Research Analysts’ Recent Ratings Changes for First Financial Bancorp. (FFBC)

Several analysts have recently updated their ratings and price targets for First Financial Bancorp. (NASDAQ: FFBC):

  • 4/20/2021 – First Financial Bancorp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $27.00 price target on the stock. According to Zacks, “First Financial Bancorp., is a financial holding company that engages in the business of commercial banking, and other permissible activities that are financial in nature, through seventeen wholly owned subsidiary institutions. Bancorp provides management and similar services for its subsidiary financial institutions. Bancorp must depend largely upon its seventeen subsidiaries for funds with which to pay the expenses of its operation and, to the extent applicable, any dividends on its outstanding shares of stock. “
  • 4/12/2021 – First Financial Bancorp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “First Financial Bancorp., is a financial holding company that engages in the business of commercial banking, and other permissible activities that are financial in nature, through seventeen wholly owned subsidiary institutions. Bancorp provides management and similar services for its subsidiary financial institutions. Bancorp must depend largely upon its seventeen subsidiaries for funds with which to pay the expenses of its operation and, to the extent applicable, any dividends on its outstanding shares of stock. “
  • 4/8/2021 – First Financial Bancorp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $27.00 price target on the stock. According to Zacks, “First Financial Bancorp., is a financial holding company that engages in the business of commercial banking, and other permissible activities that are financial in nature, through seventeen wholly owned subsidiary institutions. Bancorp provides management and similar services for its subsidiary financial institutions. Bancorp must depend largely upon its seventeen subsidiaries for funds with which to pay the expenses of its operation and, to the extent applicable, any dividends on its outstanding shares of stock. “
  • 4/6/2021 – First Financial Bancorp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “First Financial Bancorp., is a financial holding company that engages in the business of commercial banking, and other permissible activities that are financial in nature, through seventeen wholly owned subsidiary institutions. Bancorp provides management and similar services for its subsidiary financial institutions. Bancorp must depend largely upon its seventeen subsidiaries for funds with which to pay the expenses of its operation and, to the extent applicable, any dividends on its outstanding shares of stock. “
  • 3/9/2021 – First Financial Bancorp. had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $23.00 price target on the stock, up previously from $22.00.
  • 3/3/2021 – First Financial Bancorp. was downgraded by analysts at Piper Sandler from an “overweight” rating to a “neutral” rating. They now have a $23.00 price target on the stock, up previously from $22.00.

Shares of FFBC traded down $0.34 during mid-day trading on Thursday, hitting $23.64. 23,791 shares of the company’s stock were exchanged, compared to its average volume of 408,892. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $24.47 and its two-hundred day moving average is $19.42. First Financial Bancorp. has a fifty-two week low of $10.83 and a fifty-two week high of $26.62. The firm has a market capitalization of $2.31 billion, a P/E ratio of 14.96 and a beta of 1.24.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings data on Wednesday, January 27th. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. First Financial Bancorp. had a net margin of 22.09% and a return on equity of 7.42%. The business had revenue of $181.60 million during the quarter, compared to analyst estimates of $160.45 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. On average, equities research analysts forecast that First Financial Bancorp. will post 1.63 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, March 1st were paid a dividend of $0.23 per share. The ex-dividend date was Friday, February 26th. This represents a $0.92 annualized dividend and a dividend yield of 3.89%. First Financial Bancorp.’s dividend payout ratio is presently 42.99%.

In other news, Chairman Claude E. Davis sold 41,185 shares of the firm’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $21.70, for a total value of $893,714.50. Following the transaction, the chairman now owns 241,220 shares of the company’s stock, valued at approximately $5,234,474. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Claude E. Davis sold 16,037 shares of First Financial Bancorp. stock in a transaction on Friday, February 12th. The shares were sold at an average price of $21.54, for a total transaction of $345,436.98. Following the transaction, the chairman now owns 282,405 shares in the company, valued at approximately $6,083,003.70. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Large investors have recently modified their holdings of the business. Captrust Financial Advisors acquired a new position in shares of First Financial Bancorp. during the fourth quarter worth $26,000. Global Retirement Partners LLC lifted its position in shares of First Financial Bancorp. by 462.0% during the fourth quarter. Global Retirement Partners LLC now owns 1,686 shares of the bank’s stock worth $30,000 after purchasing an additional 1,386 shares during the last quarter. Toronto Dominion Bank bought a new stake in First Financial Bancorp. in the fourth quarter valued at about $33,000. MCF Advisors LLC bought a new stake in First Financial Bancorp. in the fourth quarter valued at about $62,000. Finally, Veriti Management LLC acquired a new stake in First Financial Bancorp. during the fourth quarter valued at approximately $88,000. 72.72% of the stock is owned by institutional investors.

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 accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers.

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