First Financial Bancorp. (NASDAQ:FFBC) Given Consensus Rating of “Moderate Buy” by Analysts

First Financial Bancorp. (NASDAQ:FFBC) has been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $33.6667.

Several research analysts have recently weighed in on FFBC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Financial Bancorp. in a research note on Monday, June 8th. Wall Street Zen lowered shares of First Financial Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, June 30th. Royal Bank Of Canada upped their price objective on shares of First Financial Bancorp. from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Monday, April 27th. Raymond James Financial increased their price objective on shares of First Financial Bancorp. from $34.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, Truist Financial lifted their target price on shares of First Financial Bancorp. from $33.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, July 10th.

First Financial Bancorp. Stock Performance

NASDAQ FFBC opened at $34.14 on Tuesday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 12.06 and a beta of 0.92. First Financial Bancorp. has a twelve month low of $23.06 and a twelve month high of $36.24. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $32.98 and a 200 day moving average of $30.29.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $270.29 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. First Financial Bancorp.’s revenue for the quarter was up 16.7% on a year-over-year basis. Sell-side analysts anticipate that First Financial Bancorp. will post 3.22 EPS for the current fiscal year.

First Financial Bancorp. Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.26 per share. This is a boost from First Financial Bancorp.’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, September 1st. This represents a $1.04 annualized dividend and a dividend yield of 3.0%. First Financial Bancorp.’s payout ratio is currently 35.34%.

Insider Activity at First Financial Bancorp.

In related news, CEO Archie M. Brown sold 10,000 shares of First Financial Bancorp. stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $30.93, for a total value of $309,300.00. Following the sale, the chief executive officer directly owned 243,758 shares in the company, valued at approximately $7,539,434.94. The trade was a 3.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Scott T. Crawley sold 2,700 shares of First Financial Bancorp. stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $34.16, for a total value of $92,232.00. Following the completion of the sale, the insider owned 22,711 shares in the company, valued at approximately $775,807.76. The trade was a 10.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 17,440 shares of company stock valued at $559,318. 1.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its holdings in First Financial Bancorp. by 137.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 991 shares of the bank’s stock valued at $25,000 after purchasing an additional 574 shares in the last quarter. First Horizon Corp grew its holdings in shares of First Financial Bancorp. by 56.0% during the fourth quarter. First Horizon Corp now owns 1,526 shares of the bank’s stock worth $38,000 after buying an additional 548 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of First Financial Bancorp. by 38.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,743 shares of the bank’s stock worth $44,000 after buying an additional 486 shares in the last quarter. Smithfield Trust Co purchased a new stake in shares of First Financial Bancorp. during the fourth quarter worth $50,000. Finally, TD Private Client Wealth LLC raised its position in shares of First Financial Bancorp. by 14.2% in the fourth quarter. TD Private Client Wealth LLC now owns 3,309 shares of the bank’s stock valued at $83,000 after buying an additional 412 shares during the last quarter. 77.23% of the stock is owned by institutional investors and hedge funds.

First Financial Bancorp. Company Profile

First Financial Bancorp (NASDAQ: FFBC) is a bank holding company headquartered in Cincinnati, Ohio, and the parent of First Financial Bank. The company provides a comprehensive suite of commercial and consumer banking services through a network of more than 100 full-service banking centers and mortgage offices across Ohio, Indiana and Kentucky. Its core mission centers on delivering personalized relationship banking to businesses, individuals and public sector clients.

First Financial Bank’s product portfolio includes deposit solutions such as checking, savings and money market accounts, alongside a range of lending offerings that cover commercial and industrial loans, real estate and construction financing, home mortgages and home equity lines of credit.