First Financial Bancorp. (NASDAQ:FFBC) Issues Quarterly Earnings Results, Hits Expectations

First Financial Bancorp. (NASDAQ:FFBC) posted its earnings results on Thursday. The bank reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59, Yahoo Finance reports. First Financial Bancorp. had a return on equity of 12.16% and a net margin of 22.94%. During the same period last year, the company posted $0.76 earnings per share.

First Financial Bancorp. Stock Performance

NASDAQ FFBC traded down $0.19 during trading on Thursday, hitting $22.36. The company’s stock had a trading volume of 367,716 shares, compared to its average volume of 326,866. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.50. The firm has a 50 day moving average price of $21.75 and a 200 day moving average price of $21.62. The firm has a market cap of $2.13 billion, a P/E ratio of 8.31 and a beta of 1.05. First Financial Bancorp. has a 52 week low of $17.23 and a 52 week high of $24.99.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 target price on shares of First Financial Bancorp. in a report on Tuesday, April 9th. Piper Sandler assumed coverage on First Financial Bancorp. in a report on Friday, February 23rd. They issued an “overweight” rating and a $26.00 target price for the company.

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 offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.