First Financial Bancorp.

NasdaqGS:FFBC Stock Report

Market Cap: US$2.1b

First Financial Bancorp Valuation

Is FFBC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of FFBC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FFBC ($22.25) is trading below our estimate of fair value ($34.23)

Significantly Below Fair Value: FFBC is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for FFBC?

Other financial metrics that can be useful for relative valuation.

FFBC key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio-0.9x

Price to Earnings Ratio vs Peers

How does FFBC's PE Ratio compare to its peers?

The above table shows the PE ratio for FFBC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.8x
WBHC Wilson Bank Holding
42.1xn/aUS$2.1b
FRME First Merchants
9.3x-3.5%US$2.1b
WAFD WaFd
10.7x9.9%US$2.4b
LOB Live Oak Bancshares
25x30.6%US$1.8b
FFBC First Financial Bancorp
8.3x-8.9%US$2.1b

Price-To-Earnings vs Peers: FFBC is good value based on its Price-To-Earnings Ratio (8.3x) compared to the peer average (21.8x).


Price to Earnings Ratio vs Industry

How does FFBC's PE Ratio compare vs other companies in the US Banks Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a6.1%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a6.1%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: FFBC is good value based on its Price-To-Earnings Ratio (8.3x) compared to the US Banks industry average (9.5x).


Price to Earnings Ratio vs Fair Ratio

What is FFBC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FFBC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.3x
Fair PE Ratio8.6x

Price-To-Earnings vs Fair Ratio: FFBC is good value based on its Price-To-Earnings Ratio (8.3x) compared to the estimated Fair Price-To-Earnings Ratio (8.6x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FFBC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$22.25
US$25.10
+12.8%
2.6%US$26.00US$24.00n/a5
Mar ’25US$21.62
US$25.10
+16.1%
2.6%US$26.00US$24.00n/a5
Feb ’25US$22.36
US$24.88
+11.2%
2.2%US$25.50US$24.00n/a4
Jan ’25US$23.75
US$23.63
-0.5%
7.5%US$25.50US$21.00n/a4
Dec ’24US$21.25
US$21.88
+2.9%
5.2%US$23.00US$20.50n/a4
Nov ’24US$18.48
US$21.88
+18.4%
5.2%US$23.00US$20.50n/a4
Oct ’24US$19.60
US$24.00
+22.4%
4.6%US$26.00US$23.00n/a5
Sep ’24US$21.60
US$24.60
+13.9%
4.9%US$26.00US$23.00n/a5
Aug ’24US$22.92
US$24.60
+7.3%
4.9%US$26.00US$23.00n/a5
Jul ’24US$20.44
US$23.60
+15.5%
3.4%US$25.00US$23.00n/a5
Jun ’24US$19.48
US$23.60
+21.1%
3.4%US$25.00US$23.00n/a5
May ’24US$20.42
US$23.60
+15.6%
3.4%US$25.00US$23.00n/a5
Apr ’24US$21.77
US$25.40
+16.7%
6.4%US$28.00US$23.00n/a5
Mar ’24US$24.90
US$26.20
+5.2%
4.5%US$28.00US$25.00US$21.625
Feb ’24US$25.54
US$26.20
+2.6%
4.5%US$28.00US$25.00US$22.365
Jan ’24US$24.23
US$25.80
+6.5%
4.5%US$27.00US$24.00US$23.755
Dec ’23US$26.61
US$25.40
-4.5%
4.0%US$27.00US$24.00US$21.255
Nov ’23US$26.07
US$25.40
-2.6%
4.0%US$27.00US$24.00US$18.485
Oct ’23US$21.08
US$24.80
+17.6%
8.2%US$28.00US$22.00US$19.605
Sep ’23US$21.48
US$24.80
+15.5%
8.2%US$28.00US$22.00US$21.605
Aug ’23US$22.43
US$24.60
+9.7%
8.0%US$28.00US$22.00US$22.925
Jul ’23US$19.78
US$25.00
+26.4%
9.5%US$28.00US$21.00US$20.445
Jun ’23US$20.70
US$25.60
+23.7%
5.8%US$28.00US$24.00US$19.485
May ’23US$20.45
US$25.70
+25.7%
5.4%US$28.00US$24.00US$20.425
Apr ’23US$23.03
US$26.70
+15.9%
2.8%US$28.00US$26.00US$21.775
Mar ’23US$23.48
US$26.50
+12.9%
1.7%US$27.00US$26.00US$24.905

Analyst Forecast: Target price is less than 20% higher than the current share price.


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