First Financial Bancorp. (NASDAQ:FFBC) Hits New 1-Year High at $26.78

First Financial Bancorp. (NASDAQ:FFBC)’s share price reached a new 52-week high on Friday . The stock traded as high as $26.78 and last traded at $26.68, with a volume of 1434 shares changing hands. The stock had previously closed at $26.48.

Several research firms recently weighed in on FFBC. Zacks Investment Research downgraded shares of First Financial Bancorp. from a “buy” rating to a “hold” rating in a report on Thursday, December 23rd. Royal Bank of Canada lifted their target price on shares of First Financial Bancorp. from $25.00 to $26.00 and gave the company a “sector perform” rating in a report on Monday, October 25th.

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.78 and a current ratio of 0.79. The company has a market cap of $2.51 billion, a PE ratio of 12.49 and a beta of 1.11. The company’s 50-day simple moving average is $24.66 and its 200 day simple moving average is $23.72.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings results on Wednesday, October 20th. The bank reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. First Financial Bancorp. had a net margin of 30.25% and a return on equity of 9.56%. The firm had revenue of $155.95 million during the quarter, compared to analysts’ expectations of $152.05 million. During the same period in the previous year, the company earned $0.44 earnings per share. Analysts forecast that First Financial Bancorp. will post 2.28 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Wednesday, December 1st were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, November 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.45%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 43.40%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC lifted its position in First Financial Bancorp. by 5.0% in the third quarter. Kestra Advisory Services LLC now owns 9,566 shares of the bank’s stock valued at $224,000 after acquiring an additional 455 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in First Financial Bancorp. by 1.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 30,641 shares of the bank’s stock valued at $747,000 after purchasing an additional 490 shares during the period. Profund Advisors LLC increased its stake in First Financial Bancorp. by 5.5% in the second quarter. Profund Advisors LLC now owns 13,231 shares of the bank’s stock valued at $313,000 after purchasing an additional 691 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of First Financial Bancorp. by 24.5% during the second quarter. O Shaughnessy Asset Management LLC now owns 4,105 shares of the bank’s stock worth $97,000 after acquiring an additional 807 shares during the period. Finally, CWM Advisors LLC increased its stake in shares of First Financial Bancorp. by 3.1% during the second quarter. CWM Advisors LLC now owns 28,974 shares of the bank’s stock worth $685,000 after acquiring an additional 878 shares during the period. 72.90% of the stock is owned by hedge funds and other institutional investors.

First Financial Bancorp. Company Profile (NASDAQ:FFBC)

First Financial Bancorp operates a bank holding company. The firm operates through its wholly owned subsidiary, First Financial Bank, which engages in the provision of commercial banking, financial and other related activities. It operates through the following business lines: Commercial, Retail Banking, Mortgage Banking, Wealth Management, Investment Commercial Real Estate, and Commercial Finance.

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