First Financial Bancorp. (FFBC) Price Target Increased to $30.00 by Analysts at Barclays

First Financial Bancorp. (NASDAQ:FFBC) had its target price raised by Barclays from $27.00 to $30.00 in a report published on Tuesday morning. Barclays currently has an underweight rating on the bank’s stock.

A number of other analysts also recently issued reports on FFBC. Zacks Investment Research downgraded shares of First Financial Bancorp. from a hold rating to a sell rating in a report on Tuesday, October 3rd. BidaskClub downgraded shares of First Financial Bancorp. from a buy rating to a hold rating in a report on Saturday, December 16th. Piper Jaffray Companies set a $28.00 price objective on shares of First Financial Bancorp. and gave the stock a hold rating in a report on Friday, October 6th. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $28.00 price objective on shares of First Financial Bancorp. in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $29.38.

Shares of First Financial Bancorp. (NASDAQ FFBC) traded up $0.30 during trading hours on Tuesday, reaching $26.70. 352,250 shares of the company’s stock traded hands, compared to its average volume of 406,850. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.93 and a current ratio of 0.93. First Financial Bancorp. has a 1 year low of $22.80 and a 1 year high of $29.40. The company has a market cap of $1,635.28, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.02. First Financial Bancorp. had a net margin of 26.49% and a return on equity of 11.22%. The firm had revenue of $83.95 million during the quarter, compared to the consensus estimate of $88.30 million. During the same period last year, the firm earned $0.37 EPS. sell-side analysts forecast that First Financial Bancorp. will post 1.56 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, November 30th. First Financial Bancorp.’s dividend payout ratio is currently 43.04%.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in First Financial Bancorp. by 0.8% in the second quarter. Vanguard Group Inc. now owns 5,714,986 shares of the bank’s stock worth $158,306,000 after purchasing an additional 43,459 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in First Financial Bancorp. by 2.9% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,177,150 shares of the bank’s stock worth $83,082,000 after purchasing an additional 90,575 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in First Financial Bancorp. by 1.0% in the third quarter. Dimensional Fund Advisors LP now owns 3,144,757 shares of the bank’s stock worth $82,236,000 after purchasing an additional 30,068 shares during the last quarter. Macquarie Group Ltd. lifted its stake in First Financial Bancorp. by 8.9% in the third quarter. Macquarie Group Ltd. now owns 2,770,582 shares of the bank’s stock worth $72,451,000 after purchasing an additional 226,144 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in First Financial Bancorp. by 4.2% in the second quarter. JPMorgan Chase & Co. now owns 2,615,610 shares of the bank’s stock worth $72,453,000 after purchasing an additional 106,493 shares during the last quarter. 77.87% of the stock is owned by institutional investors and hedge funds.

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First Financial Bancorp. Company Profile

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.

Analyst Recommendations for First Financial Bancorp. (NASDAQ:FFBC)

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