First Financial Bancorp (FFBC) Upgraded at Zacks Investment Research

First Financial Bancorp (NASDAQ:FFBC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $30.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 11.11% from the company’s previous close.

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. “

FFBC has been the topic of a number of other reports. DA Davidson assumed coverage on shares of First Financial Bancorp in a report on Thursday, March 23rd. They issued a “buy” rating and a $30.00 price target on the stock. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $27.00 price target on shares of First Financial Bancorp in a report on Monday. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $26.17.

Analyst Recommendations for First Financial Bancorp (NASDAQ:FFBC)

First Financial Bancorp (NASDAQ:FFBC) traded up 1.12% during trading on Tuesday, reaching $27.00. 149,617 shares of the company’s stock traded hands. The company’s 50 day moving average is $27.53 and its 200-day moving average is $26.06. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 18.88 and a beta of 1.18. First Financial Bancorp has a 52-week low of $16.93 and a 52-week high of $29.80.

First Financial Bancorp (NASDAQ:FFBC) last issued its quarterly earnings results on Thursday, January 19th. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. First Financial Bancorp had a net margin of 23.57% and a return on equity of 10.42%. During the same period in the prior year, the company posted $0.33 EPS. On average, analysts anticipate that First Financial Bancorp will post $1.54 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Thursday, March 2nd were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, February 28th. This is an increase from First Financial Bancorp’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 2.52%. First Financial Bancorp’s dividend payout ratio is 44.76%.

TRADEMARK VIOLATION NOTICE: This report was reported by Ticker Report and is owned by of Ticker Report. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.tickerreport.com/banking-finance/2468417/first-financial-bancorp-ffbc-upgraded-at-zacks-investment-research.html.

A number of large investors have recently added to or reduced their stakes in FFBC. Lincoln National Corp increased its stake in First Financial Bancorp by 0.9% in the third quarter. Lincoln National Corp now owns 10,354 shares of the company’s stock valued at $226,000 after buying an additional 89 shares during the period. 1st Global Advisors Inc. increased its stake in First Financial Bancorp by 0.7% in the third quarter. 1st Global Advisors Inc. now owns 11,253 shares of the company’s stock valued at $246,000 after buying an additional 83 shares during the period. SG Americas Securities LLC increased its stake in First Financial Bancorp by 41.5% in the third quarter. SG Americas Securities LLC now owns 12,488 shares of the company’s stock valued at $273,000 after buying an additional 3,663 shares during the period. Bbva Compass Bancshares Inc. acquired a new stake in First Financial Bancorp during the third quarter valued at approximately $285,000. Finally, Miles Capital Inc. increased its stake in First Financial Bancorp by 7.0% in the fourth quarter. Miles Capital Inc. now owns 10,108 shares of the company’s stock valued at $288,000 after buying an additional 663 shares during the period. 73.20% of the stock is currently owned by institutional investors and hedge funds.

About First Financial Bancorp

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.

5 Day Chart for NASDAQ:FFBC

Get a free copy of the Zacks research report on First Financial Bancorp (FFBC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for First Financial Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Blackberry Returns as Stock Surges Following WannaCry
Blackberry Returns as Stock Surges Following WannaCry
Flight Attendants Accuse Frontier Airlines of Not Allowing Breast Feeding
Flight Attendants Accuse Frontier Airlines of Not Allowing Breast Feeding
General Motors’ Maven Launches in New York City
General Motors’ Maven Launches in New York City
Hyundai and Kia Recall Ordered by South Korea Officials
Hyundai and Kia Recall Ordered by South Korea Officials
Spirit Airlines Cancellations Cause Chaos in Airport
Spirit Airlines Cancellations Cause Chaos in Airport
FDA Approves New Treatment for ALS
FDA Approves New Treatment for ALS


© 2006-2017 Ticker Report. Google+.