First Financial Bancorp. (NASDAQ:FFBC) Upgraded to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) from a sell rating to a hold rating in a research report sent to investors on Sunday morning.

Other equities analysts have also issued research reports about the stock. Truist Financial assumed coverage on shares of First Financial Bancorp. in a research report on Tuesday, May 13th. They issued a "hold" rating and a $27.00 price target on the stock. Royal Bank Of Canada reissued a "sector perform" rating and set a $27.00 price objective on shares of First Financial Bancorp. in a report on Wednesday, June 25th. Stephens reaffirmed an "overweight" rating and issued a $29.00 price target on shares of First Financial Bancorp. in a research note on Friday, June 27th. Finally, Keefe, Bruyette & Woods increased their price target on First Financial Bancorp. from $30.00 to $32.00 and gave the company a "market perform" rating in a research note on Wednesday, June 25th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $28.75.

First Financial Bancorp. Price Performance

FFBC stock traded up $0.28 during trading on Friday, reaching $24.87. 101,465 shares of the company were exchanged, compared to its average volume of 412,882. First Financial Bancorp. has a 52-week low of $21.10 and a 52-week high of $31.18. The company has a market cap of $2.38 billion, a P/E ratio of 10.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.91 and a current ratio of 0.91. The stock's 50 day moving average price is $24.47 and its 200 day moving average price is $25.18.

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 for the quarter, hitting analysts' consensus estimates of $0.63. First Financial Bancorp. had a net margin of 18.65% and a return on equity of 10.44%. The company had revenue of $201.59 million for the quarter, compared to analysts' expectations of $214.80 million. During the same period in the prior year, the company earned $0.59 earnings per share. The firm's revenue was up 2.6% compared to the same quarter last year. As a group, analysts predict that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were issued a dividend of $0.24 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 3.86%. First Financial Bancorp.'s dividend payout ratio (DPR) is 39.83%.

Hedge Funds Weigh In On First Financial Bancorp.

Large investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of First Financial Bancorp. by 43.9% during the first quarter. GAMMA Investing LLC now owns 1,522 shares of the bank's stock valued at $38,000 after purchasing an additional 464 shares in the last quarter. CWM LLC increased its position in First Financial Bancorp. by 24.4% during the first quarter. CWM LLC now owns 2,201 shares of the bank's stock valued at $55,000 after acquiring an additional 432 shares during the last quarter. Quarry LP increased its position in First Financial Bancorp. by 68.9% during the fourth quarter. Quarry LP now owns 2,502 shares of the bank's stock valued at $67,000 after acquiring an additional 1,021 shares during the last quarter. Federated Hermes Inc. purchased a new stake in First Financial Bancorp. in the first quarter worth about $78,000. Finally, Sterling Capital Management LLC grew its position in shares of First Financial Bancorp. by 807.3% during the fourth quarter. Sterling Capital Management LLC now owns 2,976 shares of the bank's stock worth $80,000 after purchasing an additional 2,648 shares in the last quarter. 77.23% of the stock is owned by hedge funds and other institutional investors.

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.