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First Financial Bancorp Q3 EPS rises 11% to record

By Reuters News


Overview

  • U.S. regional bank's Q3 EPS rose 11% yr/yr to record high

  • Company posted record Q3 revenue, driven by strong net interest margin and fee income

  • Received federal approval for Finward acquisition, expected to close Jan. 1, 2027


Outlook

  • Company expects low to mid single digit loan growth for the remainder of 2026

  • First Financial expects expenses to moderate in the fourth quarter

  • Company anticipates resolving a downgraded ICRE relationship over the next few quarters


Result Drivers

  • NET INTEREST MARGIN - Q3 net interest margin rose 9 bp from prior quarter, driven by higher asset yields, partially offset by increased funding costs

  • FEE INCOME - Record adjusted noninterest income was driven by strong performances from foreign exchange, wealth management, client derivatives and bankcard income

  • LOAN GROWTH - Co said Q3 loan balances increased moderately, with particularly strong growth in C&I portfolio


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

$0.77

Q3 Net Income

$81.18 mln

Q3 Net Interest Income

$196.26 mln

Q3 Adjusted EPS

$0.84

Q3 CET1 Capital Ratio

12.54%


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the banks peer group is "buy"

  • Wall Street's median 12-month price target for First Financial Bancorp. is $37.00, about 13.3% above its October 26 closing price of $32.67

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago


Reuters Recommended Reads

  • Oct 27 - First Financial Q3 profit jumps year-over-year on higher interest margin

  • Oct 26 - Northwest Bancshares Q3 adjusted EPS beats estimates on C&I loan growth

  • Oct 26 - German American Bancorp Q3 net income rises on higher yields and margin expansion


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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