First Financial Bancorp
NASDAQ:FFBC
Intrinsic Value
First Financial Bancorp operates as a bank holding company. [ Read More ]
The intrinsic value of one FFBC stock under the Base Case scenario is 30.93 USD. Compared to the current market price of 22.25 USD, First Financial Bancorp is Undervalued by 28%.
Valuation Backtest
First Financial Bancorp
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Fundamental Analysis
First Financial Reports Strong Q4, Record 2023
2023-Q4 Earnings Call
First Financial celebrated a robust fourth quarter with adjusted EPS of $0.62, and a record 2023 year, with EPS growth of 17% to $2.77. Their successful year was attributed to favorable balance sheet performance and resilient net interest margins of 4.26% amid rising rates, which helped drive net interest income up 21%. Total revenue hit company highs at $840.2 million, an 18.5% increase over the prior year. Credit trends remained stable, and asset quality metrics improved. Growth was seen in loans (11% annualized) and tangible book value (13.5%). However, noninterest income decreased due to a one-off $4.6 million loss. Despite cost pressures, the company maintained a conservative ACL coverage at 1.29% of total loans. For 2024, the company anticipates loan growth will moderate to mid-single digits, net interest margin compression to between 4.05% and 4.15%, stable credit costs, noninterest income recovery to between $53 million and $55 million, and expenditures capped at $122 million.
Balance Sheet Decomposition
First Financial Bancorp
Net Loans | 10.8B |
Investments | 4.1B |
PP&E | 348m |
Intangibles | 1.1B |
Other Assets | 1.2B |
Total Deposits | 13.4B |
Short Term Debt | 137.8m |
Long Term Debt | 344.1m |
Other Liabilities | 1.4B |
Wall St
Price Targets
FFBC Price Targets Summary
First Financial Bancorp
According to Wall Street analysts, the average 1-year price target for FFBC is 25.6 USD with a low forecast of 24.24 USD and a high forecast of 27.3 USD.
Ownership
FFBC Insider Trading
Buy and sell transactions by insiders
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Shareholder Return
FFBC Price
First Financial Bancorp
Average Annual Return | 7.77% |
Standard Deviation of Annual Returns | 30.23% |
Max Drawdown | -55% |
Market Capitalization | 2.1B USD |
Shares Outstanding | 95 070 000 |
Percentage of Shares Shorted | 2.24% |
Company Profile
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Market Cap
Dividend Yield
Description
First Financial Bancorp operates as a bank holding company. The company is headquartered in Cincinnati, Ohio and currently employs 2,010 full-time employees. (First Financial) is a regional bank holding company. The firm is engaged in the business of commercial banking, other banking and banking-related activities through its subsidiary, First Financial Bank (the Bank). The company provides a range of banking services to individuals and businesses, which includes commercial lending, real estate lending and consumer financing. The firm offers deposit products that include interest-bearing accounts, non-interest-bearing accounts, time deposit and cash management services for commercial customers. The company also provides a range of trust and wealth management services through its Wealth Management line of business. The firm operates approximately 139 full-service banking centers in Ohio, Illinois, Indiana and Kentucky. The company also operates its Commercial Finance division, which is responsible for its insurance lending business and franchise lending business, from a non-banking center location in Indiana.
Contact
IPO
Employees
Officers
The intrinsic value of one FFBC stock under the Base Case scenario is 30.93 USD.
Compared to the current market price of 22.25 USD, First Financial Bancorp is Undervalued by 28%.