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Compared to Estimates, First Financial (FFBC) Q2 Earnings: A Look at Key Metrics
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First Financial Bancorp (FFBC - Free Report) reported $214.09 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 28.2%. EPS of $0.69 for the same period compares to $0.55 a year ago.
The reported revenue represents a surprise of +0.64% over the Zacks Consensus Estimate of $212.73 million. With the consensus EPS estimate being $0.70, the EPS surprise was -1.43%.
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: 56.8% compared to the 55.38% average estimate based on three analysts.
Net Interest Margin: 4.43% versus the three-analyst average estimate of 4.33%.
Average Balance - Total earning assets: $14.40 billion versus the two-analyst average estimate of $14.31 billion.
Net loan charge-offs as % of average total loans: 0.22% compared to the 0.09% average estimate based on two analysts.
Total Noninterest Income: $53.26 million versus $54.46 million estimated by three analysts on average.
Bankcard income: $3.69 million versus $3.97 million estimated by two analysts on average.
Trust and wealth management fees: $6.71 million versus the two-analyst average estimate of $6.12 million.
Net Interest Income (FTE): $160.83 million compared to the $154.10 million average estimate based on two analysts.
Service charges on deposit accounts: $6.97 million versus $6.52 million estimated by two analysts on average.
Foreign exchange income: $15.04 million versus $13.68 million estimated by two analysts on average.
Net gains from sales of loans: $3.84 million versus $7.08 million estimated by two analysts on average.
Shares of First Financial have returned +12.5% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, First Financial (FFBC) Q2 Earnings: A Look at Key Metrics
First Financial Bancorp (FFBC - Free Report) reported $214.09 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 28.2%. EPS of $0.69 for the same period compares to $0.55 a year ago.
The reported revenue represents a surprise of +0.64% over the Zacks Consensus Estimate of $212.73 million. With the consensus EPS estimate being $0.70, the EPS surprise was -1.43%.
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: 56.8% compared to the 55.38% average estimate based on three analysts.
- Net Interest Margin: 4.43% versus the three-analyst average estimate of 4.33%.
- Average Balance - Total earning assets: $14.40 billion versus the two-analyst average estimate of $14.31 billion.
- Net loan charge-offs as % of average total loans: 0.22% compared to the 0.09% average estimate based on two analysts.
- Total Noninterest Income: $53.26 million versus $54.46 million estimated by three analysts on average.
- Bankcard income: $3.69 million versus $3.97 million estimated by two analysts on average.
- Trust and wealth management fees: $6.71 million versus the two-analyst average estimate of $6.12 million.
- Net Interest Income (FTE): $160.83 million compared to the $154.10 million average estimate based on two analysts.
- Service charges on deposit accounts: $6.97 million versus $6.52 million estimated by two analysts on average.
- Foreign exchange income: $15.04 million versus $13.68 million estimated by two analysts on average.
- Net gains from sales of loans: $3.84 million versus $7.08 million estimated by two analysts on average.
View all Key Company Metrics for First Financial here>>>Shares of First Financial have returned +12.5% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.