First Financial Bancorp. (NASDAQ:FFBC) Price Target Raised to $32.00 at Keefe, Bruyette & Woods

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) had its price target upped by equities researchers at Keefe, Bruyette & Woods from $30.00 to $32.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 31.42% from the stock's previous close.

A number of other equities analysts have also weighed in on FFBC. Truist Financial started coverage on First Financial Bancorp. in a research note on Tuesday, May 13th. They issued a "hold" rating and a $27.00 price objective for the company. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $27.00 price objective on shares of First Financial Bancorp. in a research note on Wednesday.

First Financial Bancorp. Stock Performance

NASDAQ:FFBC traded down $0.20 during mid-day trading on Wednesday, hitting $24.35. 919,117 shares of the company traded hands, compared to its average volume of 420,479. The stock's fifty day moving average price is $23.95 and its 200-day moving average price is $25.45. First Financial Bancorp. has a one year low of $21.10 and a one year high of $31.18. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 10.10 and a beta of 0.97.

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 analysts' consensus estimates of $0.63. The firm had revenue of $201.59 million during the quarter, compared to analyst estimates of $214.80 million. First Financial Bancorp. had a return on equity of 10.44% and a net margin of 18.65%. The business's quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. Research analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Financial Bancorp.

A number of hedge funds have recently made changes to their positions in FFBC. Nuveen LLC purchased a new stake in shares of First Financial Bancorp. in the first quarter worth about $16,615,000. Raymond James Financial Inc. purchased a new stake in shares of First Financial Bancorp. in the fourth quarter worth about $8,961,000. First Trust Advisors LP lifted its position in shares of First Financial Bancorp. by 38.3% in the fourth quarter. First Trust Advisors LP now owns 1,186,286 shares of the bank's stock worth $31,887,000 after buying an additional 328,788 shares in the last quarter. Norges Bank purchased a new stake in shares of First Financial Bancorp. in the fourth quarter worth about $7,827,000. Finally, Nuveen Asset Management LLC lifted its position 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 worth $17,994,000 after buying an additional 264,083 shares in the last quarter. 77.23% of the stock is currently 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.