First Financial Bancorp (FFBC) AI Stock Analysis

• Market Cap: $2.84B
• Dividend Yield: 3.79%
• Average Volume (3M): 645.06K
• Price to Earnings (P/E): 10.2
• Beta (1Y): 0.81
• Revenue Growth: 5.15%
• EPS Growth: 16.42%
• Country: US
• Employees: 2,021
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.64
• Shares Outstanding: 104,510,820
• 10 Day Avg. Volume: 976,895
• 30 Day Avg. Volume: 645,056
• PEG Ratio: -1.01
• Price to Book (P/B): 1.04
• Price to Sales (P/S): 2.07
• P/FCF Ratio: 10.53
• Enterprise Value/Market Cap: 1.41
• Enterprise Value/Revenue: 3.21
• Enterprise Value/Gross Profit: 4.74
• Enterprise Value/Ebitda: 11.60
• 1Y Price Target: $28.00
• Price Target Upside: 2.94% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 76 Outperform
• Price Target: $31.00 ▲(13.97% Upside)

FFBC scores well primarily on solid financial performance and favorable valuation (low P/E and solid dividend yield). Technicals are supportive with price above key moving averages and positive momentum. The earnings call adds confidence via constructive growth and margin guidance, partly offset by near-term integration costs and modest credit/NIM pressures.

Positive Factors

Diversified fee income

Sizable, diversified fee streams (wealth, FX, leasing, mortgage) drive durable noninterest revenue growth. Record fee income and 16% annual growth reduce reliance on NIM, smoothing earnings through cycle and supporting long‑term profitability as loan/deposit dynamics shift.

Capital and leverage management

Conservative leverage (D/E ~0.29) and capital ratios above internal and regulatory targets give the bank resilience. Strong capital supports organic growth, M&A activity, subordinated debt issuance, and dividend returns without materially elevating solvency risk over the next several quarters.

Consistent profitability and cash generation

Sustained net margins near 19% and high FCF conversion demonstrate an ability to generate cash from operations. This underpins dividend capacity, internal investment and capital rebuild after acquisitions, supporting stable returns and reduced refinancing pressure over the medium term.

Negative Factors

Near‑term integration costs

Acquisition-related integration costs and delayed synergies will keep noninterest expenses elevated into 2026, pressuring efficiency metrics. Persistent higher expense run‑rates can compress earnings and slow capital rebuild from acquisitions until conversions and runouts complete.

NIM compression risk

Margins are susceptible to rate cuts and deposit behavior; modest q/q NIM declines and guidance for further compression indicate structural pressure. If deposit repricing or competition intensifies, sustaining NIM will require ongoing funding cost discipline and may limit net interest income growth.

Asset quality upticks

A recent rise in NPAs and charge‑offs signals emerging credit stress in portions of the loan book. If trends persist or expand post‑acquisition, provisions could rise, eroding earnings and capital accumulation and requiring more conservative underwriting or higher loan loss reserves over coming quarters.

First Financial Bancorp Business Overview & Revenue Model

Company Description

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers. It also provides real estate loans secured by residential property, such as one to four family residential housing units or commercial property comprising owner-occupied and/or investor income producing real estate consisting of apartments, shopping centers, or office buildings; commercial and industrial loans for various purposes, including inventory, receivables, and equipment; consumer loans comprising new and used vehicle loans, second mortgages on residential real estate, and unsecured loans; and home equity lines of credit. In addition, the company offers commercial financing to the insurance industry, registered investment advisors, certified public accountants, indirect auto finance companies, and restaurant franchisees. Further, it provides a range of trust and wealth management services; and lease and equipment financing services. As of December 31, 2021, the company operated 139 full service banking centers, 29 of which are leased facilities. It operates 62 banking centers in Ohio, three banking centers in Illinois, 62 banking centers in Indiana, and 12 banking centers in Kentucky. First Financial Bancorp. was founded in 1863 and is headquartered in Cincinnati, Ohio.

How the Company Makes Money

First Financial Bancorp generates revenue primarily through interest income from loans and investments, as well as non-interest income from fees and services. The company earns interest income by lending to consumers and businesses, with loans including commercial real estate, residential mortgages, and consumer loans. Non-interest income comes from service charges on deposit accounts, wealth management fees, and other financial services. Additionally, FFBC may engage in partnerships with other financial institutions or businesses to enhance service offerings and expand its customer base, contributing to diversified revenue streams.

First Financial Bancorp Financial Statement Overview

Summary

Solid overall fundamentals: consistent revenue growth and healthy profitability (TTM net margin 19.14%). Leverage is well managed (debt-to-equity 0.29) and cash generation is strong (FCF to net income 0.93), though there are signs of modest margin pressure and a slightly lower equity ratio that warrant monitoring.

Income Statement

First Financial Bancorp has shown consistent revenue growth, with a TTM revenue growth rate of 3.40%. The gross profit margin is strong at 65.54%, and the net profit margin is healthy at 19.14%. However, there is a slight decline in margins compared to previous years, indicating potential cost pressures.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.29 in the TTM, indicating better leverage management. Return on equity is stable at 9.61%, reflecting consistent profitability. However, the equity ratio has slightly decreased, suggesting a need for cautious asset management.

Cash Flow

Free cash flow has grown by 5.23% in the TTM, and the free cash flow to net income ratio is strong at 0.93, indicating efficient cash generation relative to earnings. However, the operating cash flow to net income ratio is moderate, suggesting room for improvement in cash flow operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.25B	1.23B	1.12B	774.65M	654.72M	714.09M
Gross Profit	847.98M	787.92M	797.09M	697.07M	641.75M	575.08M
EBITDA	346.72M	306.74M	356.39M	280.53M	280.49M	225.65M
Net Income	258.10M	228.83M	255.86M	217.61M	205.16M	155.81M
Balance Sheet
Total Assets	18.55B	18.57B	17.53B	17.00B	16.33B	15.97B
Cash, Cash Equivalents and Short-Term Investments	4.16B	3.36B	4.03B	4.01B	4.64B	3.68B
Total Debt	816.99M	1.10B	1.28B	1.63B	706.03M	507.81M
Total Liabilities	15.92B	16.13B	15.26B	14.96B	14.07B	13.69B
Stockholders Equity	2.63B	2.44B	2.27B	2.04B	2.26B	2.28B
Cash Flow
Free Cash Flow	282.77M	241.08M	462.83M	187.07M	372.82M	91.90M
Operating Cash Flow	289.77M	262.16M	486.97M	200.85M	388.16M	108.36M
Investing Cash Flow	-359.31M	-1.00B	-701.26M	-883.11M	-510.03M	-1.20B
Financing Cash Flow	53.58M	699.08M	219.85M	669.73M	110.85M	1.13B

First Financial Bancorp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 27.20
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FFBC, the sentiment is Positive. The current price of 27.2 is above the 20-day moving average (MA) of 26.39, above the 50-day MA of 25.82, and above the 200-day MA of 24.59, indicating a bullish trend. The MACD of 0.58 indicates Negative momentum. The RSI at 70.68 is Negative, neither overbought nor oversold. The STOCH value of 77.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FFBC.

First Financial Bancorp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FRME	79 Outperform	$2.19B	9.76	9.47%	3.72%	-1.76%	32.44%
FFBC	76 Outperform	$2.84B	10.23	10.16%	3.79%	5.15%	16.42%
PFS	76 Outperform	$2.90B	9.96	10.72%	4.69%	38.34%	89.73%
TRMK	73 Outperform	$2.52B	11.38	10.98%	2.38%	17.95%	―
BANC	69 Neutral	$3.12B	17.15	6.50%	2.03%	20.64%	―
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
WAFD	60 Neutral	$2.44B	11.06	7.49%	3.27%	-1.58%	6.34%

First Financial Bancorp Corporate Events

First Financial Bancorp Completes BankFinancial All-Stock Acquisition

On January 1, 2026, First Financial Bancorp completed its all-stock acquisition of Chicago-based BankFinancial Corporation and merged BankFinancial’s banking subsidiary into First Financial Bank, creating a combined institution with approximately $22 billion in assets and significantly expanding First Financial’s retail consumer footprint in the Chicago market. The deal brings 18 BankFinancial financial centers and its regional and national commercial loan, lease and deposit platforms into First Financial’s network, reinforces the company’s broader Midwestern expansion strategy following recent deals in Illinois, Ohio and Michigan, and leaves both BankFinancial and First Financial customers largely unaffected operationally until a planned systems and brand conversion, expected to be completed by June 2026.

The most recent analyst rating on (FFBC) stock is a Buy with a $31.00 price target. To see the full list of analyst forecasts on First Financial Bancorp stock, see the FFBC Stock Forecast page.

First Financial Bancorp Gains Approval for Acquisition

First Financial Bancorp. announced on December 15, 2025, that it received regulatory approval from the Federal Reserve and the Ohio Department of Financial Institutions for its acquisition of BankFinancial Corporation, a Chicago-based bank. The merger, initially announced in August 2025, is valued at approximately $142 million and is expected to close on or around January 1, 2026, pending customary closing conditions and shareholder approval. This strategic acquisition is anticipated to enhance First Financial’s market presence and operational capabilities.

The most recent analyst rating on (FFBC) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on First Financial Bancorp stock, see the FFBC Stock Forecast page.

First Financial Bancorp’s Q3 2025 Investor Presentation Highlights

First Financial Bancorp announced its third-quarter 2025 investor presentation, highlighting its strong financial performance and strategic acquisitions, including Westfield Bancorp and BankFinancial. The company emphasized its top quartile profitability, conservative operating philosophy, and effective risk management, positioning itself as a competitive alternative to larger banks in the Midwest region.

The most recent analyst rating on (FFBC) stock is a Buy with a $29.00 price target. To see the full list of analyst forecasts on First Financial Bancorp stock, see the FFBC Stock Forecast page.

First Financial Bancorp Completes $300M Subordinated Notes Sale

On November 10, 2025, First Financial Bancorp completed the issuance and sale of $300 million in 6.375% Fixed-to-Floating Rate Subordinated Notes due 2035. The offering, managed by Keefe, Bruyette & Woods, Inc. and Janney Montgomery Scott LLC, resulted in net proceeds of approximately $296.3 million, which the company intends to use for general corporate purposes, including potentially redeeming its 5.25% Subordinated Notes due 2030. This strategic financial move is expected to bolster First Financial’s capital structure and support its ongoing operations and growth initiatives.

The most recent analyst rating on (FFBC) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on First Financial Bancorp stock, see the FFBC Stock Forecast page.

First Financial Bancorp Highlights Q3 2025 Performance

First Financial Bancorp presented its fixed income investor presentation for the third quarter of 2025, highlighting its robust financial performance and strategic positioning. The company emphasized its sustainable business model, strong capital position, and prudent risk management, which have contributed to its consistent profitability and growth over the years. The presentation also noted the company’s strategic focus on local banking and diverse fee streams, positioning it as an alternative to larger banks.

The most recent analyst rating on (FFBC) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on First Financial Bancorp stock, see the FFBC Stock Forecast page.

First Financial Bancorp Completes Westfield Bancorp Acquisition

On November 1, 2025, First Financial Bancorp completed its acquisition of Westfield Bancorp, Inc. and its subsidiary, Westfield Bank, FSB, in a transaction valued at $325 million. This strategic acquisition, which includes a mix of cash and stock, expands First Financial’s footprint in the Midwest, adding to its existing operations in Ohio, Indiana, Kentucky, and Illinois. The acquisition is expected to enhance First Financial’s growth and profitability by integrating Westfield Bank’s retail and commercial services into its operations. The merger will not immediately affect Westfield Bank clients, as the conversion process is anticipated to complete by March 2026.

The most recent analyst rating on (FFBC) stock is a Buy with a $28.00 price target. To see the full list of analyst forecasts on First Financial Bancorp stock, see the FFBC Stock Forecast page.