First Financial Bancorp. (NASDAQ:FFBC) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately positive: Eight analysts give First Financial Bancorp. a consensus “Moderate Buy” rating, split evenly between buy and hold recommendations. The average 12-month price target is $33.67, versus a recent share price of $32.82.
• Quarterly results exceeded earnings expectations: The bank reported earnings of $0.80 per share, ahead of the $0.78 consensus estimate, while revenue increased 16.7% year over year to $264.17 million.
• The dividend was raised: First Financial increased its quarterly dividend from $0.25 to $0.26 per share, equivalent to an annualized $1.04 payout and an approximately 3.2% yield.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) has earned an average rating of "Moderate Buy" from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Four investment 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 issued ratings on the stock in the last year is $33.6667.

A number of equities analysts have recently weighed in on the company. Raymond James Financial boosted their price target on First Financial Bancorp. from $34.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Wall Street Zen lowered First Financial Bancorp. from a "buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Truist Financial lifted their price objective on First Financial Bancorp. from $33.00 to $35.00 and gave the stock a "hold" rating in a research report on Friday, July 10th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of First Financial Bancorp. in a research note on Monday, June 8th.

Insider Activity at First Financial Bancorp.

In other First Financial Bancorp. news, CEO Archie M. Brown sold 10,000 shares of First Financial Bancorp. stock in a transaction on Monday, June 8th. The shares were sold at an average price of $30.93, for a total value of $309,300.00. Following the transaction, the chief executive officer owned 243,758 shares in the company, valued at $7,539,434.94. This trade represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James M. Anderson sold 4,000 shares of First Financial Bancorp. stock in a transaction on Friday, July 31st. The shares were sold at an average price of $33.73, for a total value of $134,920.00. Following the completion of the transaction, the chief financial officer owned 114,537 shares in the company, valued at $3,863,333.01. The trade was a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 32,788 shares of company stock valued at $1,063,656 over the last three months. Insiders own 1.08% of the company's stock.

Institutional Trading of First Financial Bancorp.

Hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its position in shares of First Financial Bancorp. by 137.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 991 shares of the bank's stock worth $25,000 after acquiring an additional 574 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of First Financial Bancorp. by 38.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,743 shares of the bank's stock worth $44,000 after acquiring an additional 486 shares in the last quarter. Smithfield Trust Co purchased a new position in First Financial Bancorp. in the fourth quarter valued at about $50,000. Nykredit A S acquired a new stake in First Financial Bancorp. during the 2nd quarter valued at approximately $55,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in First Financial Bancorp. during the 2nd quarter valued at approximately $57,000. Hedge funds and other institutional investors own 77.23% of the company's stock.

First Financial Bancorp. Trading Up 0.3%

Shares of FFBC opened at $32.82 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $33.90 and a 200-day simple moving average of $31.02. First Financial Bancorp. has a 1-year low of $23.06 and a 1-year high of $36.24. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 11.60 and a beta of 0.92.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The bank reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. The firm had revenue of $264.17 million for the quarter, compared to analyst estimates of $270.29 million. First Financial Bancorp. had a return on equity of 11.13% and a net margin of 20.77%.First Financial Bancorp.'s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. Equities analysts forecast that First Financial Bancorp. will post 3.22 EPS for the current fiscal year.

First Financial Bancorp. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from First Financial Bancorp.'s previous quarterly dividend of $0.25. First Financial Bancorp.'s dividend payout ratio is 36.75%.

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.

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