First Financial Bancorp (NASDAQ:FFBC) declared 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 6.65%. The ex-dividend date is Monday, August 31st.
First Financial Bancorp has increased its dividend by an average of 40.6% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. First Financial Bancorp has a dividend payout ratio of 73.6% indicating that its dividend is sufficiently covered by earnings. Equities 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%.
First Financial Bancorp stock traded down $0.42 during mid-day trading on Thursday, reaching $13.84. 5,180 shares of the company’s stock were exchanged, compared to its average volume of 427,527. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.58. First Financial Bancorp has a twelve month low of $10.83 and a twelve month high of $26.19. The company has a market cap of $1.35 billion, a P/E ratio of 8.54 and a beta of 1.22. The company has a fifty day moving average of $13.54 and a 200-day moving average of $16.84.
Several analysts have recently weighed in on FFBC shares. BidaskClub raised shares of First Financial Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Zacks Investment Research lowered First Financial Bancorp from a “buy” rating to a “hold” rating in a report on Friday, July 3rd. Finally, ValuEngine downgraded First Financial Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. First Financial Bancorp currently has a consensus rating of “Hold” and an average target price of $20.00.
About First Financial Bancorp
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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