First Financial Bancorp. (FFBC) - What Are Analysts Thinking About This Stock?

Key Points

• Analyst sentiment is moderately positive: First Financial Bancorp. has a consensus “Moderate Buy” rating, with five analysts recommending a buy and two advising a hold. The average 12-month price target is $34.00, with recent targets ranging from $36 to $37.
• The bank’s latest quarterly results were mixed but slightly beat expectations on earnings, reporting $0.80 EPS versus $0.78 expected. Revenue of $264.17 million fell short of estimates, though it increased 16.7% year over year.
• Insiders sold shares worth approximately $919,000 over the past three months, while institutional investors own 77.23% of the stock. FFBC was trading at $31.48, below its $34.00 average analyst target.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $34.00.

Several equities analysts have commented on the company. Weiss Ratings reissued a "buy (b)" rating on shares of First Financial Bancorp. in a research report on Friday, September 4th. Raymond James Financial upped their target price on shares of First Financial Bancorp. from $34.00 to $36.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Wall Street Zen lowered shares of First Financial Bancorp. from a "buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Finally, Truist Financial upgraded shares of First Financial Bancorp. from a "hold" rating to a "buy" rating and increased their price target for the stock from $35.00 to $37.00 in a research note on Thursday, September 24th.

First Financial Bancorp. Trading Up 0.2%

NASDAQ FFBC opened at $31.48 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.32. First Financial Bancorp. has a twelve month low of $23.06 and a twelve month high of $36.24. The firm has a market capitalization of $3.30 billion, a PE ratio of 11.12 and a beta of 0.93. The stock's 50 day moving average is $32.34 and its 200 day moving average is $31.87.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The bank reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $264.17 million for the quarter, compared to analysts' expectations of $270.29 million. First Financial Bancorp. had a return on equity of 11.13% and a net margin of 20.77%. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. Research analysts forecast that First Financial Bancorp. will post 3.18 earnings per share for the current fiscal year.

Insider Buying and Selling at First Financial Bancorp.

In other First Financial Bancorp. news, CEO Archie Brown sold 5,000 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $32.93, for a total value of $164,650.00. Following the sale, the chief executive officer owned 238,758 shares in the company, valued at approximately $7,862,300.94. This represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas O'Brien sold 16,088 shares of the company's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $32.77, for a total transaction of $527,203.76. Following the completion of the sale, the director owned 30,392 shares in the company, valued at approximately $995,945.84. This trade represents a 34.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 27,788 shares of company stock worth $919,006. Insiders own 1.08% of the company's stock.

Institutional Investors Weigh In On First Financial Bancorp.

Several hedge funds have recently added to or reduced their stakes in FFBC. Counterpoint Mutual Funds LLC purchased a new position in shares of First Financial Bancorp. in the 3rd quarter worth about $606,000. USA Financial Formulas bought a new position in First Financial Bancorp. in the 3rd quarter worth about $39,000. Daytona Street Capital LLC bought a new position in First Financial Bancorp. in the 3rd quarter worth about $61,000. Saxony Capital Management LLC boosted its stake in First Financial Bancorp. by 65.1% in the 3rd quarter. Saxony Capital Management LLC now owns 30,433 shares of the bank's stock worth $953,000 after purchasing an additional 12,000 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in First Financial Bancorp. during the 3rd quarter valued at about $77,000. 77.23% of the stock is owned by institutional investors.

First Financial Bancorp. Company Profile

First Financial Bancorp. is a bank holding company headquartered in Cincinnati, Ohio. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to businesses, individuals and institutions.

First Financial Bank offers commercial and consumer lending, deposit accounts, treasury management, cash-management services and mortgage banking. Its services also include wealth management, investment management, trust and estate administration, and other financial solutions designed for businesses, municipalities, nonprofit organizations and individual customers.

The company serves communities across Ohio, Indiana and Kentucky through a network of banking offices and digital banking channels.

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