First Financial Bancorp (NASDAQ:FFBC) Receives $20.90 Consensus Price Target from Brokerages
Shares of First Financial Bancorp (NASDAQ:FFBC) have been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $20.90.
Several research analysts recently commented on the stock. Zacks Investment Research raised shares of First Financial Bancorp from a “sell” rating to a “hold” rating and set a $24.00 price objective for the company in a report on Monday, July 25th. Keefe, Bruyette & Woods raised their price objective on shares of First Financial Bancorp from $19.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, July 25th. Hilliard Lyons downgraded shares of First Financial Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, July 25th. Barclays PLC raised their price objective on shares of First Financial Bancorp from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Monday, July 25th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $21.00 price objective on shares of First Financial Bancorp in a report on Thursday, July 7th.
In other First Financial Bancorp news, COO Anthony M. Stollings sold 13,081 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $21.11, for a total value of $276,139.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Knapke Murph sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $21.20, for a total transaction of $318,000.00. Following the completion of the transaction, the director now directly owns 50,929 shares of the company’s stock, valued at $1,079,694.80. The disclosure for this sale can be found here. 2.19% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. increased its position in shares of First Financial Bancorp by 30.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,616,200 shares of the company’s stock valued at $50,886,000 after buying an additional 617,425 shares during the last quarter. Norges Bank bought a new stake in First Financial Bancorp during the fourth quarter worth about $9,798,000. Vanguard Group Inc. increased its stake in First Financial Bancorp by 4.5% in the second quarter. Vanguard Group Inc. now owns 4,949,538 shares of the company’s stock worth $96,269,000 after buying an additional 213,416 shares in the last quarter. Ngam Advisors L.P. bought a new stake in First Financial Bancorp during the first quarter worth about $3,588,000. Finally, Emerald Acquisition Ltd. bought a new stake in First Financial Bancorp during the second quarter worth about $3,726,000. 72.70% of the stock is owned by hedge funds and other institutional investors.
Shares of First Financial Bancorp (NASDAQ:FFBC) opened at 21.82 on Monday. The firm has a 50 day moving average price of $21.75 and a 200 day moving average price of $20.00. The firm has a market cap of $1.35 billion, a P/E ratio of 16.78 and a beta of 1.25. First Financial Bancorp has a 1-year low of $13.76 and a 1-year high of $22.53.
First Financial Bancorp (NASDAQ:FFBC) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. First Financial Bancorp had a net margin of 22.23% and a return on equity of 9.82%. During the same period in the prior year, the firm posted $0.31 earnings per share. Analysts anticipate that First Financial Bancorp will post $1.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.93%. The ex-dividend date is Wednesday, August 31st. First Financial Bancorp’s payout ratio is 49.23%.
About First Financial Bancorp
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.
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