First Financial Bancorp (FFBC) To Go Ex-Dividend on August 31st

First Financial Bancorp (NASDAQ:FFBC) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Tuesday, September 1st will be given 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 6.57%. The ex-dividend date of this dividend 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 every year for the last 3 years. First Financial Bancorp has a payout ratio of 73.6% indicating that 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 $0.26 during trading hours on Thursday, reaching $14.00. The company’s stock had a trading volume of 5,726 shares, compared to its average volume of 427,527. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 8.54 and a beta of 1.22. First Financial Bancorp has a one year low of $10.83 and a one year high of $26.19. The business’s 50-day moving average is $13.54 and its 200-day moving average is $16.84.

First Financial Bancorp (NASDAQ:FFBC) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.15. First Financial Bancorp had a return on equity of 7.97% and a net margin of 23.05%. The company had revenue of $154.30 million during the quarter, compared to analysts’ expectations of $147.50 million. On average, sell-side analysts predict that First Financial Bancorp will post 1.44 EPS for the current fiscal year.

FFBC has been the topic of several analyst reports. BidaskClub upgraded First Financial Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Zacks Investment Research lowered shares of First Financial Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, July 3rd. Finally, ValuEngine lowered shares of First Financial Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price 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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Dividend History for First Financial Bancorp (NASDAQ:FFBC)

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