First Financial Bancorp (FFBC) Upgraded at FIG Partners

First Financial Bancorp (NASDAQ:FFBC) was upgraded by equities research analysts at FIG Partners from a “market perform” rating to an “outperform” rating in a research note issued on Friday. The firm currently has a $31.00 price target on the bank’s stock. FIG Partners’ target price suggests a potential upside of 11.51% from the company’s current price.

A number of other brokerages have also recently weighed in on FFBC. Barclays lifted their price target on shares of First Financial Bancorp from $25.00 to $27.00 and gave the stock an “underweight” rating in a research report on Monday, October 23rd. BidaskClub raised shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research raised shares of First Financial Bancorp from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, October 24th. Royal Bank of Canada reissued a “hold” rating and set a $28.00 price target on shares of First Financial Bancorp in a research report on Friday, October 20th. Finally, Hilliard Lyons raised shares of First Financial Bancorp from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. First Financial Bancorp has a consensus rating of “Buy” and an average price target of $29.90.

Shares of First Financial Bancorp (FFBC) traded up $0.70 during mid-day trading on Friday, reaching $27.80. 407,602 shares of the company’s stock were exchanged, compared to its average volume of 343,537. First Financial Bancorp has a 1 year low of $22.80 and a 1 year high of $29.50. The company has a market capitalization of $1,681.83, a PE ratio of 17.38, a PEG ratio of 1.30 and a beta of 1.19. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.93.

First Financial Bancorp (NASDAQ:FFBC) last announced its quarterly earnings data on Thursday, January 18th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $94.00 million for the quarter, compared to analysts’ expectations of $90.05 million. First Financial Bancorp had a net margin of 26.11% and a return on equity of 11.51%. During the same period last year, the firm earned $0.38 earnings per share. analysts forecast that First Financial Bancorp will post 2.08 EPS for the current year.

Several large investors have recently modified their holdings of the stock. 1st Global Advisors Inc. raised its holdings in shares of First Financial Bancorp by 0.5% during the second quarter. 1st Global Advisors Inc. now owns 9,846 shares of the bank’s stock worth $273,000 after acquiring an additional 53 shares during the period. Amalgamated Bank raised its holdings in shares of First Financial Bancorp by 1.2% during the second quarter. Amalgamated Bank now owns 8,406 shares of the bank’s stock worth $233,000 after acquiring an additional 102 shares during the period. Stifel Financial Corp raised its holdings in shares of First Financial Bancorp by 0.5% during the second quarter. Stifel Financial Corp now owns 45,613 shares of the bank’s stock worth $1,264,000 after acquiring an additional 215 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of First Financial Bancorp by 6.9% during the second quarter. Ameritas Investment Partners Inc. now owns 5,410 shares of the bank’s stock worth $150,000 after acquiring an additional 349 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of First Financial Bancorp by 1.9% during the second quarter. Alliancebernstein L.P. now owns 79,472 shares of the bank’s stock worth $2,201,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

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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.

Analyst Recommendations for First Financial Bancorp (NASDAQ:FFBC)

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