First Financial Bancorp. (NASDAQ:FFBC) Announces $0.23 Quarterly Dividend

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Monday, June 3rd will be paid a dividend of 0.23 per share by the bank on Monday, June 17th. This represents a $0.92 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Monday, June 3rd.

First Financial Bancorp. has a payout ratio of 40.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Financial Bancorp. to earn $2.26 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 40.7%.

First Financial Bancorp. Price Performance

Shares of NASDAQ:FFBC traded up $0.21 during midday trading on Friday, hitting $22.57. The stock had a trading volume of 465,888 shares, compared to its average volume of 282,185. The company's 50-day moving average price is $21.76 and its 200-day moving average price is $21.66. The company has a market capitalization of $2.15 billion, a P/E ratio of 9.10 and a beta of 1.05. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.50. First Financial Bancorp. has a fifty-two week low of $17.23 and a fifty-two week high of $24.99.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last issued its earnings results on Friday, April 26th. The bank reported $0.59 EPS for the quarter, meeting the consensus estimate of $0.59. The company had revenue of $287.20 million during the quarter, compared to analysts' expectations of $201.79 million. First Financial Bancorp. had a net margin of 20.74% and a return on equity of 11.35%. During the same period in the previous year, the company earned $0.76 EPS. As a group, equities research analysts predict that First Financial Bancorp. will post 2.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FFBC shares. Piper Sandler started coverage on shares of First Financial Bancorp. in a research report on Friday, February 23rd. They set an "overweight" rating and a $26.00 price objective for the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $24.00 price objective on shares of First Financial Bancorp. in a research report on Tuesday, April 9th.

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.