Keefe, Bruyette & Woods Issues Positive Forecast for First Financial Bancorp. (NASDAQ:FFBC) Stock Price

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) had its price target boosted by stock analysts at Keefe, Bruyette & Woods from $30.00 to $32.00 in a 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 suggest a potential upside of 32.86% from the company's current price.

Several other research analysts have also commented on the company. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $27.00 target price on shares of First Financial Bancorp. in a research report on Wednesday. Truist Financial assumed coverage on shares of First Financial Bancorp. in a research note on Tuesday, May 13th. They set a "hold" rating and a $27.00 target price for the company.

First Financial Bancorp. Stock Down 0.7%

FFBC traded down $0.18 during trading on Wednesday, hitting $24.09. The company had a trading volume of 35,187 shares, compared to its average volume of 415,013. First Financial Bancorp. has a 1-year low of $21.10 and a 1-year high of $31.18. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $2.31 billion, a PE ratio of 10.01 and a beta of 0.97. The business has a 50-day moving average of $23.85 and a 200-day moving average of $25.52.

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. The business had revenue of $201.59 million for the quarter, compared to analyst estimates of $214.80 million. First Financial Bancorp. had a net margin of 18.65% and a return on equity of 10.44%. The company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 EPS. As a group, analysts forecast that First Financial Bancorp. will post 2.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in First Financial Bancorp. by 43.9% in the first quarter. GAMMA Investing LLC now owns 1,522 shares of the bank's stock valued at $38,000 after buying an additional 464 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of First Financial Bancorp. in the 4th quarter worth about $44,000. CWM LLC lifted its position in First Financial Bancorp. by 24.4% in the 1st quarter. CWM LLC now owns 2,201 shares of the bank's stock valued at $55,000 after purchasing an additional 432 shares during the last quarter. Quarry LP lifted its position in First Financial Bancorp. by 68.9% in the 4th quarter. Quarry LP now owns 2,502 shares of the bank's stock valued at $67,000 after purchasing an additional 1,021 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in First Financial Bancorp. by 221.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank's stock worth $73,000 after purchasing an additional 1,873 shares during the last quarter. Institutional investors and hedge funds own 77.23% of the company's stock.

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.

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