Return on average assets for the second quarter of 2024 was 1.38% while return on average tangible common equity was 20.57% . These compare to return on average assets of 1.18% and return on average tangible common equity of 17.35% in the first quarter of 2024. (1) (1) Second quarter 2024 highlights include: ◦ Broad-based growth driven by C&I, Agile and Summit Exhibit 99.1 First Financial Bancorp Announces Second Quarter 2024 Financial Results and Quarterly Dividend Increase Cincinnati, Ohio - July 25, 2024 ...

Core Viewpoint - The company reported a decline in net charge-offs and an increase in the allowance for credit losses (ACL), while also announcing a dividend increase, reflecting positive operating performance in the first half of 2024 [1][2]. Financial Performance - Net charge-offs decreased by 23 basis points to 15 basis points, marking the third consecutive quarter of decline [1]. - The ACL increased to 1.36% of total loans, with expectations for provisions to decline in future periods [1]. - Total interest income for the three months ended June 30, 2024, was $252.719 million, a 12.9% increase from $223.895 million in the same period of 2023 [3]. - Net interest income for the same period was $153.311 million, a decrease of 3.7% compared to $159.232 million in the previous year [3]. - Provision for credit losses on loans and leases increased by 27.0% to $16.157 million compared to $12.719 million in the prior year [3]. Dividend Announcement - The Board of Directors approved a $0.01 increase in the common dividend to $0.24, resulting in a 4.3% increase and a payout ratio within the target range of 35% - 40% of net income [1]. Asset Quality - Nonperforming loans as a percentage of total assets remained relatively flat compared to the prior quarter, indicating stable asset quality [1]. - The company had $18.2 billion in assets, $11.5 billion in loans, and $13.7 billion in deposits as of June 30, 2024 [2]. Business Operations - The company operates through six lines of business, including Commercial, Retail Banking, and Wealth Management, with approximately $3.6 billion in assets under management as of June 30, 2024 [2].

Group 1 - The article highlights the innovative Style Scores system developed by Zacks, which identifies stocks with specific traits, particularly appealing to value investors [1] - First Financial Bancorp (FFBC) is presented as a notable stock for value investors, currently holding a Zacks Rank of 2 (Buy) and an A for Value [2] - FFBC's Forward P/E ratio is 8.94, significantly lower than the industry's average Forward P/E of 10.16, indicating potential undervaluation [2] Group 2 - FFBC has a P/B ratio of 0.91, which is favorable compared to the industry's average P/B of 1.78, suggesting a solid market value relative to its book value [4] - The stock's P/CF ratio stands at 7.60, also lower than the industry's average P/CF of 12.20, reinforcing the notion that FFBC may be undervalued [7] - Overall, FFBC's strong value metrics and positive earnings outlook position it as an impressive value stock in the current market [5]

Investors might want to bet on First Financial Bancorp (FFBC) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following ye ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, June 14th: This Zacks Rank #1 (Strong Buy) company has a dividend yield of 4.7%, compared with the industry average of 2.7%. This Zacks Rank #1 company has a dividend yield of 4.5%, compared with the industry average of 0.1%. This Zacks Rank #1 company has a dividend yield of 4.4%, compared with the industry average of 3.6%. Find more top income stocks with some of our great premium screens Janus Henderson ...

First Financial Ban (FFBC) is a stock many investors are watching right now. FFBC is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 8.61, while its industry has an average P/E of 9.81. Over the past year, FFBC's Forward P/E has been as high as 10.76 and as low as 7.29, with a median of 9.21. While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develo ...

First Financial Bancorp. (FFBC) : This bank holding company for First Financial Bank has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.2% the last 60 days. This Zacks Rank #1 company has a dividend yield of 4.1%, compared with the industry average of 3.5%. Here are three stocks with buy rank and strong income characteristics for investors to consider today, May 29: First Horizon Corporation (FHN) : This bank holding company for First Horizon Bank has witnessed the Zacks C ...

CINCINNATI, May 28, 2024 /PRNewswire/ -- First Financial Bancorp (Nasdaq: FFBC) announces the election of Anne Arvia as a new director on the First Financial Board of Directors, following a vote during the company's annual meeting of shareholders on Tuesday, May 28, 2024. About First Financial Bancorp. First Financial Bancorp. is a Cincinnati, Ohio based bank holding company. As of March 31, 2024, the Company had $17.6 billion in assets, $11.2 billion in loans, $13.5 billion in deposits and $2.3 billion in ...

It seems to be a wise idea to add First Financial Bancorp. (FFBC) stock to your portfolio now. Supported by strong fundamentals, the company is well-poised for growth. Analysts seem optimistic regarding FFBC's earnings growth potential. The Zacks Consensus Estimate for First Financial's current-year earnings has been revised 5.2% upward over the past 30 days. Thus, currently, FFBC carries a Zacks Rank #2 (Buy). Additionally, First Financial's shares have rallied 10% over the past six months compared with 14 ...

Investors might want to bet on First Financial Bancorp (FFBC) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following ye ...