First Financial Bancorp (NASDAQ:FFBC) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Tuesday, September 1st will be paid a dividend of 0.23 per share by the bank on Tuesday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date is Monday, August 31st.
First Financial Bancorp has raised its dividend by an average of 40.6% annually over the last three years and has increased its dividend every year for the last 3 years. First Financial Bancorp has a payout ratio of 73.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Financial Bancorp to earn $1.18 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 78.0%.
NASDAQ FFBC traded down $0.41 during trading hours on Thursday, reaching $13.85. 3,312 shares of the company traded hands, compared to its average volume of 427,527. First Financial Bancorp has a 12 month low of $10.83 and a 12 month high of $26.19. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.35 billion, a PE ratio of 8.54 and a beta of 1.22. The company has a 50 day moving average of $13.54 and a two-hundred day moving average of $16.84.
First Financial Bancorp (NASDAQ:FFBC) last issued its earnings results on Thursday, July 23rd. The bank reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.15. The business had revenue of $154.30 million for the quarter, compared to analyst estimates of $147.50 million. First Financial Bancorp had a net margin of 23.05% and a return on equity of 7.97%. On average, equities research analysts anticipate that First Financial Bancorp will post 1.44 earnings per share for the current year.
Several research analysts have recently commented on the company. ValuEngine lowered First Financial Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. BidaskClub raised shares of First Financial Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Zacks Investment Research cut shares of First Financial Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 3rd. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $20.00.
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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