Piper Jaffray Cos. assumed coverage on shares of First Financial Bancorp (NASDAQ:FFBC) in a report published on Thursday morning. The brokerage issued a neutral rating and a $23.00 target price on the stock.
FFBC has been the subject of several other research reports. Zacks Investment Research raised First Financial Bancorp from a sell rating to a hold rating in a research note on Tuesday, July 12th. Hilliard Lyons lowered First Financial Bancorp from a buy rating to a neutral rating in a research report on Monday, July 25th. Barclays PLC upped their target price on First Financial Bancorp from $19.00 to $20.00 and gave the company an underweight rating in a research report on Monday, July 25th. Jefferies Group restated a hold rating and set a $21.00 target price on shares of First Financial Bancorp in a research report on Thursday, July 7th. Finally, Keefe, Bruyette & Woods upped their target price on First Financial Bancorp from $19.00 to $21.00 and gave the company a market perform rating in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $20.56.
First Financial Bancorp (NASDAQ:FFBC) traded down 0.56% on Thursday, hitting $21.27. The company’s stock had a trading volume of 44,679 shares. The stock has a market cap of $1.32 billion, a PE ratio of 16.36 and a beta of 1.19. The firm has a 50 day moving average of $21.78 and a 200-day moving average of $20.14. First Financial Bancorp has a 12 month low of $13.76 and a 12 month high of $22.53.
First Financial Bancorp (NASDAQ:FFBC) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. First Financial Bancorp had a return on equity of 9.82% and a net margin of 22.23%. During the same period in the previous year, the business earned $0.31 earnings per share. On average, analysts expect that First Financial Bancorp will post $1.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.64 annualized dividend and a yield of 2.99%. First Financial Bancorp’s payout ratio is currently 49.23%.
In other First Financial Bancorp news, Director Knapke Murph sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $21.20, for a total value of $318,000.00. Following the transaction, the director now owns 50,929 shares in the company, valued at $1,079,694.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Anthony M. Stollings sold 13,081 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $21.11, for a total value of $276,139.91. The disclosure for this sale can be found here. 2.19% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in FFBC. IFP Advisors Inc increased its stake in shares of First Financial Bancorp by 0.9% in the first quarter. IFP Advisors Inc now owns 5,529 shares of the company’s stock valued at $101,000 after buying an additional 49 shares during the period. PineBridge Investments L.P. increased its stake in shares of First Financial Bancorp by 4.2% in the second quarter. PineBridge Investments L.P. now owns 7,845 shares of the company’s stock valued at $153,000 after buying an additional 314 shares during the period. Teacher Retirement System of Texas increased its stake in shares of First Financial Bancorp by 11.1% in the second quarter. Teacher Retirement System of Texas now owns 8,615 shares of the company’s stock valued at $168,000 after buying an additional 864 shares during the period. Societe Generale bought a new stake in shares of First Financial Bancorp during the second quarter valued at approximately $172,000. Finally, SG Americas Securities LLC increased its stake in shares of First Financial Bancorp by 54.1% in the second quarter. SG Americas Securities LLC now owns 8,825 shares of the company’s stock valued at $172,000 after buying an additional 3,100 shares during the period. Institutional investors and hedge funds own 72.70% of the company’s stock.
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.
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