Royal Bank of Canada Issues Pessimistic Forecast for First Financial Bancorp. (NASDAQ:FFBC) Stock Price

First Financial Bancorp. (NASDAQ:FFBC) had its target price decreased by analysts at Royal Bank of Canada from $30.00 to $27.00 in a report released on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the bank’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 15.29% from the company’s current price.

Several other equities analysts have also issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on First Financial Bancorp. from $31.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday. Stephens reiterated an “overweight” rating and issued a $33.00 price target on shares of First Financial Bancorp. in a report on Friday, January 24th.

First Financial Bancorp. Stock Up 1.1 %

Shares of FFBC opened at $23.42 on Monday. The business’s fifty day moving average price is $24.36 and its two-hundred day moving average price is $26.55. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 9.76 and a beta of 0.85. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90.

First Financial Bancorp. (NASDAQ:FFBC) last posted its earnings results on Thursday, April 24th. The bank reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. The firm had revenue of $201.59 million for the quarter, compared to analyst estimates of $214.80 million. During the same period in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts predict that First Financial Bancorp. will post 2.64 earnings per share for the current year.

Insider Buying and Selling at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total value of $189,392.00. Following the sale, the insider now directly owns 11,141 shares in the company, valued at $277,633.72. This trade represents a 40.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FFBC. ORG Partners LLC bought a new stake in First Financial Bancorp. during the 4th quarter worth about $35,000. GAMMA Investing LLC increased its position in shares of First Financial Bancorp. by 43.9% in the first quarter. GAMMA Investing LLC now owns 1,522 shares of the bank’s stock valued at $38,000 after acquiring an additional 464 shares during the last quarter. Allworth Financial LP bought a new stake in First Financial Bancorp. during the fourth quarter worth about $44,000. Quarry LP boosted its position in First Financial Bancorp. by 68.9% during the fourth quarter. Quarry LP now owns 2,502 shares of the bank’s stock valued at $67,000 after purchasing an additional 1,021 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in First Financial Bancorp. by 221.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank’s stock valued at $73,000 after purchasing an additional 1,873 shares in the last quarter. Institutional investors own 77.23% of the company’s stock.

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.