First Financial Bancorp. (FFBC) — Fundamental Analysis & Key Financial Ratios

Kaplio overview: First Financial Bancorp.

Market cap $3B · 52 weeks $23 – $36 (10 % below the high) · P/E 11.4× · 2027 expected P/E 9.4× · Dividend 3.1 % · 4 years rising · Next earnings January 27, 2027 · expected EPS $0.79 · Closing price, Oct 30 · accounts published Oct 27.

• Valuation: P/B 1.2× (justified).
• Business: ROTCE 16.5 % (excellent).
• Balance sheet: Capital/assets 13.1 % (solid).
• Earnings: 7 of 8 (on track).

What would it be worth at its usual multiples?

At a P/B justified by its ROTCE 16.5 % (2.0×) $55 (+71 %); at its peers' median (1.4×) $38 (+19 %). Implied price from applying the reference multiples to today's earnings (or book value, or FFO) per share. Not a fair value: it is where the stock would trade at its usual multiples.

What matters in banking: 5 of 5 pass

• ROA 1.3 %, passes.
• ROTCE 16.5 %, passes.
• Equity / Assets (Tier 1 proxy) 13.1 %, passes.
• P/B (Price / Book) 1.2×, passes.
• Sustainable dividend yield 3.1 %, passes.

Against its peers (reference peers) — First Financial Bancorp.: P/E 11.3×; P/B 1.2×; ROE 10.2 %; $3.4B. Park National Corporation (P/E 15.4×; P/B 1.9×; ROE 12.3 %; $3.2B), NBT Bancorp Inc. (P/E 12.6×; P/B 1.4×; ROE 11.3 %; $2.7B), First Merchants Corporation (P/E 12.5×; P/B 1.0×; ROE 7.5 %; $2.5B).

Expensive or cheap against its last ten fiscal years?

P/B at each close: today 1.2× · median 1.0× · minimum 0.5× · maximum 2.2× · cheap below 1.0× · expensive above 1.8×. It has been cheaper than today 72% of the time over its last ten fiscal years.

Dividend

solid · Yield 3.1 % ($1.00 per share in 2025) · Years raising it 4 · 5-year growth +2 % a year · Free cash flow coverage payout 37 % · With $1,000 invested today you'd collect $31.10 a year ($2.59 a month).