First Financial Bancorp. (NASDAQ:FFBC) Stock Has Consensus Price Target of $34.33

Shares of First Financial Bancorp. (NASDAQ:FFBC) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $34.33.

A number of equities analysts have issued reports on FFBC shares. Truist Financial increased their target price on First Financial Bancorp. from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. Weiss Ratings restated a “buy (b)” rating on shares of First Financial Bancorp. in a report on Friday, September 4th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $37.00 price objective on shares of First Financial Bancorp. in a research report on Thursday, October 29th.

First Financial Bancorp. Trading Down 0.5%

Shares of NASDAQ:FFBC opened at $32.71 on Thursday. First Financial Bancorp. has a 12 month low of $23.16 and a 12 month high of $36.24. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.33. The company’s fifty day simple moving average is $32.07 and its 200 day simple moving average is $31.19. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 11.48 and a beta of 0.95.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings data on Tuesday, October 27th. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.82 by $0.02. The business had revenue of $273.91 million for the quarter, compared to analysts’ expectations of $270.97 million. First Financial Bancorp. had a net margin of 20.80% and a return on equity of 11.44%. During the same period in the previous year, the firm posted $0.76 EPS. As a group, research analysts forecast that First Financial Bancorp. will post 3.25 EPS for the current fiscal year.

First Financial Bancorp. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, December 1st. First Financial Bancorp.’s dividend payout ratio (DPR) is currently 36.49%.

Insider Buying and Selling

In other First Financial Bancorp. news, CEO Archie Brown sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $32.93, for a total value of $164,650.00. Following the sale, the chief executive officer owned 238,758 shares in the company, valued at approximately $7,862,300.94. The trade was a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas O’Brien sold 16,088 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $32.77, for a total value of $527,203.76. Following the transaction, the director directly owned 30,392 shares of the company’s stock, valued at approximately $995,945.84. This trade represents a 34.61% decrease in their position. The SEC filing for this sale provides additional information. 1.08% of the stock is currently owned by company insiders.

Institutional Trading of First Financial Bancorp.

A number of hedge funds and other institutional investors have recently made changes to their positions in FFBC. Root Financial Partners LLC bought a new stake in shares of First Financial Bancorp. in the third quarter worth $26,000. Rockefeller Capital Management L.P. boosted its holdings in First Financial Bancorp. by 137.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 991 shares of the bank’s stock worth $25,000 after purchasing an additional 574 shares during the last quarter. USA Financial Formulas acquired a new position in First Financial Bancorp. during the third quarter worth $39,000. Integrated Wealth Concepts LLC acquired a new position in First Financial Bancorp. during the second quarter worth $47,000. Finally, Nykredit A S bought a new position in First Financial Bancorp. in the second quarter valued at $55,000. 77.23% of the stock is currently owned by institutional investors and hedge funds.

About First Financial Bancorp.

First Financial Bancorp. is a Cincinnati-based bank holding company and the parent of First Financial Bank. Its banking roots date to 1863, when the institution that became First Financial Bank was established in Hamilton, Ohio. Through First Financial Bank, the company provides commercial and consumer banking services, including business lending, deposit accounts, residential and personal lending, treasury management, and wealth management. It serves individuals, businesses, and organizations across Ohio, Indiana, Kentucky, and Illinois.