First Financial Bancorp. (FFBC) vs Merchants Bancorp (MBIN)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Merchants Bancorp (MBIN) has outperformed First Financial Bancorp. (FFBC) over the past year, gaining 54.8% versus a gain of 21.1%. Over five years, MBIN leads with a +78.9% price change compared with +32.4% for FFBC. First Financial Bancorp. is the larger company by market cap ($3.28 billion vs $2.29 billion), about 1.4 times the size.
On valuation, Merchants Bancorp trades at a lower forward P/E (8.3x vs 8.8x for First Financial Bancorp.). First Financial Bancorp. offers the higher dividend yield (3.21% vs 0.84%). First Financial Bancorp. converts more of its revenue into profit, with a net margin of 319.4% versus 32.1%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | FFBC | MBIN |
|---|---|---|
| Share price | $31.20 | $49.80 |
| Market cap | $3.28B | $2.29B |
| 1-day change | +1.07% | +0.97% |
| YTD return | +24.70% | +46.21% |
| 1-year return | +21.07% | +54.75% |
| 5-year return | +32.37% | +78.92% |
| P/E ratio (TTM) | 11.02 | 10.00 |
| Forward P/E | 8.82 | 8.29 |
| EPS (TTM) | $2.83 | $4.98 |
| Dividend yield | 3.21% | 0.84% |
| Annual dividend | $1.00 | $0.42 |
| Revenue (latest FY) | $80.02M | $681.45M |
| Revenue growth (YoY) | +18.30% | +1.60% |
| Net income (latest FY) | $255.60M | $218.77M |
| Net margin | 319.43% | 32.10% |
| 52-week high | $36.25 | $56.87 |
| 52-week low | $23.06 | $30.37 |
| Distance from 52-week high | -13.93% | -12.43% |
| Analyst consensus | buy | hold |
| Avg. price target upside | +21.79% | +28.51% |
| Average volume | 916.72K | 186.70K |
| Shares outstanding | 105.17M | 45.94M |
| Employees | 2,371 | 735 |
| Sector | Financial Services | Financial Services |
| Industry | Banks - Regional | Banks - Regional |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- MBIN has outperformed FFBC by 33.7 percentage points over the past year.
- First Financial Bancorp. offers a meaningfully higher dividend yield (3.21% vs 0.84%).
- First Financial Bancorp. is more profitable, keeping 319.4 cents of every revenue dollar as net income versus 32.1 cents for Merchants Bancorp.
- First Financial Bancorp. grew revenue faster in its latest fiscal year (+18.30% vs +1.60%).
About First Financial Bancorp.
FFBC stock →First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and banking-related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois.
Financial Services · Banks - Regional · 2,371 employees
About Merchants Bancorp
MBIN stock →Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking.
Financial Services · Banks - Regional · 735 employees
FFBC vs MBIN FAQ
Which is bigger, First Financial Bancorp. or Merchants Bancorp?
First Financial Bancorp. (FFBC) is larger, with a market capitalization of $3.28B compared with $2.29B for Merchants Bancorp (MBIN).
Which stock has performed better over the past year, FFBC or MBIN?
MBIN returned +54.75% over the past 12 months, compared with +21.07% for FFBC (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, FFBC or MBIN?
MBIN has the lower trailing P/E at 10.0, versus 11.0 for FFBC. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, First Financial Bancorp. or Merchants Bancorp?
First Financial Bancorp. has the higher yield at 3.21%, compared with 0.84% for Merchants Bancorp.
Are First Financial Bancorp. and Merchants Bancorp in the same industry?
Yes. Both are classified in the Banks - Regional industry within the Financial Services sector.