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

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) had its price objective decreased by equities researchers at Royal Bank of Canada from $30.00 to $27.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the bank's stock. Royal Bank of Canada's price objective indicates a potential upside of 18.56% from the company's previous close.

Other equities research analysts also recently issued research reports about the company. Keefe, Bruyette & Woods cut 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. Stephens reissued an "overweight" rating and issued a $33.00 price target on shares of First Financial Bancorp. in a report on Friday, January 24th.

First Financial Bancorp. Stock Down 0.7 %

FFBC traded down $0.16 during trading on Monday, reaching $22.77. 88,742 shares of the stock were exchanged, compared to its average volume of 417,564. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90. The stock's 50 day moving average price is $24.54 and its two-hundred day moving average price is $26.58. First Financial Bancorp. has a twelve month low of $20.59 and a twelve month high of $31.18. The stock has a market cap of $2.17 billion, a P/E ratio of 9.49 and a beta of 0.85.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $0.63 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.63. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. The company had revenue of $201.59 million for the quarter, compared to analysts' expectations of $214.80 million. Equities analysts expect that First Financial Bancorp. will post 2.64 EPS for the current year.

Insiders Place Their Bets

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 completion of the sale, the insider now directly owns 11,141 shares in the company, valued at approximately $277,633.72. This represents a 40.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.04% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in shares of First Financial Bancorp. during the 4th quarter worth approximately $8,961,000. First Trust Advisors LP lifted 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 last quarter. Norges Bank acquired a new stake in shares of First Financial Bancorp. in the 4th quarter valued at $7,827,000. Nuveen Asset Management LLC boosted its holdings in shares of First Financial Bancorp. by 65.2% in the 4th 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 in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of First Financial Bancorp. by 713.5% in the 4th quarter. Hsbc Holdings PLC now owns 265,843 shares of the bank's stock valued at $7,149,000 after purchasing an additional 233,163 shares during the last quarter. Institutional investors and hedge funds own 77.23% of the company's stock.

First Financial Bancorp. Company Profile

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.

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