First Financial Bancorp (NASDAQ:FFBC) had its price target lifted by Barclays PLC from $20.00 to $22.00 in a research report report published on Tuesday morning. The brokerage currently has an underweight rating on the stock.
Other analysts have also issued reports about the company. Zacks Investment Research upgraded First Financial Bancorp from a sell rating to a hold rating in a report on Tuesday, July 12th. Jefferies Group restated a hold rating and issued a $21.00 price target on shares of First Financial Bancorp in a report on Thursday, July 7th. Keefe, Bruyette & Woods boosted their price target on First Financial Bancorp from $19.00 to $21.00 and gave the company a market perform rating in a report on Monday, July 25th. Raymond James Financial Inc. lowered First Financial Bancorp from an outperform rating to a market perform rating in a report on Thursday, October 6th. Finally, Piper Jaffray Cos. began coverage on First Financial Bancorp in a report on Thursday, October 6th. They set a neutral rating and a $23.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $20.81.
First Financial Bancorp (NASDAQ:FFBC) opened at 21.25 on Tuesday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 16.35 and a beta of 1.19. First Financial Bancorp has a 12 month low of $13.76 and a 12 month high of $22.53. The firm has a 50-day moving average price of $21.75 and a 200 day moving average price of $20.23.
First Financial Bancorp (NASDAQ:FFBC) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. First Financial Bancorp had a return on equity of 9.82% and a net margin of 22.23%. During the same period last year, the business earned $0.31 EPS. On average, equities analysts forecast that First Financial Bancorp will post $1.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend was Wednesday, August 31st. First Financial Bancorp’s dividend payout ratio (DPR) is presently 49.23%.
In other First Financial Bancorp news, EVP Holly M. Foster sold 2,021 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $21.84, for a total transaction of $44,138.64. Following the transaction, the executive vice president now owns 4,979 shares of the company’s stock, valued at $108,741.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Anthony M. Stollings sold 13,081 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $21.11, for a total value of $276,139.91. The disclosure for this sale can be found here. Company insiders own 2.19% of the company’s stock.
A number of institutional investors have recently made changes to their positions in FFBC. IFP Advisors Inc increased its position in shares of First Financial Bancorp by 0.9% in the first quarter. IFP Advisors Inc now owns 5,529 shares of the company’s stock worth $101,000 after buying an additional 49 shares during the period. PineBridge Investments L.P. increased its position in First Financial Bancorp by 4.2% in the second quarter. PineBridge Investments L.P. now owns 7,845 shares of the company’s stock valued at $153,000 after buying an additional 314 shares during the last quarter. Teacher Retirement System of Texas increased its position in First Financial Bancorp by 11.1% in the second quarter. Teacher Retirement System of Texas now owns 8,615 shares of the company’s stock valued at $168,000 after buying an additional 864 shares during the last quarter. Societe Generale purchased a new position in First Financial Bancorp during the second quarter valued at approximately $172,000. Finally, SG Americas Securities LLC increased its position in First Financial Bancorp by 54.1% in the second quarter. SG Americas Securities LLC now owns 8,825 shares of the company’s stock valued at $172,000 after buying an additional 3,100 shares during the last quarter. 72.70% of the stock is currently owned by hedge funds and other institutional investors.
First Financial Bancorp Company Profile
First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.
Receive News & Ratings for First Financial Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.