First Financial Bancorp. (NASDAQ:FFBC) had its target price lifted by equities research analysts at Barclays from $27.00 to $30.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has an “underweight” rating on the bank’s stock. Barclays’ price objective would suggest a potential upside of 12.36% from the stock’s current price.
A number of other brokerages have also recently issued reports on FFBC. Royal Bank of Canada reiterated a “hold” rating and issued a $28.00 target price on shares of First Financial Bancorp. in a report on Friday, September 8th. Zacks Investment Research upgraded First Financial Bancorp. from a “hold” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a report on Tuesday, October 24th. Piper Jaffray Companies set a $28.00 target price on First Financial Bancorp. and gave the stock a “hold” rating in a report on Friday, October 6th. Finally, BidaskClub cut First Financial Bancorp. from a “buy” rating to a “hold” rating in a report on Saturday, December 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. First Financial Bancorp. currently has an average rating of “Hold” and a consensus price target of $29.38.
First Financial Bancorp. (FFBC) traded up $0.30 during trading on Tuesday, hitting $26.70. The company’s stock had a trading volume of 352,200 shares, compared to its average volume of 406,850. The company has a market cap of $1,638.39, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. First Financial Bancorp. has a 52-week low of $22.80 and a 52-week high of $29.40. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.93 and a quick ratio of 0.93.
First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $83.95 million for the quarter, compared to analysts’ expectations of $88.30 million. First Financial Bancorp. had a return on equity of 11.22% and a net margin of 26.49%. During the same period in the prior year, the business earned $0.37 EPS. sell-side analysts expect that First Financial Bancorp. will post 1.56 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in FFBC. SG Americas Securities LLC purchased a new stake in First Financial Bancorp. in the 3rd quarter worth about $125,000. Ameritas Investment Partners Inc. increased its holdings in First Financial Bancorp. by 6.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,410 shares of the bank’s stock worth $150,000 after acquiring an additional 349 shares during the last quarter. FDx Advisors Inc. purchased a new stake in First Financial Bancorp. in the 3rd quarter worth about $205,000. Amalgamated Bank increased its holdings in First Financial Bancorp. by 1.2% in the 2nd quarter. Amalgamated Bank now owns 8,406 shares of the bank’s stock worth $233,000 after acquiring an additional 102 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in First Financial Bancorp. in the 3rd quarter worth about $250,000. 77.87% of the stock is owned by hedge funds and other institutional investors.
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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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