First Financial Bancorp. (FFBC) – What Are Investment Firms Saying About This Stock?

Shares of First Financial Bancorp. (NASDAQ:FFBC) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $34.00.

A number of equities analysts have weighed in on FFBC shares. Wall Street Zen lowered First Financial Bancorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Truist Financial raised shares of First Financial Bancorp. from a “hold” rating to a “buy” rating and raised their price target for the company from $35.00 to $37.00 in a report on Thursday, September 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Financial Bancorp. in a report on Friday, September 4th. Finally, Raymond James Financial lifted their price target on shares of First Financial Bancorp. from $34.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st.

Insider Activity at First Financial Bancorp.

In related news, CFO James M. Anderson sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $33.73, for a total value of $134,920.00. Following the sale, the chief financial officer owned 114,537 shares in the company, valued at approximately $3,863,333.01. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott T. Crawley sold 2,700 shares of First Financial Bancorp. stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $34.16, for a total transaction of $92,232.00. Following the completion of the sale, the insider directly owned 22,711 shares of the company’s stock, valued at approximately $775,807.76. This trade represents a 10.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,788 shares of company stock worth $919,006 in the last three months. 1.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Financial Bancorp.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Counterpoint Mutual Funds LLC purchased a new position in shares of First Financial Bancorp. in the 3rd quarter worth $606,000. USA Financial Formulas bought a new stake in shares of First Financial Bancorp. in the third quarter worth $39,000. Daytona Street Capital LLC bought a new stake in shares of First Financial Bancorp. in the third quarter worth $61,000. Saxony Capital Management LLC increased its position in First Financial Bancorp. by 65.1% during the third quarter. Saxony Capital Management LLC now owns 30,433 shares of the bank’s stock valued at $953,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Mather Group LLC. purchased a new stake in First Financial Bancorp. during the third quarter valued at $77,000. 77.23% of the stock is owned by institutional investors.

First Financial Bancorp. Stock Performance

Shares of FFBC opened at $31.48 on Friday. The business’s fifty day simple moving average is $32.34 and its two-hundred day simple moving average is $31.87. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. First Financial Bancorp. has a 12 month low of $23.06 and a 12 month high of $36.24. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 11.12 and a beta of 0.93.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings data on Tuesday, July 21st. The bank reported $0.80 EPS for the quarter, beating the consensus estimate of $0.78 by $0.02. First Financial Bancorp. had a return on equity of 11.13% and a net margin of 20.77%. The company had revenue of $264.17 million for the quarter, compared to analysts’ expectations of $270.29 million. During the same period last year, the firm posted $0.74 earnings per share. First Financial Bancorp.’s revenue was up 16.7% compared to the same quarter last year. Research analysts anticipate that First Financial Bancorp. will post 3.18 earnings per share for the current fiscal year.

First Financial Bancorp. Company Profile

First Financial Bancorp. is a bank holding company headquartered in Cincinnati, Ohio. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to businesses, individuals and institutions.

First Financial Bank offers commercial and consumer lending, deposit accounts, treasury management, cash-management services and mortgage banking. Its services also include wealth management, investment management, trust and estate administration, and other financial solutions designed for businesses, municipalities, nonprofit organizations and individual customers.

The company serves communities across Ohio, Indiana and Kentucky through a network of banking offices and digital banking channels.