full-year sales of $548.63 million for the current fiscal year, with estimates ranging from $545.80 million to $550.40 million. For the next year, analysts anticipate that the firm will report sales of $619.38 million, with estimates ranging from $607.30 million to $632.80 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover First Financial Bancorp.
First Financial Bancorp (NASDAQ:FFBC) last issued its quarterly earnings results on Thursday, July 19th. The bank reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.05. First Financial Bancorp had a net margin of 25.41% and a return on equity of 12.13%. The business had revenue of $152.20 million during the quarter, compared to the consensus estimate of $147.77 million. During the same quarter in the prior year, the firm earned $0.37 EPS. The firm’s quarterly revenue was up 77.0% on a year-over-year basis.
In other news, COO Anthony M. Stollings sold 15,847 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $31.59, for a total transaction of $500,606.73. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Vince Berta purchased 1,500 shares of the company’s stock in a transaction dated Tuesday, July 31st. The shares were acquired at an average price of $29.95 per share, for a total transaction of $44,925.00. Following the purchase, the director now owns 6,527 shares in the company, valued at $195,483.65. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,143 shares of company stock valued at $64,236. Insiders own 3.36% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in FFBC. First Mercantile Trust Co. acquired a new position in shares of First Financial Bancorp during the 2nd quarter worth $105,000. SG Americas Securities LLC acquired a new position in shares of First Financial Bancorp during the 1st quarter worth $120,000. Envestnet Asset Management Inc. grew its stake in First Financial Bancorp by 597.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,567 shares of the bank’s stock valued at $140,000 after buying an additional 3,912 shares during the last quarter. Neuburgh Advisers LLC acquired a new position in First Financial Bancorp in the 2nd quarter valued at $146,000. Finally, Riverhead Capital Management LLC acquired a new position in First Financial Bancorp in the 2nd quarter valued at $159,000. Institutional investors own 73.84% of the company’s stock.
FFBC stock traded down $0.74 during midday trading on Friday, reaching $27.42. The company had a trading volume of 280,900 shares, compared to its average volume of 419,474. First Financial Bancorp has a 1 year low of $25.00 and a 1 year high of $33.70. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.32 and a beta of 1.05.
About First Financial Bancorp
First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and other banking, and banking-related services to individuals and businesses in Ohio, Indiana, and Kentucky. 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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