First Financial Bancorp. (NASDAQ:FFBC) Earns Hold Rating from Analysts at Truist Financial

Truist Financial started coverage on shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) in a research report released on Tuesday morning, Marketbeat.com reports. The firm issued a hold rating and a $27.00 target price on the bank's stock.

Several other equities analysts have also commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Royal Bank of Canada dropped their target price on shares of First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating for the company in a report on Monday, April 28th. Finally, Stephens reiterated an "overweight" rating and issued a $33.00 target price on shares of First Financial Bancorp. in a report on Friday, January 24th.

First Financial Bancorp. Stock Performance

NASDAQ FFBC traded up $0.04 during mid-day trading on Tuesday, reaching $25.10. 332,587 shares of the stock were exchanged, compared to its average volume of 421,291. 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 company has a market capitalization of $2.40 billion, a P/E ratio of 10.46 and a beta of 0.94. First Financial Bancorp. has a 1 year low of $20.59 and a 1 year high of $31.18. The business's 50 day moving average is $23.85 and its 200-day moving average is $26.42.

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

First Financial Bancorp. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.82%. First Financial Bancorp.'s dividend payout ratio (DPR) is 39.83%.

Insiders Place Their Bets

In other First Financial Bancorp. news, insider James R. Shank sold 7,600 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were 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 in the company, valued at approximately $277,633.72. This represents a 40.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 464 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of First Financial Bancorp. in the fourth quarter valued at about $44,000. CWM LLC lifted its holdings in shares of First Financial Bancorp. by 24.4% in the first quarter. CWM LLC now owns 2,201 shares of the bank's stock valued at $55,000 after purchasing an additional 432 shares in the last quarter. Quarry LP lifted its holdings in shares of First Financial Bancorp. by 68.9% in the fourth quarter. Quarry LP now owns 2,502 shares of the bank's stock valued at $67,000 after purchasing an additional 1,021 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of First Financial Bancorp. by 221.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank's stock valued at $73,000 after purchasing an additional 1,873 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors and hedge funds.

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.