First Financial Bancorp. (NASDAQ:FFBC) Shares Will Pay Quarterly Dividend of $0.26

First Financial Bancorp. (NASDAQ:FFBC) declared a quarterly dividend on Tuesday, October 27th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.26 per share by the bank on Tuesday, December 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, December 1st.

First Financial Bancorp. has a payout ratio of 37.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Financial Bancorp. to earn $3.55 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 29.3%.

First Financial Bancorp. Trading Down 0.4%

FFBC stock opened at $32.54 on Wednesday. First Financial Bancorp. has a 1 year low of $23.06 and a 1 year high of $36.24. The stock’s fifty day moving average is $32.09 and its two-hundred day moving average is $30.84.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings data on Tuesday, October 27th. The bank reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. The firm had revenue of $273.91 million during the quarter, compared to the consensus estimate of $270.97 million. During the same period in the prior year, the firm posted $0.76 EPS. Equities analysts anticipate that First Financial Bancorp. will post 3.18 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Truist Financial raised shares of First Financial Bancorp. from a “hold” rating to a “buy” rating and increased their price target for the stock from $35.00 to $37.00 in a research report on Thursday, September 24th. Raymond James Financial upped their target price on First Financial Bancorp. from $34.00 to $36.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Wall Street Zen lowered shares of First Financial Bancorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Financial Bancorp. in a report on Friday, September 4th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, First Financial Bancorp. currently has an average rating of “Moderate Buy” and an average price target of $34.00.

About First Financial Bancorp.

First Financial Bancorp. is a bank holding company headquartered in Cincinnati, Ohio. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to businesses, individuals and organizations.

First Financial Bank offers commercial and consumer lending, deposit accounts, treasury management, cash management and other traditional banking products. Its services also include wealth management, investment services and mortgage-related solutions, helping customers manage borrowing, deposits, payments and longer-term financial needs.

The company serves communities primarily in Ohio, Indiana and Kentucky through a network of banking offices and digital banking channels.