Back to top

Image: Bigstock

First Financial (FFBC) Moves 8.4% Higher: Will This Strength Last?

Read MoreHide Full Article

First Financial Bancorp (FFBC - Free Report) shares ended the last trading session 8.4% higher at $23.08. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 16.5% loss over the past four weeks.

A statement from the Treasury Secretary Janet Yellen about readiness of the administration to protect smaller banks by undertaking additional steps as the banking industry faces worst crisis since 2008 resulted in investor optimism. This drove the FFBC stock higher.

This holding company for First Financial Bank is expected to post quarterly earnings of $0.72 per share in its upcoming report, which represents a year-over-year change of +56.5%. Revenues are expected to be $204.03 million, up 36.8% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For First Financial, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FFBC going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

First Financial is part of the Zacks Banks - Midwest industry. First Financial Corp. (THFF - Free Report) , another stock in the same industry, closed the last trading session 2.2% higher at $39.15. THFF has returned -14.6% in the past month.

For First Financial Corp., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.27. This represents a change of -24% from what the company reported a year ago. First Financial Corp. currently has a Zacks Rank of #3 (Hold).


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


First Financial Bancorp. (FFBC) - free report >>

First Financial Corporation Indiana (THFF) - free report >>

Published in