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First Financial (FFBC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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First Financial Bancorp (FFBC - Free Report) reported $195.25 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 9.7%. EPS of $0.59 for the same period compares to $0.76 a year ago.
The reported revenue represents a surprise of -3.24% over the Zacks Consensus Estimate of $201.79 million. With the consensus EPS estimate being $0.59, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 62.7% compared to the 59.8% average estimate based on three analysts.
Net Interest Margin: 4.1% versus the three-analyst average estimate of 4.1%.
Net charge-offs to average loans (annualized): 0.4% compared to the 0.3% average estimate based on two analysts.
Average Balance - Total earning assets: $14.76 billion versus the two-analyst average estimate of $14.73 billion.
Total Noninterest Income: $46.51 million versus $53.50 million estimated by three analysts on average.
Foreign exchange income: $10.44 million compared to the $13.40 million average estimate based on two analysts.
Bankcard income: $3.14 million versus $3.38 million estimated by two analysts on average.
Net Interest Income: $148.74 million versus the two-analyst average estimate of $148.54 million.
Service charges on deposit accounts: $6.91 million versus the two-analyst average estimate of $6.73 million.
Net gains from sales of loans: $3.78 million versus the two-analyst average estimate of $2.98 million.
Other: $4.91 million versus $6.15 million estimated by two analysts on average.
Client derivative fees: $1.25 million versus $0.71 million estimated by two analysts on average.
Shares of First Financial have returned +1.4% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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First Financial (FFBC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
First Financial Bancorp (FFBC - Free Report) reported $195.25 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 9.7%. EPS of $0.59 for the same period compares to $0.76 a year ago.
The reported revenue represents a surprise of -3.24% over the Zacks Consensus Estimate of $201.79 million. With the consensus EPS estimate being $0.59, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 62.7% compared to the 59.8% average estimate based on three analysts.
- Net Interest Margin: 4.1% versus the three-analyst average estimate of 4.1%.
- Net charge-offs to average loans (annualized): 0.4% compared to the 0.3% average estimate based on two analysts.
- Average Balance - Total earning assets: $14.76 billion versus the two-analyst average estimate of $14.73 billion.
- Total Noninterest Income: $46.51 million versus $53.50 million estimated by three analysts on average.
- Foreign exchange income: $10.44 million compared to the $13.40 million average estimate based on two analysts.
- Bankcard income: $3.14 million versus $3.38 million estimated by two analysts on average.
- Net Interest Income: $148.74 million versus the two-analyst average estimate of $148.54 million.
- Service charges on deposit accounts: $6.91 million versus the two-analyst average estimate of $6.73 million.
- Net gains from sales of loans: $3.78 million versus the two-analyst average estimate of $2.98 million.
- Other: $4.91 million versus $6.15 million estimated by two analysts on average.
- Client derivative fees: $1.25 million versus $0.71 million estimated by two analysts on average.
View all Key Company Metrics for First Financial here>>>Shares of First Financial have returned +1.4% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.