Several analysts have recently updated their ratings and price targets for First Financial Bancorp (NASDAQ: FFBC):
- 10/12/2016 – First Financial Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $24.00 price target on the stock. According to Zacks, “First Financial Bancorp., is a financial holding company that engages in the business of commercial banking, and other permissible activities that are financial in nature, through seventeen wholly owned subsidiary institutions. Bancorp provides management and similar services for its subsidiary financial institutions. Bancorp must depend largely upon its seventeen subsidiaries for funds with which to pay the expenses of its operation and, to the extent applicable, any dividends on its outstanding shares of stock. “
- 10/11/2016 – First Financial Bancorp had its price target raised by analysts at Barclays PLC from $20.00 to $22.00. They now have an “underweight” rating on the stock.
- 10/6/2016 – First Financial Bancorp is now covered by analysts at Piper Jaffray Cos.. They set a “neutral” rating and a $23.00 price target on the stock.
- 10/6/2016 – First Financial Bancorp was downgraded by analysts at Raymond James Financial Inc. from an “outperform” rating to a “market perform” rating.
First Financial Bancorp (NASDAQ:FFBC) remained flat at $21.05 during trading on Friday. 139,322 shares of the stock were exchanged. The company has a market cap of $1.30 billion, a PE ratio of 16.19 and a beta of 1.19. First Financial Bancorp has a 1-year low of $13.76 and a 1-year high of $22.53. The firm has a 50-day moving average of $21.75 and a 200 day moving average of $20.23.
First Financial Bancorp (NASDAQ:FFBC) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company posted $0.31 EPS. Analysts predict that First Financial Bancorp will post $1.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 2nd were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Wednesday, August 31st. First Financial Bancorp’s dividend payout ratio (DPR) is currently 49.23%.
In related news, EVP Holly M. Foster sold 2,021 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $21.84, for a total transaction of $44,138.64. Following the transaction, the executive vice president now directly owns 4,979 shares of the company’s stock, valued at approximately $108,741.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Knapke Murph sold 15,000 shares of the company’s 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 directly owns 50,929 shares in the company, valued at $1,079,694.80. The disclosure for this sale can be found here. Corporate insiders own 2.19% of the company’s stock.
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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