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Here's What Key Metrics Tell Us About First Financial (FFBC) Q3 Earnings
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For the quarter ended September 2023, First Financial Bancorp (FFBC - Free Report) reported revenue of $213.74 million, up 17.4% over the same period last year. EPS came in at $0.67, compared to $0.61 in the year-ago quarter.
The reported revenue represents a surprise of +2.15% over the Zacks Consensus Estimate of $209.25 million. With the consensus EPS estimate being $0.67, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 57.5% versus 55.8% estimated by three analysts on average.
Net Interest Margin: 4.3% versus 4.3% estimated by three analysts on average.
Average Balance - Total earning assets: $14.40 billion versus $14.45 billion estimated by two analysts on average.
Net charge-offs to average loans (annualized): 0.6% compared to the 0.2% average estimate based on two analysts.
Total Noninterest Income: $56.63 million versus the three-analyst average estimate of $54.01 million.
Foreign exchange income: $13.38 million versus $14.92 million estimated by two analysts on average.
Bankcard income: $3.41 million compared to the $3.64 million average estimate based on two analysts.
Wealth management fees: $6.94 million compared to the $6.81 million average estimate based on two analysts.
Net interest income - tax equivalent: $157.11 million compared to the $156.50 million average estimate based on two analysts.
Other: $5.76 million versus the two-analyst average estimate of $5.28 million.
Service charges on deposit accounts: $6.96 million versus the two-analyst average estimate of $6.99 million.
Client derivative fees: $1.61 million compared to the $1.34 million average estimate based on two analysts.
Shares of First Financial have returned -3.1% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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Here's What Key Metrics Tell Us About First Financial (FFBC) Q3 Earnings
For the quarter ended September 2023, First Financial Bancorp (FFBC - Free Report) reported revenue of $213.74 million, up 17.4% over the same period last year. EPS came in at $0.67, compared to $0.61 in the year-ago quarter.
The reported revenue represents a surprise of +2.15% over the Zacks Consensus Estimate of $209.25 million. With the consensus EPS estimate being $0.67, the company has not delivered EPS surprise.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 57.5% versus 55.8% estimated by three analysts on average.
- Net Interest Margin: 4.3% versus 4.3% estimated by three analysts on average.
- Average Balance - Total earning assets: $14.40 billion versus $14.45 billion estimated by two analysts on average.
- Net charge-offs to average loans (annualized): 0.6% compared to the 0.2% average estimate based on two analysts.
- Total Noninterest Income: $56.63 million versus the three-analyst average estimate of $54.01 million.
- Foreign exchange income: $13.38 million versus $14.92 million estimated by two analysts on average.
- Bankcard income: $3.41 million compared to the $3.64 million average estimate based on two analysts.
- Wealth management fees: $6.94 million compared to the $6.81 million average estimate based on two analysts.
- Net interest income - tax equivalent: $157.11 million compared to the $156.50 million average estimate based on two analysts.
- Other: $5.76 million versus the two-analyst average estimate of $5.28 million.
- Service charges on deposit accounts: $6.96 million versus the two-analyst average estimate of $6.99 million.
- Client derivative fees: $1.61 million compared to the $1.34 million average estimate based on two analysts.
View all Key Company Metrics for First Financial here>>>Shares of First Financial have returned -3.1% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.