First Financial Bancorp. (FFBC) To Go Ex-Dividend on September 1st

First Financial Bancorp. (NASDAQ:FFBC) declared a quarterly dividend on Tuesday, July 21st. Investors of record on Tuesday, September 1st will be paid a dividend of 0.26 per share by the bank on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a 4.0% increase from First Financial Bancorp.’s previous quarterly dividend of $0.25.

First Financial Bancorp. has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 1 years. First Financial Bancorp. has a dividend payout ratio of 36.2% meaning its dividend is sufficiently covered by earnings. Analysts expect First Financial Bancorp. to earn $3.40 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 29.4%.

First Financial Bancorp. Stock Performance

NASDAQ FFBC opened at $33.96 on Thursday. The company has a fifty day simple moving average of $32.41 and a 200 day simple moving average of $29.83. First Financial Bancorp. has a 12-month low of $23.06 and a 12-month high of $36.24. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.56 billion, a P/E ratio of 12.00 and a beta of 0.92.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings data on Tuesday, July 21st. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. First Financial Bancorp. had a net margin of 20.77% and a return on equity of 11.34%. The firm had revenue of $264.17 million for the quarter, compared to the consensus estimate of $270.29 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. Sell-side analysts predict that First Financial Bancorp. will post 3.28 earnings per share for the current fiscal year.

First Financial Bancorp. News Roundup

Here are the key news stories impacting First Financial Bancorp. this week:

• Positive Sentiment: First Financial Bancorp reported record second-quarter results on an adjusted basis, with $0.80 in adjusted EPS, strong loan growth, a 3.98% net interest margin, and a quarterly dividend increase to $0.26 per share. The company also announced an agreement to acquire Finward Bancorp, which could expand its franchise and earnings base.
• Neutral Sentiment: The bank said revenue was $264.17 million for the quarter, which was below Wall Street estimates, even though revenue was up 16.7% year over year. This mixed result may be keeping enthusiasm in check despite the earnings beat.
• Neutral Sentiment: Reported EPS was $0.80 versus consensus of about $0.78-$0.81, depending on the source, so the earnings surprise was modest rather than a major upside shock.
• Negative Sentiment: Investor reaction may be muted by the fact that sales fell short of analyst expectations, which can outweigh the positive earnings and capital-return news in the near term.

First Financial Bancorp. Company Profile

First Financial Bancorp (NASDAQ: FFBC) is a bank holding company headquartered in Cincinnati, Ohio, and the parent of First Financial Bank. The company provides a comprehensive suite of commercial and consumer banking services through a network of more than 100 full-service banking centers and mortgage offices across Ohio, Indiana and Kentucky. Its core mission centers on delivering personalized relationship banking to businesses, individuals and public sector clients.

First Financial Bank’s product portfolio includes deposit solutions such as checking, savings and money market accounts, alongside a range of lending offerings that cover commercial and industrial loans, real estate and construction financing, home mortgages and home equity lines of credit.