First Financial Bancorp. (NASDAQ:FFBC) Price Target Cut to $27.00 by Analysts at Royal Bank of Canada

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) had its target price lowered by research analysts at Royal Bank of Canada from $30.00 to $27.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "sector perform" rating on the bank's stock. Royal Bank of Canada's target price points to a potential upside of 12.50% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. Stephens reiterated an "overweight" rating and issued a $33.00 price objective on shares of First Financial Bancorp. in a research note on Friday, January 24th. Keefe, Bruyette & Woods lowered their price target on First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating for the company in a report on Monday, April 28th.

First Financial Bancorp. Trading Up 2.8 %

Shares of NASDAQ FFBC traded up $0.66 during midday trading on Monday, reaching $24.00. The company had a trading volume of 325,056 shares, compared to its average volume of 420,634. The firm's fifty day moving average price is $24.15 and its 200-day moving average price is $26.50. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. First Financial Bancorp. has a one year low of $20.59 and a one year high of $31.18. The stock has a market cap of $2.29 billion, a PE ratio of 10.00 and a beta of 0.94.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. The business had revenue of $201.59 million during the quarter, compared to analysts' expectations of $214.80 million. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. The business's revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. On average, equities research analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current year.

Insider Buying and Selling at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total transaction of $189,392.00. Following the transaction, the insider now directly owns 11,141 shares of the company's stock, valued at approximately $277,633.72. This represents a 40.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.04% of the company's stock.

Hedge Funds Weigh In On First Financial Bancorp.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in shares of First Financial Bancorp. during the 4th quarter worth approximately $8,961,000. First Trust Advisors LP raised its stake in First Financial Bancorp. by 38.3% during the fourth quarter. First Trust Advisors LP now owns 1,186,286 shares of the bank's stock worth $31,887,000 after purchasing an additional 328,788 shares during the period. Norges Bank purchased a new position in shares of First Financial Bancorp. during the 4th quarter worth $7,827,000. Nuveen Asset Management LLC boosted its stake in shares of First Financial Bancorp. by 65.2% in the fourth quarter. Nuveen Asset Management LLC now owns 669,409 shares of the bank's stock valued at $17,994,000 after purchasing an additional 264,083 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in First Financial Bancorp. by 713.5% in the fourth quarter. Hsbc Holdings PLC now owns 265,843 shares of the bank's stock valued at $7,149,000 after acquiring an additional 233,163 shares in the last quarter. 77.23% of the stock is owned by hedge funds and other institutional investors.

About First Financial Bancorp.

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.