First Financial Bancorp. (NASDAQ:FFBC) Receives $33.67 Average PT from Analysts

First Financial Bancorp. (NASDAQ:FFBC) has received an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $33.6667.

Several analysts have commented on FFBC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of First Financial Bancorp. in a research report on Monday, June 8th. Truist Financial raised their price target on First Financial Bancorp. from $33.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, July 10th. Raymond James Financial lifted their price objective on First Financial Bancorp. from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded First Financial Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada increased their target price on First Financial Bancorp. from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Monday, April 27th.

First Financial Bancorp. Stock Performance

First Financial Bancorp. stock opened at $33.66 on Tuesday. The company has a market cap of $3.53 billion, a PE ratio of 11.89 and a beta of 0.92. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. First Financial Bancorp. has a 1 year low of $23.06 and a 1 year high of $36.24. The company’s 50-day moving average is $33.23 and its two-hundred day moving average is $30.48.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $264.17 million during the quarter, compared to analysts’ expectations of $270.29 million. First Financial Bancorp. had a net margin of 20.77% and a return on equity of 11.13%. First Financial Bancorp.’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 EPS. Equities analysts anticipate that First Financial Bancorp. will post 3.22 earnings per share for the current year.

First Financial Bancorp. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.26 dividend. This is a boost from First Financial Bancorp.’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.1%. First Financial Bancorp.’s dividend payout ratio (DPR) is currently 35.34%.

Insider Activity at First Financial Bancorp.

In related news, CFO James M. Anderson sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $33.73, for a total transaction of $134,920.00. Following the completion of the transaction, the chief financial officer owned 114,537 shares in the company, valued at approximately $3,863,333.01. The trade was a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Archie M. Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $30.93, for a total transaction of $309,300.00. Following the completion of the sale, the chief executive officer directly owned 243,758 shares of the company’s stock, valued at $7,539,434.94. The trade was a 3.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,440 shares of company stock worth $559,318 in the last ninety days. Company insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On First Financial Bancorp.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its position in shares of First Financial Bancorp. by 137.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 991 shares of the bank’s stock valued at $25,000 after buying an additional 574 shares in the last quarter. First Horizon Corp lifted its holdings in First Financial Bancorp. by 56.0% during the fourth quarter. First Horizon Corp now owns 1,526 shares of the bank’s stock worth $38,000 after acquiring an additional 548 shares in the last quarter. Hantz Financial Services Inc. grew its stake in First Financial Bancorp. by 38.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,743 shares of the bank’s stock valued at $44,000 after acquiring an additional 486 shares during the period. Smithfield Trust Co acquired a new position in First Financial Bancorp. in the fourth quarter valued at about $50,000. Finally, TD Private Client Wealth LLC increased its holdings in shares of First Financial Bancorp. by 14.2% in the fourth quarter. TD Private Client Wealth LLC now owns 3,309 shares of the bank’s stock worth $83,000 after acquiring an additional 412 shares in the last quarter. 77.23% of the stock is owned by institutional investors.

First Financial Bancorp. Company Profile

First Financial Bancorp (NASDAQ: FFBC) is a bank holding company headquartered in Cincinnati, Ohio, and the parent of First Financial Bank. The company provides a comprehensive suite of commercial and consumer banking services through a network of more than 100 full-service banking centers and mortgage offices across Ohio, Indiana and Kentucky. Its core mission centers on delivering personalized relationship banking to businesses, individuals and public sector clients.

First Financial Bank’s product portfolio includes deposit solutions such as checking, savings and money market accounts, alongside a range of lending offerings that cover commercial and industrial loans, real estate and construction financing, home mortgages and home equity lines of credit.