First Financial Bancorp. (NASDAQ:FFBC) Given Average Rating of “Hold” by Analysts

Shares of First Financial Bancorp. (NASDAQ:FFBC) have been assigned an average rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $29.50.

Several analysts have recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $28.00 price objective (down from $30.00) on shares of First Financial Bancorp. in a report on Monday, October 27th. Hovde Group assumed coverage on shares of First Financial Bancorp. in a research report on Monday, October 6th. They set an “outperform” rating for the company. Zacks Research lowered shares of First Financial Bancorp. from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Truist Financial increased their price target on First Financial Bancorp. from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings cut First Financial Bancorp. from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday.

Insider Transactions at First Financial Bancorp.

In other First Financial Bancorp. news, CEO Archie M. Brown sold 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $26.80, for a total value of $308,200.00. Following the sale, the chief executive officer owned 229,391 shares in the company, valued at approximately $6,147,678.80. This represents a 4.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.13% of the company’s stock.

Hedge Funds Weigh In On First Financial Bancorp.

Several institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in First Financial Bancorp. during the first quarter valued at $5,714,000. Gator Capital Management LLC purchased a new stake in shares of First Financial Bancorp. during the third quarter worth about $5,603,000. Bahl & Gaynor Inc. raised its position in shares of First Financial Bancorp. by 47.7% during the 3rd quarter. Bahl & Gaynor Inc. now owns 559,488 shares of the bank’s stock worth $14,127,000 after purchasing an additional 180,575 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in First Financial Bancorp. by 110.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 324,852 shares of the bank’s stock valued at $7,881,000 after buying an additional 170,540 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in First Financial Bancorp. by 66.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 374,396 shares of the bank’s stock valued at $9,454,000 after buying an additional 149,044 shares in the last quarter. 77.23% of the stock is owned by hedge funds and other institutional investors.

First Financial Bancorp. Trading Up 3.3%

First Financial Bancorp. stock opened at $26.81 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.29. First Financial Bancorp. has a 52 week low of $21.10 and a 52 week high of $29.21. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 9.93 and a beta of 0.99. The stock has a 50-day moving average price of $25.37 and a 200 day moving average price of $25.20.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings results on Tuesday, November 4th. The bank reported $0.76 earnings per share for the quarter. First Financial Bancorp. had a net margin of 20.64% and a return on equity of 10.72%. The company had revenue of $234.01 million for the quarter. Sell-side analysts anticipate that First Financial Bancorp. will post 2.64 EPS for the current year.

First Financial Bancorp. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, December 1st. First Financial Bancorp.’s dividend payout ratio (DPR) is currently 37.04%.

About First Financial Bancorp.

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.