First Financial Bancorp reports results for the quarter ended in March - Earnings Summary

First Financial Bancorp.

26/04/2024 02:30

* First Financial Bancorp  FFBC.OQ  reported quarterly
adjusted
earnings of 53 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 74 cents.  The mean expectation of six analysts for the
quarter was for earnings of 59 cents per share. Wall Street
expected results to range from 56 cents to 62 cents per share.
    * Revenue fell 9.1% to $195.25 million from a year ago;
analysts
expected $201.10 million. 
    * First Financial Bancorp's reported EPS for the quarter was
53
cents​.
    * The company reported quarterly net income of $50.69
million.
    * First Financial Bancorp shares had risen by 0.6% this
quarter and lost 5.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.7%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for First Financial
Bancorp is $25.50 
This summary was machine generated from LSEG data April 26 at
01:30 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.59           0.53           Missed
 Dec. 31 2023      0.61           0.60           Missed
 Sep. 30 2023      0.67           0.69           Beat
 Jun. 30 2023      0.69           0.69           Met