First Financial Bancorp (NASDAQ:FFBC) has been given an average recommendation of “Hold” by the eleven brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $31.80.
Several brokerages have weighed in on FFBC. Sandler O’Neill lowered shares of First Financial Bancorp from a “buy” rating to a “hold” rating and set a $30.00 target price for the company. in a research note on Thursday, November 29th. BidaskClub raised shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Zacks Investment Research lowered shares of First Financial Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. Barclays lowered their target price on shares of First Financial Bancorp from $31.00 to $29.00 and set an “underweight” rating for the company in a research note on Monday, October 22nd. Finally, Keefe, Bruyette & Woods raised shares of First Financial Bancorp from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $34.00 to $32.00 in a research note on Sunday, October 21st.
Shares of FFBC traded down $1.95 during mid-day trading on Friday, reaching $25.71. The stock had a trading volume of 371,954 shares, compared to its average volume of 261,503. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.86. First Financial Bancorp has a 52-week low of $24.05 and a 52-week high of $33.70. The firm has a market capitalization of $2.73 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.23 and a beta of 1.15.
First Financial Bancorp (NASDAQ:FFBC) last announced its quarterly earnings data on Thursday, October 18th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.01. The firm had revenue of $152.80 million during the quarter, compared to analyst estimates of $151.74 million. First Financial Bancorp had a net margin of 25.08% and a return on equity of 11.70%. First Financial Bancorp’s quarterly revenue was up 63.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Equities research analysts predict that First Financial Bancorp will post 2.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.11%. First Financial Bancorp’s dividend payout ratio is presently 49.69%.
Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in shares of First Financial Bancorp during the second quarter worth about $1,113,000. First Mercantile Trust Co. acquired a new stake in shares of First Financial Bancorp during the second quarter worth about $105,000. Envestnet Asset Management Inc. lifted its position in shares of First Financial Bancorp by 597.3% during the second quarter. Envestnet Asset Management Inc. now owns 4,567 shares of the bank’s stock worth $140,000 after purchasing an additional 3,912 shares in the last quarter. Neuburgh Advisers LLC acquired a new stake in shares of First Financial Bancorp during the second quarter worth about $146,000. Finally, Riverhead Capital Management LLC acquired a new stake in shares of First Financial Bancorp during the second quarter worth about $159,000. 73.82% of the stock is currently owned by institutional investors and hedge funds.
First Financial Bancorp Company Profile
First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and other banking, and banking-related services to individuals and businesses in Ohio, Indiana, and Kentucky. 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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