Overview
Ohio bank's Q4 adjusted EPS reached a record $0.80
Record adjusted revenue of $251.3 mln in Q4
Company closed Westfield acquisition and obtained approval for BankFinancial acquisition
Outlook
Company did not provide specific guidance for future quarters or years
Result Drivers
NONINTEREST INCOME - Record noninterest income driven by 36.2% increase in foreign exchange income and 26.4% increase in wealth management income
LOAN AND DEPOSIT GROWTH - Loan balances increased 4% on an annualized basis, with $1.7 bln increase including Westfield acquisition; deposits rose $1.4 bln
ACQUISITION IMPACT - Westfield acquisition contributed to increased loan and deposit balances, driving overall growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 EPS | $0.64 | ||
Q4 Net Income | $62.39 mln | ||
Q4 Net Interest Income | $174 mln | ||
Q4 Basic EPS | $0.65 | ||
Q4 CET1 Capital Ratio | 11.32% | ||
Q4 Credit Loss Allowance | $9.69 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for First Financial Bancorp is $30.00, about 9.9% above its January 27 closing price of $27.29
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago
Press Release: ID:nPn8gmBw7a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)