Declared Dividend • Jul 24
Second quarter dividend of US$0.26 announced Shareholders will receive a dividend of US$0.26. Ex-date: 1st September 2026 Payment date: 15th September 2026 Dividend yield will be 3.1%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 5.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 12% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 23
First Financial Bancorp. announces Quarterly dividend, payable on September 15, 2026 First Financial Bancorp. announced Quarterly dividend of USD 0.2600 per share payable on September 15, 2026, ex-date on September 01, 2026 and record date on September 01, 2026. Reported Earnings • Jul 22
Second quarter 2026 earnings released: EPS: US$0.74 (vs US$0.74 in 2Q 2025) Second quarter 2026 results: EPS: US$0.74 (up from US$0.74 in 2Q 2025). Revenue: US$252.8m (up 17% from 2Q 2025). Net income: US$76.5m (up 9.2% from 2Q 2025). Profit margin: 30% (down from 32% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 22
First Financial Bancorp. (NasdaqGS:FFBC) agreed to acquire Finward Bancorp (NasdaqCM:FNWD) for approximately $210 million. First Financial Bancorp. (NasdaqGS:FFBC) agreed to acquire Finward Bancorp (NasdaqCM:FNWD) for approximately $210 million on July 21, 2026. Under the terms of the agreement, each outstanding share of Finward common stock will be converted into the right to receive 1.35 shares of First Financial common stock, valuing the transaction at approximately $208 million. Finward's wholly owned banking subsidiary, Peoples Bank, is expected to merge with and into First Financial's wholly owned banking subsidiary, First Financial Bank, with First Financial Bank continuing as the surviving bank in the Bank Merger. In case of termination of transaction, seller will pay a termination fee of $9 million.
Upon completion of the transaction, Finward’s consumer, trust/wealth management and commercial credit lines of business will be incorporated into First Financial’s respective business lines, and Peoples Bank employees will become First Financial associates.
The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer board, approval of offer by target shareholders, registration statement effectiveness(S-4 / F-4) and listing / approval of new shares on stock exchange. The deal has been unanimously approved by the Boards of Directors of First Financial and Finward. The expected completion of the transaction is in the fourth quarter of 2026. The transaction is expected to be approximately 5% accretive to First Financial’s earnings per share, and First Financial’s tangible book value per share (“TBV”) at closing is estimated to be only slightly diluted (0.4% dilution) with an anticipated TBV earnback of 0.6 years.
Stephens Inc. acted as financial advisor and rendered fairness opinion for Finward Bancorp. Morgan Stanley & Co. LLC acted as financial advisor for First Financial Bancorp. James J. Barresi of Squire Patton Boggs LLP acted as legal advisor for First Financial Bancorp. Abdul Mitha of Barack Ferrazzano Kirschbaum & Nagelberg LLP acted as legal advisor for Finward Bancorp. Announcement • Jul 01
First Financial Bancorp. to Report Q2, 2026 Results on Jul 21, 2026 First Financial Bancorp. announced that they will report Q2, 2026 results After-Market on Jul 21, 2026 Recent Insider Transactions • Jun 10
President recently sold €268k worth of stock On the 8th of June, Archie Brown sold around 10k shares on-market at roughly €26.79 per share. This transaction amounted to 3.3% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €676k. Archie has been a net seller over the last 12 months, reducing personal holdings by €796k. Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 6 highly experienced directors. Independent Director Anne Arvia was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • May 20
First quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 1st June 2026 Payment date: 15th June 2026 Dividend yield will be 3.6%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 4.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 10% over the next year, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 29
First Financial Bancorp. Declares Quarterly Cash Dividend, Payable on June 15, 2026 On April 28, 2026, the board of directors of First Financial Bancorp. declared a quarterly cash dividend of $0.25 per common share. The dividend is payable on June 15, 2026 to shareholders of record as of June 1, 2026. Announcement • Apr 17
First Financial Bancorp., Annual General Meeting, May 26, 2026 First Financial Bancorp., Annual General Meeting, May 26, 2026. Location: file:///y:/us/260416/virtualshareholdermeeting.com, United States Announcement • Apr 02
First Financial Bancorp. to Report Q1, 2026 Results on Apr 23, 2026 First Financial Bancorp. announced that they will report Q1, 2026 results After-Market on Apr 23, 2026 Announcement • Jan 29
First Financial Bancorp Declares Quarterly Cash Dividend, Payable on March 16, 2026 First Financial Bancorp. Board of Directors approved a quarterly dividend of $0.25 per common share for the next regularly scheduled dividend, payable on March 16, 2026 to shareholders of record as of March 2, 2026. Announcement • Jan 07
First Financial Bancorp. to Report Q4, 2025 Results on Jan 28, 2026 First Financial Bancorp. announced that they will report Q4, 2025 results After-Market on Jan 28, 2026 Announcement • Jan 02
First Financial Bancorp. (NasdaqGS:FFBC) completed the acquisition of BankFinancial Corporation (NasdaqGS:BFIN). First Financial Bancorp. (NasdaqGS:FFBC) agreed to acquire BankFinancial Corporation (NasdaqGS:BFIN) for approximately $140 million on August 11, 2025. Upon the terms and subject to the conditions set forth in the Merger Agreement, at the effective time of the Merger, each share of common stock, of Seller, issued and outstanding immediately prior to the Effective Time, will be converted into the right to receive 0.480 of a share of common stock, no par value, of the Company. Based on the number of shares of BankFinancial common stock outstanding as of September 22, 2025, First Financial expects to issue approximately 5.98 million First Financial common shares to BankFinancial stockholders in the aggregate in the merger. First Financial shareholders will own approximately 94% and former BankFinancial stockholders will own approximately 6% of the common shares of First Financial following the completion of the merger. Under the merger agreement, BankFinancial will merge with and into First Financial, with First Financial as the surviving corporation in the merger (the “merger”). Immediately following the merger, BankFinancial, National Association (“BankFinancial NA”), a national banking association and a wholly-owned subsidiary of BankFinancial, will merge with and into First Financial Bank, an Ohio state-chartered bank and a wholly-owned subsidiary of First Financial, with First Financial Bank as the surviving bank (the “bank merger”). In case of termination of transaction, seller will pay a termination fee of $5 million.
The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer board, approval of offer by target shareholders, listing / approval of new shares on stock exchange and registration statement effectiveness(S-4 / F-4). The deal has been unanimously approved by the board. The Merger is expected to close in the fourth quarter of 2025. As of January 1, 2026 the transaction was approved by shareholders of BankFinancial. The transaction has received all the regulatory approvals. The expected completion of the transaction is on January 1, 2026.
James J. Barresi of Squire Patton Boggs LLP acted as legal advisor for First Financial Bancorp. Edwin S. del Hierro P.C. of Kirkland & Ellis LLP acted as legal advisor for BankFinancial Corporation. Ned A. Quint and Max Seltzer of Luse Gorman, P.C acted as legal advisor for BankFinancial Corporation. Morgan Stanley & Co. LLC acted as financial advisor for First Financial Bancorp. Keefe, Bruyette & Woods, Inc. acted as financial advisor and fairness opinion provider for BankFinancial Corp. BankFinancial agreed to pay KBW a cash fee currently estimated to be approximately $1.8 million in the aggregate, $250,000 of which became payable to KBW with the rendering of KBW’s opinion and the balance of which is contingent upon the closing of the merger. MacKenzie Partners, Inc. acted as information agent to BankFinancial in the transaction and will receive a fee of $18,000 plus reasonable expenses for these services. Computershare Shareholder Services acted as transfer agent to First Financial.
First Financial Bancorp. (NasdaqGS:FFBC) completed the acquisition of BankFinancial Corporation (NasdaqGS:BFIN) on January 1, 2026. Announcement • Dec 15
First Financial Bancorp. Secures Regulatory Approval For Acquisition Of BankFinancial First Financial Bancorp has secured regulatory approval from the Federal Reserve and the Ohio Department of Financial Institutions for its acquisition of BankFinancial Corporation. This approval is a crucial step in the acquisition process, which was initially announced in August 2025 as an all-stock transaction valued at approximately $142 million. The closing of the acquisition is anticipated to occur on or around January 1, 2026, pending customary closing conditions and approval by BankFinancial shareholders. This acquisition is expected to enhance First Financial's market presence and expand its financial services offerings. Announcement • Oct 29
First Financial Bancorp Declares Quarterly Cash Dividend, Payable on December 15, 2025 On Tuesday, October 28, 2025, the board of directors of First Financial Bancorp. declared a quarterly cash dividend of $0.25 per common share. The dividend is payable on December 15, 2025 to shareholders of record as of December 1, 2025. Announcement • Oct 24
First Financial Bancorp. Reports Net Charge Offs for the Third Quarter Ended September 30, 2025 First Financial Bancorp. reported net charge offs for the third quarter ended September 30, 2025. For the quarter, the company reported total net charge-offs of $5,218,000 against $7,284,000 a year ago. Announcement • Oct 03
First Financial Bancorp. to Report Q3, 2025 Results on Oct 23, 2025 First Financial Bancorp. announced that they will report Q3, 2025 results at 4:00 PM, US Eastern Standard Time on Oct 23, 2025 Announcement • Aug 12
First Financial Bancorp. (NasdaqGS:FFBC) agreed to acquire BankFinancial Corporation (NasdaqGS:BFIN) for approximately $140 million. First Financial Bancorp. (NasdaqGS:FFBC) agreed to acquire BankFinancial Corporation (NasdaqGS:BFIN) for approximately $140 million on August 11, 2025. Upon the terms and subject to the conditions set forth in the Merger Agreement, at the effective time of the Merger, each share of common stock, of Seller, issued and outstanding immediately prior to the Effective Time, will be converted into the right to receive 0.480 of a share of common stock, no par value, of the Company.
In case of termination of transaction, seller will pay a termination fee of $5 million.
The transaction is subject to approval by regulatory board / committee, approval of merger agreement by target board, approval of offer by acquirer board, approval of offer by target shareholders, listing / approval of new shares on stock exchange and registration statement effectiveness(S-4 / F-4). The deal has been unanimously approved by the board. The Merger is expected to close in the fourth quarter of 2025.
James J. Barresi of Squire Patton Boggs LLP acted as legal advisor for First Financial Bancorp. Edwin S. del Hierro P.C. of Kirkland & Ellis LLP acted as legal advisor for BankFinancial Corporation. Ned A. Quint of Luse Gorman, P.C acted as legal advisor for BankFinancial Corporation. Morgan Stanley & Co. LLC acted as financial advisor for First Financial Bancorp. Keefe, Bruyette & Woods, Inc. acted as financial advisor for First Financial Bancorp. Announcement • Jul 25
First Financial Bancorp. Approves Dividend for Quarter ended June 30, 2025, Payable on September 15, 2025 First Financial Bancorp. announced that its Board of Directors approved a quarterly for quarter ended June 30, 2025 of $0.25 per common share for the next regularly scheduled dividend, payable on September 15, 2025 to shareholders of record as of September 2, 2025. Announcement • Jul 03
First Financial Bancorp. to Report Q2, 2025 Results on Jul 24, 2025 First Financial Bancorp. announced that they will report Q2, 2025 results After-Market on Jul 24, 2025 Announcement • Jun 24
First Financial Bancorp. (NasdaqGS:FFBC) entered into a stock purchase agreement to acquire Westfield Bancorp from Ohio Farmers Insurance Company for approximately $330 million. First Financial Bancorp. (NasdaqGS:FFBC) entered into a stock purchase agreement to acquire Westfield Bancorp from Ohio Farmers Insurance Company for approximately $330 million on June 23, 2025. The transaction is valued at $325 million, which will be paid 80% in cash and 20% in stock of First Financial. Specifically, the transaction consideration will include $260 million in cash and approximately 2.75 million shares of First Financial stock. For the LTM ending March 31, 2025, Westfield Bancorp reported net income of $19.3 million. As of March 31, 2025, Westfield Bancorp reported total assets of $2.2 billion.
The closing is subject to customary conditions, including, among others, (i) receipt of required regulatory approvals; (ii) the absence of any governmental order that restrains, prevents or materially alters the transactions contemplated by the Purchase Agreement; (iii) the accuracy of the parties’ representations and warranties contained in the Purchase Agreement (subject to certain qualifications); and (iv) the parties’ material compliance with the covenants and agreements in the Purchase Agreement. Additionally, at the closing of the Acquisition, the Seller shall deliver an executed copy of a registration rights agreement. Approval of Westfield Bancorp’s sole shareholder, Ohio Farmers, has been received. The transaction is expected to close in the fourth quarter of 2025 and is expected to be 12% accretive to First Financial’s earnings with a tangible book value earn-back of approximately 2.9 years.
Janney Montgomery Scott LLC acted as financial advisor for First Financial Bancorp. Keefe, Bruyette & Woods, Inc. acted as financial advisor for Ohio Farmers Insurance Company. Amundsen Davis, LLC acted as legal advisor for First Financial Bancorp. Squire Patton Boggs LLP acted as legal advisor for Ohio Farmers Insurance Company. Announcement • Apr 30
First Financial Bancorp Declares Quarterly Cash Dividend, Payable on June 16, 2025 On April 29, 2025, the board of directors of First Financial Bancorp. declared a quarterly cash dividend of $0.24 per common share. The dividend is payable on June 16, 2025 to shareholders of record as of June 2, 2025. Announcement • Apr 04
First Financial Bancorp. to Report Q1, 2025 Results on Apr 24, 2025 First Financial Bancorp. announced that they will report Q1, 2025 results After-Market on Apr 24, 2025 Announcement • Feb 24
First Financial Bancorp., Annual General Meeting, May 27, 2025 First Financial Bancorp., Annual General Meeting, May 27, 2025. Announcement • Jan 03
First Financial Bancorp. to Report Q4, 2024 Results on Jan 23, 2025 First Financial Bancorp. announced that they will report Q4, 2024 results After-Market on Jan 23, 2025 Recent Insider Transactions • Nov 08
Independent Director recently sold €298k worth of stock On the 7th of November, Thomas O'Brien sold around 11k shares on-market at roughly €26.54 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth €696k. Insiders have been net sellers, collectively disposing of €2.1m more than they bought in the last 12 months. Declared Dividend • Nov 04
Third quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 2nd December 2024 Payment date: 16th December 2024 Dividend yield will be 3.8%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (40% payout ratio) and is expected to be well covered in 3 years' time (39% forecast payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 9.2% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 25
Third quarter 2024 earnings released: EPS: US$0.56 (vs US$0.67 in 3Q 2023) Third quarter 2024 results: EPS: US$0.56 (down from US$0.67 in 3Q 2023). Revenue: US$190.6m (down 4.8% from 3Q 2023). Net income: US$52.5m (down 17% from 3Q 2023). Profit margin: 28% (down from 32% in 3Q 2023). Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year and the company’s share price has also increased by 7% per year. Announcement • Oct 04
First Financial Bancorp. to Report Q3, 2024 Results on Oct 24, 2024 First Financial Bancorp. announced that they will report Q3, 2024 results After-Market on Oct 24, 2024 Recent Insider Transactions • Aug 30
Key Executive recently sold €696k worth of stock On the 29th of August, Claude Davis sold around 29k shares on-market at roughly €24.01 per share. This transaction amounted to 35% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Claude's only on-market trade for the last 12 months. Upcoming Dividend • Aug 23
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 30 August 2024. Payment date: 16 September 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.5%). Declared Dividend • Aug 05
Second quarter dividend of US$0.24 announced Shareholders will receive a dividend of US$0.24. Ex-date: 30th August 2024 Payment date: 16th September 2024 Dividend yield will be 3.6%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 1.5% over the next year, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Aug 02
Insider recently sold €317k worth of stock On the 30th of July, Richard Dennen sold around 13k shares on-market at roughly €25.39 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.1m more than they bought in the last 12 months. Reported Earnings • Jul 26
Second quarter 2024 earnings released: EPS: US$0.64 (vs US$0.70 in 2Q 2023) Second quarter 2024 results: EPS: US$0.64 (down from US$0.70 in 2Q 2023). Revenue: US$198.4m (down 1.7% from 2Q 2023). Net income: US$60.8m (down 7.4% from 2Q 2023). Profit margin: 31% (down from 33% in 2Q 2023). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 9% per year. Announcement • Jul 26
First Financial Bancorp Announces Quarterly Dividend Increase, Payable on September 16, 2024 First Financial Bancorp. approved a quarterly dividend of $0.24per common share for the next regularly scheduled dividend, payable on September 16, 2024 to shareholders of record as of September 2, 2024. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €24.00, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 45% over the past three years. Announcement • Jul 06
First Financial Bancorp. to Report Q2, 2024 Results on Jul 25, 2024 First Financial Bancorp. announced that they will report Q2, 2024 results After-Market on Jul 25, 2024 Announcement • May 29
First Financial Bancorp Announces Board Changes First Financial Bancorp 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 May 28, 2024. Ms. Arvia, 61, is a principal of strategic transformation and program management for Cornerstone Advisors, a Scottsdale, Arizona-based management consulting firm specializing in advising financial institutions. She has held this role since 2023. Ms. Arvia, who lives in Naperville, Illinois, previously worked as executive vice president of The Auto Club Group and CEO and president of The Auto Club Trust, FSB, both of which are AAA companies, in Dearborn, Michigan. Ms. Arvia also held executive leadership roles at USAA Bank in San Antonio, Texas; Nationwide Insurance in Columbus, Ohio; and ShoreBank in Chicago, Illinois. She has been a CPA since 1985 with public accounting experience. Susan Knust and William Barron previously announced their retirements from the board effective at the conclusion of the annual meeting. Ms. Knust had served on the board of First Financial Bank since 1999, and on the board of First Financial Bancorp since 2005. Mr. Barron served on the First Financial Bancorp board since 2018, and the board of predecessor entities since 1983. Upcoming Dividend • May 27
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 03 June 2024. Payment date: 17 June 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (6.3%). Recent Insider Transactions • May 16
Insider recently sold €228k worth of stock On the 15th of May, Richard Dennen sold around 11k shares on-market at roughly €21.75 per share. This transaction amounted to 10% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €769k more than they bought in the last 12 months. Declared Dividend • May 06
First quarter dividend of US$0.23 announced Shareholders will receive a dividend of US$0.23. Ex-date: 3rd June 2024 Payment date: 17th June 2024 Dividend yield will be 4.0%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 1.9% over the next year. However, it would need to fall by 59% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: US$0.54 (vs US$0.75 in 1Q 2023) First quarter 2024 results: EPS: US$0.54 (down from US$0.75 in 1Q 2023). Revenue: US$184.1m (down 9.9% from 1Q 2023). Net income: US$50.7m (down 28% from 1Q 2023). Profit margin: 28% (down from 34% in 1Q 2023). Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Apr 06
First Financial Bancorp. to Report Q1, 2024 Results on Apr 25, 2024 First Financial Bancorp. announced that they will report Q1, 2024 results After-Market on Apr 25, 2024 Announcement • Mar 22
First Financial Bancorp., Annual General Meeting, May 28, 2024 First Financial Bancorp., Annual General Meeting, May 28, 2024. Reported Earnings • Feb 25
Full year 2023 earnings released: EPS: US$2.72 (vs US$2.33 in FY 2022) Full year 2023 results: EPS: US$2.72 (up from US$2.33 in FY 2022). Revenue: US$796.7m (up 18% from FY 2022). Net income: US$255.9m (up 18% from FY 2022). Profit margin: 32% (in line with FY 2022). Net interest margin (NIM): 4.40% (up from 3.77% in FY 2022). Non-performing loans: 0.60% (up from 0.38% in FY 2022). Revenue is forecast to grow 1.1% p.a. on average during the next 2 years, compared to a 1.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Feb 22
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 29 February 2024. Payment date: 15 March 2024. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (6.6%). Declared Dividend • Feb 05
Fourth quarter dividend of US$0.23 announced Shareholders will receive a dividend of US$0.23. Ex-date: 29th February 2024 Payment date: 15th March 2024 Dividend yield will be 4.2%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by earnings (34% payout ratio) and is expected to be well covered in 3 years' time (41% forecast payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 18% over the next 2 years. However, it would need to fall by 62% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Jan 27
Full year 2023 earnings released: EPS: US$2.72 (vs US$2.33 in FY 2022) Full year 2023 results: EPS: US$2.72 (up from US$2.33 in FY 2022). Revenue: US$797.1m (up 18% from FY 2022). Net income: US$255.9m (up 18% from FY 2022). Profit margin: 32% (in line with FY 2022). Revenue is forecast to grow 2.1% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Jan 26
First Financial Bancorp. Approves Quarterly Dividend, Payable on March 15, 2024 First Financial Bancorp. board of directors approved a quarterly dividend of $0.23 per common share for the next regularly scheduled dividend, payable on March 15, 2024 to shareholders of record as of March 1, 2024. Announcement • Jan 09
First Financial Bancorp. to Report Q4, 2023 Results on Jan 25, 2024 First Financial Bancorp. announced that they will report Q4, 2023 results After-Market on Jan 25, 2024 Recent Insider Transactions • Dec 22
Independent Director recently sold €310k worth of stock On the 19th of December, William Barron sold around 14k shares on-market at roughly €21.81 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.1m more than they bought in the last 12 months. Upcoming Dividend • Nov 23
Upcoming dividend of US$0.23 per share at 4.5% yield Eligible shareholders must have bought the stock before 30 November 2023. Payment date: 15 December 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (6.4%). Reported Earnings • Oct 25
Third quarter 2023 earnings released: EPS: US$0.67 (vs US$0.59 in 3Q 2022) Third quarter 2023 results: EPS: US$0.67 (up from US$0.59 in 3Q 2022). Revenue: US$200.4m (up 29% from 3Q 2022). Net income: US$63.1m (up 13% from 3Q 2022). Profit margin: 32% (down from 36% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 3.6% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 15% per year. Announcement • Oct 07
First Financial Bancorp. to Report Q3, 2023 Results on Oct 24, 2023 First Financial Bancorp. announced that they will report Q3, 2023 results After-Market on Oct 24, 2023 Upcoming Dividend • Aug 24
Upcoming dividend of US$0.23 per share at 4.4% yield Eligible shareholders must have bought the stock before 31 August 2023. Payment date: 15 September 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (6.1%). Recent Insider Transactions • Aug 22
Insider recently sold €230k worth of stock On the 18th of August, Richard Dennen sold around 12k shares on-market at roughly €19.80 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.0m more than they bought in the last 12 months. Announcement • Jul 23
First Financial Bancorp. Provides Earnings Guidance for the Third Quarter of 2023 First Financial Bancorp. provided earnings guidance for the third quarter of 2023. For the quarter, the company expects fee income to be stable in the range between $53 million and $55 million, including the leasing business. Reported Earnings • Jul 21
Second quarter 2023 earnings released: EPS: US$0.70 (vs US$0.55 in 2Q 2022) Second quarter 2023 results: EPS: US$0.70 (up from US$0.55 in 2Q 2022). Revenue: US$201.8m (up 20% from 2Q 2022). Net income: US$65.7m (up 28% from 2Q 2022). Profit margin: 33% (up from 31% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 19% per year. Announcement • Jul 12
First Financial Bancorp. to Report Q2, 2023 Results on Jul 20, 2023 First Financial Bancorp. announced that they will report Q2, 2023 results After-Market on Jul 20, 2023 New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.0% average weekly change). Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €20.80, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 7x in the Banks industry in Europe. Total returns to shareholders of 82% over the past three years. Upcoming Dividend • May 24
Upcoming dividend of US$0.23 per share at 4.6% yield Eligible shareholders must have bought the stock before 31 May 2023. Payment date: 15 June 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.6%. Within top quartile of German dividend payers (4.6%). Lower than average of industry peers (6.1%). Reported Earnings • Apr 21
First quarter 2023 earnings released: EPS: US$0.75 (vs US$0.44 in 1Q 2022) First quarter 2023 results: EPS: US$0.75 (up from US$0.44 in 1Q 2022). Revenue: US$204.4m (up 33% from 1Q 2022). Net income: US$70.4m (up 71% from 1Q 2022). Profit margin: 34% (up from 27% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.3% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 14% per year and the company’s share price has also increased by 14% per year. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: US$2.33 (vs US$2.16 in FY 2021) Full year 2022 results: EPS: US$2.33 (up from US$2.16 in FY 2021). Revenue: US$673.2m (up 7.0% from FY 2021). Net income: US$217.6m (up 6.1% from FY 2021). Profit margin: 32% (in line with FY 2021). Net interest margin (NIM): 3.77% (up from 3.31% in FY 2021). Non-performing loans: 0.38% (down from 0.65% in FY 2021). Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 6.6% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 8% per year. Upcoming Dividend • Feb 21
Upcoming dividend of US$0.23 per share at 3.6% yield Eligible shareholders must have bought the stock before 28 February 2023. Payment date: 15 March 2023. Trailing yield: 3.6%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (5.3%). Recent Insider Transactions • Feb 15
Non-Executive Chairman of the Board recently sold €596k worth of stock On the 13th of February, Claude Davis sold around 25k shares on-market at roughly €23.84 per share. This transaction amounted to 25% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Claude has been a net seller over the last 12 months, reducing personal holdings by €1.2m. Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: US$2.33 (vs US$2.16 in FY 2021) Full year 2022 results: EPS: US$2.33 (up from US$2.16 in FY 2021). Revenue: US$697.1m (up 11% from FY 2021). Net income: US$217.6m (up 6.1% from FY 2021). Profit margin: 31% (down from 33% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Jan 27
First Financial Bancorp. Approves Quarterly Dividend, Payable on March 15, 2023 First Financial Bancorp. board of directors approved a quarterly dividend of $0.23 per common share for the next regularly scheduled dividend, payable on March 15, 2023 to shareholders of record as of March 1, 2023. Announcement • Jan 12
First Financial Bancorp. Announces Retirement of Corinne Finnerty as Director of the Company First Financial Bancorp. announced that Corinne Finnerty has notified the Company of her decision to retire as a director of the Company effective at the end of her current term. Accordingly, Mrs. Finnerty will not stand for re-election at the Company’s 2023 Annual Meeting of Shareholders to be held on May 23, 2023. Announcement • Jan 10
First Financial Bancorp. to Report Fiscal Year 2022 Results on Jan 26, 2023 First Financial Bancorp. announced that they will report fiscal year 2022 results at 4:00 PM, US Eastern Standard Time on Jan 26, 2023 Upcoming Dividend • Nov 23
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 30 November 2022. Payment date: 15 December 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (6.3%). Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Independent Director Gary Warzala was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 03
Insider recently sold €537k worth of stock On the 1st of November, Richard Dennen sold around 20k shares on-market at roughly €26.55 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €1.6m more than they bought in the last 12 months. Announcement • Oct 26
First Financial Bancorp Declares Quarterly Cash Dividend, Payable on December 15, 2022 On October 25, 2022, the board of directors of First Financial Bancorp. declared a quarterly cash dividend of $0.23 per common share. The dividend is payable on December 15, 2022 to shareholders of record as of December 1, 2022. Reported Earnings • Oct 22
Third quarter 2022 earnings released: EPS: US$0.59 (vs US$0.64 in 3Q 2021) Third quarter 2022 results: EPS: US$0.59 (down from US$0.64 in 3Q 2021). Revenue: US$172.1m (up 7.1% from 3Q 2021). Net income: US$55.7m (down 7.2% from 3Q 2021). Profit margin: 32% (down from 37% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 4% per year. Announcement • Oct 21
First Financial Bancorp Announces Net Charge-Offs for the Third Quarter Ended September 30, 2022 First Financial Bancorp announced net charge-offs for the third quarter ended September 30, 2022. Total net charge-offs of $1,687,000 compared to $2,494,000 a year ago. Announcement • Oct 07
First Financial Bancorp. to Report Q3, 2022 Results on Oct 20, 2022 First Financial Bancorp. announced that they will report Q3, 2022 results at 4:00 PM, US Eastern Standard Time on Oct 20, 2022 Upcoming Dividend • Aug 24
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 31 August 2022. Payment date: 15 September 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (6.5%). Announcement • Jul 27
First Financial Bancorp Declares Quarterly Cash Dividend, Payable on September 15, 2022 On July 26, 2022, the board of directors of First Financial Bancorp. declared a quarterly cash dividend of $0.23 per common share. The dividend is payable on September 15, 2022 to shareholders of record as of September 1, 2022. Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: US$0.55 (vs US$0.53 in 2Q 2021) Second quarter 2022 results: EPS: US$0.55 (up from US$0.53 in 2Q 2021). Revenue: US$167.8m (up 4.9% from 2Q 2021). Net income: US$51.5m (up 1.2% from 2Q 2021). Profit margin: 31% (down from 32% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.4%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jul 08
First Financial Bancorp. to Report Q2, 2022 Results on Jul 21, 2022 First Financial Bancorp. announced that they will report Q2, 2022 results at 4:00 PM, US Eastern Standard Time on Jul 21, 2022 Announcement • May 26
First Financial Bancorp Announces Appointment of Gary Warzala as Member of Board of Director First Financial Bancorp held its annual meeting of shareholders May 24, 2022, during which Gary Warzala was elected to a one-year term as a new member of the First Financial board of directors, effective immediately. Warzala is currently a security and risk management executive advisor with Gartner Inc. Before joining Gartner in 2019, he served as chief information security officer to Fifth Third Bank, PNC Bank, and Visa International. Warzala is a board member of the Economic Crime & Cybersecurity Institute of Utica College, and the INTERalliance of Cincinnati. He also serves as an industry advisory board member for the University of Cincinnati. John T. Neighbours, a member of First Financial Bancorp's board of directors since August 2015, previously announced his retirement from the board, effective as of today's meeting. Upcoming Dividend • May 24
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 31 May 2022. Payment date: 15 June 2022. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 4.4%. Within top quartile of German dividend payers (4.2%). Lower than average of industry peers (6.4%). Recent Insider Transactions • May 21
Independent Director recently sold €68k worth of stock On the 16th of May, William Barron sold around 4k shares on-market at roughly €19.35 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €2.1m more than they bought in the last 12 months. Recent Insider Transactions • May 03
President recently bought €97k worth of stock On the 29th of April, Archie Brown bought around 5k shares on-market at roughly €19.50 per share. This was the largest purchase by an insider in the last 3 months. This was Archie's only on-market trade for the last 12 months. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. Independent Director William Barron was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 27
First Financial Bancorp Declares Quarterly Cash Dividend, Payable on June 15, 2022 On April 26, 2022, the board of directors of First Financial Bancorp declared a quarterly cash dividend of $0.23 per common share. The dividend is payable on June 15, 2022 to shareholders of record as of June 1, 2022. Reported Earnings • Apr 23
First quarter 2022 earnings released: EPS: US$0.44 (vs US$0.49 in 1Q 2021) First quarter 2022 results: EPS: US$0.44 (down from US$0.49 in 1Q 2021). Revenue: US$153.5m (up 2.2% from 1Q 2021). Net income: US$41.3m (down 13% from 1Q 2021). Profit margin: 27% (down from 32% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 4.2%, compared to a 8.2% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Announcement • Apr 09
First Financial Bancorp. to Report Q1, 2022 Results on Apr 21, 2022 First Financial Bancorp. announced that they will report Q1, 2022 results After-Market on Apr 21, 2022 Announcement • Apr 01
First Financial Bancorp., Annual General Meeting, May 24, 2022 First Financial Bancorp., Annual General Meeting, May 24, 2022. Announcement • Mar 31
First Financial Bancorp. Announces the Retirement of John Neighbours as Director John Neighbours has notified First Financial Bancorp of his decision to retire as a director of the Company effective at the end of his current term. Accordingly, Mr. Neighbours will not stand for re-election at the Company's 2022 Annual Meeting of Shareholders to be held on May 24, 2022. Upcoming Dividend • Feb 21
Upcoming dividend of US$0.23 per share Eligible shareholders must have bought the stock before 28 February 2022. Payment date: 15 March 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 3.6%. Within top quartile of German dividend payers (3.3%). Lower than average of industry peers (4.5%).