Group 1: Stock Recommendations - Kingstone Companies, Inc. (KINS) has a Zacks Rank 1 and a price-to-earnings ratio (P/E) of 8.53, significantly lower than the S&P 500's 20.49, with a Value Score of A and a 16.1% increase in current year earnings estimate over the last 60 days [1] - First Financial Bancorp. (FFBC) also carries a Zacks Rank 1, with a P/E of 9.39 compared to the industry average of 10.70, a Value Score of B, and a 5.2% increase in current year earnings estimate over the last 60 days [2] - Futu Holdings Limited (FUTU) holds a Zacks Rank 1, with a P/E of 15.57, lower than the S&P 500's 20.49, a Value Score of B, and a 10.2% increase in current year earnings estimate over the last 60 days [3]

Group 1: Frontier Group Holdings, Inc. (ULCC) - Frontier Group Holdings is an airline company with a Zacks Rank 1 [1] - The Zacks Consensus Estimate for its current year earnings has increased by 63.2% over the last 60 days [1] - The company has a price-to-earnings ratio (P/E) of 7.14, compared to 12.60 for the industry, and possesses a Value Score of A [1] Group 2: First Financial Bancorp. (FFBC) - First Financial Bancorp is a bank holding company for First Financial Bank with a Zacks Rank 1 [2] - The Zacks Consensus Estimate for its current year earnings has increased by 5.6% over the last 60 days [2] - The company has a price-to-earnings ratio (P/E) of 9.65, compared to 10.90 for the industry, and possesses a Value Score of B [2] Group 3: Molson Coors Beverage Company (TAP) - Molson Coors Beverage Company is a beverage company with a Zacks Rank 1 [3] - The Zacks Consensus Estimate for its next year earnings has increased by 6.4% over the last 60 days [3] - The company has a price-to-earnings ratio (P/E) of 9.75, compared to 14.50 for the industry, and possesses a Value Score of A [3]

Company Overview - First Financial Bancorp (FFBC) is based in Cincinnati and operates in the Finance sector, with a year-to-date share price change of 2.34% [3] - The company currently pays a dividend of $0.24 per share, resulting in a dividend yield of 3.49%, which is higher than the Banks - Midwest industry's yield of 2.96% and the S&P 500's yield of 1.52% [3] Dividend Performance - The annualized dividend of $0.96 represents a 2.1% increase from the previous year [4] - Over the past 5 years, FFBC has increased its dividend once on a year-over-year basis, with an average annual increase of 0.46% [4] - The current payout ratio is 37%, indicating that the company paid out 37% of its trailing 12-month earnings per share as dividends [4] Earnings Growth Expectations - For the fiscal year 2025, the Zacks Consensus Estimate projects earnings of $2.64 per share, reflecting an expected increase of 0.76% from the previous year [5] Investment Appeal - FFBC is considered a compelling investment opportunity due to its attractive dividend and strong Zacks Rank of 1 (Strong Buy) [7]

Acquisition and Financial Position - First Financial Bancorp acquired Agile Premium Finance for $96.9 million in an all-cash transaction on February 29, 2024[36]. - The acquisition resulted in $97.8 million of assets and $2.7 million of liabilities, leading to $1.8 million of goodwill[37]. - As of December 31, 2024, the Bank reported $5.9 billion in uninsured deposits[83]. - The company's indebtedness decreased from $1.3 billion in 2023 to $1.1 billion in 2024, largely due to an increase in deposits[147]. - The company had $3.7 billion in assets under management as of December 31, 2024, which is subject to market risks and volatility[169]. Employee and Community Engagement - As of December 31, 2024, First Financial had approximately 2,090 employees primarily located in Ohio, Indiana, Kentucky, and Illinois[29]. - In 2024, 59% of eligible employees qualified for benefits under the Wellbeing Program, which supports employee health and wellbeing[30]. - The company emphasizes local decision-making to meet the needs of its targeted customers, which include individuals and small to medium-sized businesses[41]. Banking Services and Competition - The company offers a full range of banking services, including commercial lending, real estate lending, and consumer financing[16]. - First Financial competes with local and regional financial institutions, credit unions, and online lenders, as well as FinTech companies and digital assets[42]. - The company focuses on a community banking model, serving metropolitan and non-metropolitan markets in Indiana, Ohio, Kentucky, and Illinois[38]. Regulatory Compliance and Capital Requirements - First Financial is subject to the Bank Holding Company Act and requires Federal Reserve Board approval for acquisitions exceeding 5% of voting shares of other banks[44]. - The Federal Reserve Board mandates that all depository institutions maintain reserves, which were reduced to 0% effective March 26, 2020, to support lending during the COVID-19 pandemic[52]. - As of December 31, 2024, the Bank met the capital ratio requirements to be deemed "well-capitalized," with a common equity tier 1 capital ratio of at least 6.5%[69]. - The Basel III capital rules require a minimum total capital ratio of 8.0% and a minimum leverage ratio of 4.0%[61]. - The ability of First Financial to pay dividends is dependent on the Bank's compliance with capital requirements and Federal Reserve Board approval[73]. Cybersecurity and Operational Risks - The company expects high risks and exposures related to cybersecurity attacks to remain due to the increasing sophistication of threats and the expanding use of technology-based services[103]. - The company has implemented a layered cybersecurity approach, but acknowledges the constant threat from sophisticated cyber-attacks[103]. - The Company maintains a risk management strategy that includes monitoring and mitigating cybersecurity risks through various tools and employee training[208]. - Cybersecurity risks could lead to significant reputational damage and financial losses due to breaches of customer data security[134]. - The company faces operational risks from reliance on third-party vendors, which could disrupt business operations[133]. Economic and Market Conditions - The company anticipates that local economic conditions in Indiana, Ohio, Kentucky, and Illinois will significantly affect its financial condition and results of operations[115]. - The company reported that a decline in the U.S. economy could lead to increased loan defaults and foreclosures, impacting its financial results[110]. - Changes in market interest rates could significantly affect its net interest income and overall financial condition[112]. - Weakness in the secondary market for residential mortgage loans could lead to higher losses or charge-offs in the mortgage loan portfolio[121]. Credit Losses and Provisions - In 2023, the company recorded a provision expense of $43.1 million due to loan portfolio growth and increased net charge-offs[129]. - The allowance for credit losses may not be sufficient to cover actual credit losses, potentially impacting operating results[127]. - The company may incur significant provision expense for credit losses in future periods depending on macroeconomic shifts[130]. - Regulatory reviews may require the company to increase its provision for credit losses, impacting financial condition[128]. Taxation and External Risks - The Company is subject to extensive federal, state, and local taxes, and changes in tax laws could materially affect its results of operations[203]. - Adverse external events, such as natural disasters or acts of war, could impact the Company's business operations and continuity plans[204]. Changes in Regulations and Compliance - The company is subject to regulatory compliance changes due to the new Presidential administration's reform agenda, which may incur additional costs[114]. - The company faces risks related to compliance with data protection and privacy laws, which could result in regulatory investigations and increased costs[190]. - Regulatory changes following recent bank failures may lead to increased capital requirements and compliance costs for the company[193]. Financial Performance and Market Impact - The Federal Reserve decreased the target fed funds rate by 100 basis points in 2024, leading to a decrease in the Bank's net interest margin from 4.40% at December 31, 2023 to 4.05% at December 31, 2024[201]. - The company reported that losses on investment securities were higher in 2024 due to market volatility, but does not expect these losses to continue in 2025[188]. - Significant declines in market capitalization could indicate potential impairment of goodwill, particularly if sustained over time[173]. - The company may reduce or eliminate dividends on common shares in the future, which could affect the market price of its common shares[172].

Group 1 - Intercorp Financial Services Inc. (IFS) has seen a 2.2% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days and offers a dividend yield of 3.2%, significantly higher than the industry average of 0.0% [1] - Fox Corporation (FOXA) has experienced a 3.8% increase in the Zacks Consensus Estimate for its current year earnings in the last 60 days, with a dividend yield of 1.1%, also above the industry average of 0.0% [2] - First Financial Bancorp. (FFBC) has had a 1.2% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] Group 2 - Another company with a Zacks Rank 1 has a dividend yield of 3.5%, which is higher than the industry average of 2.8% [3]

Expansion into Michigan - First Financial Bank is expanding into Michigan with the introduction of Chris Turner as commercial market president and the opening of a commercial banking office in Grand Rapids [1] - Chris Turner, a Grand Rapids native with over 32 years of experience in the financial services industry, will lead the commercial banking team and manage client relationships in the area [1][4] - The expansion into Grand Rapids follows recent expansions into Chicago, Cleveland, and Evansville, Indiana [5] Services and Solutions - First Financial will offer Michigan businesses a broad suite of sophisticated banking solutions, including commercial credit, asset-based lending, treasury management, trade finance, M&A advisory, and employee financial wellness programs [2] - Specialty banking lines of business include Bannockburn Capital Markets, Summit Funding Group, Oak Street Funding, Agile Premium Finance, and Yellow Cardinal Advisory Group [2] - The company provides end-to-end solutions for business owners, from start-up to mergers and acquisitions, business succession, and managing investment and legacy financial needs [3] Leadership and Strategy - Archie Brown, president and CEO, emphasized the importance of local market knowledge and connections in building new relationships and growing the company's presence in Grand Rapids [2] - Chris Turner highlighted the company's focus on offering a full spectrum of solutions and building strong relationships as trusted advisors for clients [4] Company Overview - First Financial Bancorp is a Cincinnati-based bank holding company with $18.6 billion in assets, $11.8 billion in loans, $14.3 billion in deposits, and $2.4 billion in shareholders' equity as of December 31, 2024 [6] - The company operates 127 full-service banking centers in Ohio, Indiana, Kentucky, and Illinois, and its Commercial Finance business lends nationwide [6] - Wealth Management services include wealth planning, portfolio management, trust and estate, brokerage, and retirement plan services, with approximately $3.7 billion in assets under management as of December 31, 2024 [6]

Financial Data and Key Metrics Changes - The company announced its financial results for the fourth quarter and full year, with specific metrics to be discussed during the call [5]. Business Line Data and Key Metrics Changes - Detailed information regarding the performance of various business lines will be provided in the subsequent sections of the call [5]. Market Data and Key Metrics Changes - The company will address market performance and key metrics in relation to its operational environment during the call [5]. Company Strategy and Development Direction - The management will outline the company's strategic direction and competitive positioning within the industry [5]. Management Comments on Operating Environment and Future Outlook - Management will provide insights on the current operating environment and future prospects during the call [5]. Other Important Information - The company has made available a press release and accompanying slide presentation on its website for further details [3]. Q&A Session Summary Question: Inquiry about financial results - The management will respond to questions regarding the financial results and operational performance during the Q&A session [5].

Core Insights - First Financial Bancorp (FFBC) reported revenue of $225.53 million for the quarter ended December 2024, reflecting an 11.4% increase year-over-year and a surprise of +5.04% over the Zacks Consensus Estimate of $214.7 million [1] - Earnings per share (EPS) for the quarter was $0.71, compared to $0.62 in the same quarter last year, resulting in an EPS surprise of +9.23% against the consensus estimate of $0.65 [1] Financial Performance Metrics - Net Interest Margin stood at 3.9%, matching the average estimate based on two analysts [4] - Efficiency Ratio was reported at 66%, higher than the two-analyst average estimate of 58.7% [4] - Total Noninterest Income reached $69.85 million, exceeding the two-analyst average estimate of $63.55 million [4] Stock Performance - Shares of First Financial have returned +2% over the past month, compared to a +2.7% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance against the broader market in the near term [3]

Financial Performance - For Q4 2024, First Financial reported net income of $64.9 million, or $0.68 per diluted share, compared to $52.5 million, or $0.55 per diluted share in Q3 2024[3] - The return on average assets for Q4 2024 was 1.41%, and the return on average tangible common equity was 19.08%, up from 1.17% and 16.29% in Q3 2024, respectively[4] - For the full year 2024, adjusted earnings were $249 million, or $2.61 per share, with a record revenue of $853.8 million, a 2% increase over 2023[7] - Net income for the three months ended December 31, 2024, was $64,885 thousand, an increase from $52,451 thousand in the previous quarter, representing a 23.3% growth[22] - Diluted earnings per share increased to $0.68 for the three months ended December 31, 2024, compared to $0.55 in the previous quarter, reflecting a 23.6% rise[22] - Net income for the three months ended December 31, 2023, was $64,885 thousand, a 14.4% increase from $56,732 thousand in the same period of 2022[24] - Net income for the fourth quarter increased to $64,885,000, representing a 23.7% increase year-over-year[26] Loan and Deposit Growth - Total loans increased by $208.7 million, representing a 7.2% annualized growth rate, while average deposits surged by $543.1 million, or 15.7% on an annualized basis[5] - Total loans for the year increased by 7.6% to $11.8 billion, and total deposits rose by 7.2% to $14.3 billion[7] - Total deposits reached $14,339,653 thousand, an increase from $13,796,504 thousand in the previous quarter, indicating a 3.9% growth[22] - Total loans reached $11,761,778 thousand, reflecting a 1.8% increase compared to the prior quarter[30] - Total deposits grew to $14,329,138 thousand, marking a 2.7% increase from the previous quarter[30] - Total deposits rose to $14.34 billion, compared to $13.80 billion in the prior quarter, indicating a growth of approximately 4.0%[32] Asset Quality and Credit Losses - The total allowance for credit losses was $173.7 million, with a ratio to total loans of 1.33%, which declined by 4 basis points from Q3 2024[8] - Asset quality remained stable, with nonperforming assets flat at 0.36% and net charge-offs at 0.30% for the full year[7] - The allowance to ending loans ratio was 1.33% for the three months ended December 31, 2024, slightly down from 1.37% in the previous quarter[22] - The allowance for credit losses increased to $156,791 million as of December 31, 2024, compared to $141,433 million at the beginning of the year, reflecting a provision for credit losses of $49,211 million for the full year 2024[40] - Total net charge-offs for the full year 2024 were $33,853 million, a slight decrease from $34,618 million in 2023, with a net charge-off rate of 0.40% for the fourth quarter[40] - The total nonperforming assets amounted to $66,037 million, an increase from $65,859 million at the end of 2023[40] Noninterest Income and Expenses - Noninterest income reached $69.9 million, with a record wealth management income and strong results from foreign exchange and leasing businesses[6] - Noninterest income increased by 48.6% to $46,993 thousand for the three months ended December 31, 2023, compared to $31,610 thousand in the same period of 2022[24] - Total noninterest expenses rose by 24.1% to $147,907 thousand, up from $119,137 thousand in the prior year[24] - Total noninterest expenses rose to $147,907,000, marking a 17.6% increase compared to the previous quarter[26] Capital and Equity - The tangible book value per share increased from $12.38 to $14.15, marking a 14.3% increase[7] - The common equity tier 1 ratio was reported at 12.16% for the three months ended December 31, 2024, compared to 12.04% in the previous quarter[22] - Total shareholders' equity increased to $2,438,041,000 from $2,267,974,000 year-over-year, representing a growth of 7.5%[42] - Common equity tier 1 capital rose to $1,709,422,000, up from $1,568,815,000, reflecting an increase of 8.9%[42] - The leverage ratio improved to 9.98%, up from 9.70% in the previous year[42] Market Expansion and Strategy - First Financial expanded into Grand Rapids, MI, at the beginning of 2025, continuing its growth strategy in new markets[7] - The company plans to focus on market expansion and new product development in the upcoming quarters[32]

Core Viewpoint - Wall Street analysts predict First Financial Bancorp (FFBC) will report quarterly earnings of $0.65 per share, reflecting a year-over-year increase of 4.8% and revenues of $214.7 million, which is a 6.1% increase compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a collective reevaluation by analysts [2]. - Revisions to earnings estimates are crucial for predicting investor actions, as empirical research shows a strong correlation between earnings estimate trends and short-term stock price performance [3]. Key Financial Metrics - Analysts expect the 'Net Interest Margin' to be 3.9%, down from 4.2% in the same quarter last year [5]. - The 'Efficiency Ratio' is projected to reach 58.7%, an improvement from the year-ago figure of 59.3% [5]. - The average prediction for 'Total Noninterest Income' is $63.55 million, significantly higher than the year-ago figure of $46.99 million [5]. Stock Performance - Over the past month, shares of First Financial have returned +2.3%, while the Zacks S&P 500 composite has seen a -0.4% change [6]. - FFBC currently holds a Zacks Rank 2 (Buy), suggesting potential outperformance in the near future [6].