First Financial Bancorp. (FFBC) – What Are Analysts Thinking About This Stock?

First Financial Bancorp. (NASDAQ:FFBC) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $34.33.

FFBC has been the subject of a number of research analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $37.00 target price on shares of First Financial Bancorp. in a research note on Thursday, October 29th. Truist Financial upped their price target on First Financial Bancorp. from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, November 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Financial Bancorp. in a research note on Friday, September 4th.

First Financial Bancorp. Trading Down 0.5%

FFBC stock opened at $32.71 on Thursday. First Financial Bancorp. has a 1-year low of $23.16 and a 1-year high of $36.24. The firm has a market cap of $3.44 billion, a P/E ratio of 11.48 and a beta of 0.95. The business’s 50 day moving average is $32.07 and its 200-day moving average is $31.19. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings results on Tuesday, October 27th. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.82 by $0.02. First Financial Bancorp. had a return on equity of 11.44% and a net margin of 20.80%. The business had revenue of $273.91 million for the quarter, compared to analyst estimates of $270.97 million. During the same quarter in the previous year, the firm earned $0.76 EPS. Equities analysts anticipate that First Financial Bancorp. will post 3.25 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $1.04 dividend on an annualized basis and a yield of 3.2%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 36.49%.

Insiders Place Their Bets

In other news, CEO Archie M. Brown sold 5,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $32.93, for a total value of $164,650.00. Following the transaction, the chief executive officer owned 238,758 shares of the company’s stock, valued at $7,862,300.94. This represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas O’Brien sold 16,088 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $32.77, for a total value of $527,203.76. Following the completion of the transaction, the director owned 30,392 shares in the company, valued at $995,945.84. This represents a 34.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Financial Bancorp.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC acquired a new stake in shares of First Financial Bancorp. during the third quarter worth about $26,000. Rockefeller Capital Management L.P. grew 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 purchasing an additional 574 shares during the period. USA Financial Formulas bought a new stake in First Financial Bancorp. during the 3rd quarter worth approximately $39,000. Integrated Wealth Concepts LLC bought a new stake in First Financial Bancorp. during the 2nd quarter worth approximately $47,000. Finally, Nykredit A S bought a new stake in First Financial Bancorp. during the 2nd quarter worth approximately $55,000. Institutional investors own 77.23% of the company’s stock.

First Financial Bancorp. Company Profile

First Financial Bancorp. is a Cincinnati-based bank holding company and the parent of First Financial Bank. Its banking roots date to 1863, when the institution that became First Financial Bank was established in Hamilton, Ohio. Through First Financial Bank, the company provides commercial and consumer banking services, including business lending, deposit accounts, residential and personal lending, treasury management, and wealth management. It serves individuals, businesses, and organizations across Ohio, Indiana, Kentucky, and Illinois.