First Financial Bancorp. (NASDAQ:FFBC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of First Financial Bancorp. (NASDAQ:FFBC) have been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $33.00.

A number of brokerages have issued reports on FFBC. Wall Street Zen cut First Financial Bancorp. from a “buy” rating to a “hold” rating in a report on Sunday. Stephens initiated coverage on shares of First Financial Bancorp. in a research report on Friday, March 27th. They set an “overweight” rating and a $33.00 target price for the company. Truist Financial lifted their price target on shares of First Financial Bancorp. from $30.00 to $33.00 and gave the company a “hold” rating in a report on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of First Financial Bancorp. in a research report on Monday, June 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $34.00 price objective on shares of First Financial Bancorp. in a research note on Monday, April 27th.

First Financial Bancorp. Stock Performance

FFBC stock opened at $32.30 on Monday. First Financial Bancorp. has a 1-year low of $22.93 and a 1-year high of $32.31. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $30.11 and its 200-day moving average is $28.27. The firm has a market cap of $3.39 billion, a P/E ratio of 11.41 and a beta of 0.93.

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. First Financial Bancorp.’s dividend payout ratio is 35.34%.

Insider Activity at First Financial Bancorp.

In other news, CEO Archie M. Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $30.93, for a total transaction of $309,300.00. Following the transaction, the chief executive officer directly owned 243,758 shares in the company, valued at approximately $7,539,434.94. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James M. Anderson sold 4,263 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $30.00, for a total value of $127,890.00. Following the transaction, the chief financial officer directly owned 118,537 shares in the company, valued at approximately $3,556,110. This represents a 3.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,126 shares of company stock valued at $1,255,501 in the last three months. Corporate insiders own 1.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its position in shares of First Financial Bancorp. by 137.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 991 shares of the bank’s stock worth $25,000 after buying an additional 574 shares during the period. First Horizon Corp lifted its holdings in First Financial Bancorp. by 56.0% in the fourth quarter. First Horizon Corp now owns 1,526 shares of the bank’s stock valued at $38,000 after buying an additional 548 shares during the period. MAI Capital Management boosted its stake in First Financial Bancorp. by 530.6% in the third quarter. MAI Capital Management now owns 1,545 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,300 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in First Financial Bancorp. by 38.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,743 shares of the bank’s stock valued at $44,000 after acquiring an additional 486 shares during the last quarter. Finally, Smithfield Trust Co acquired a new stake in First Financial Bancorp. during the 4th quarter worth $50,000. 77.23% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bancorp. Company Profile

First Financial Bancorp (NASDAQ: FFBC) is a bank holding company headquartered in Cincinnati, Ohio, and the parent of First Financial Bank. The company provides a comprehensive suite of commercial and consumer banking services through a network of more than 100 full-service banking centers and mortgage offices across Ohio, Indiana and Kentucky. Its core mission centers on delivering personalized relationship banking to businesses, individuals and public sector clients.

First Financial Bank’s product portfolio includes deposit solutions such as checking, savings and money market accounts, alongside a range of lending offerings that cover commercial and industrial loans, real estate and construction financing, home mortgages and home equity lines of credit.