First Financial Bancorp. (NASDAQ:FFBC) Upgraded by Stephens to Overweight Rating

Stephens upgraded shares of First Financial Bancorp. (NASDAQ:FFBC) from an equal weight rating to an overweight rating in a research note published on Monday, Marketbeat.com reports.

Separately, Keefe, Bruyette & Woods raised their price target on First Financial Bancorp. from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

First Financial Bancorp. Stock Down 0.4 %

Shares of NASDAQ:FFBC opened at $28.95 on Monday. The company’s fifty day moving average is $27.14 and its two-hundred day moving average is $25.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 0.91. First Financial Bancorp. has a 1-year low of $20.59 and a 1-year high of $31.18. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 12.48 and a beta of 1.01.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings data on Thursday, October 24th. The bank reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. First Financial Bancorp. had a net margin of 18.55% and a return on equity of 10.32%. The firm had revenue of $302.82 million for the quarter, compared to analyst estimates of $214.00 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. Equities analysts anticipate that First Financial Bancorp. will post 2.53 EPS for the current year.

First Financial Bancorp. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.32%. The ex-dividend date is Monday, December 2nd. First Financial Bancorp.’s dividend payout ratio (DPR) is 41.38%.

Insider Buying and Selling at First Financial Bancorp.

In related news, insider Scott T. Crawley sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.31, for a total value of $87,930.00. Following the completion of the sale, the insider now owns 19,279 shares of the company’s stock, valued at $565,067.49. This represents a 13.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James R. Shank sold 3,700 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $26.34, for a total transaction of $97,458.00. Following the transaction, the insider now directly owns 15,374 shares in the company, valued at approximately $404,951.16. The trade was a 19.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,700 shares of company stock worth $335,429. 2.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in First Financial Bancorp. by 94.0% during the 2nd quarter. American Century Companies Inc. now owns 338,711 shares of the bank’s stock valued at $7,526,000 after purchasing an additional 164,105 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of First Financial Bancorp. by 162.4% in the second quarter. Millennium Management LLC now owns 242,187 shares of the bank’s stock valued at $5,381,000 after buying an additional 149,896 shares during the period. Barclays PLC boosted its stake in First Financial Bancorp. by 140.1% during the third quarter. Barclays PLC now owns 190,742 shares of the bank’s stock valued at $4,812,000 after buying an additional 111,309 shares in the last quarter. Edgestream Partners L.P. bought a new position in First Financial Bancorp. during the third quarter valued at about $2,792,000. Finally, Denali Advisors LLC grew its holdings in First Financial Bancorp. by 41.1% during the second quarter. Denali Advisors LLC now owns 302,700 shares of the bank’s stock worth $6,726,000 after acquiring an additional 88,100 shares during the period. 77.23% of the stock is currently owned by institutional investors.

About First Financial Bancorp.

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.