First Financial Bancorp (NASDAQ:FFBC) has been given a consensus rating of “Hold” by the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $32.67.
Several research analysts have commented on the company. Zacks Investment Research raised First Financial Bancorp from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Wednesday, August 8th. BidaskClub raised First Financial Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, July 11th. Barclays cut their price objective on First Financial Bancorp from $32.00 to $31.00 and set a “$31.40” rating on the stock in a research report on Monday, July 23rd. Sandler O’Neill reissued a “buy” rating and issued a $35.00 price objective on shares of First Financial Bancorp in a research report on Friday, July 20th. Finally, DA Davidson raised First Financial Bancorp from a “neutral” rating to a “buy” rating in a research report on Thursday, July 26th.
NASDAQ:FFBC traded down $0.74 during mid-day trading on Thursday, hitting $27.42. The company had a trading volume of 280,900 shares, compared to its average volume of 419,474. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. First Financial Bancorp has a 1 year low of $25.00 and a 1 year high of $33.70. The firm has a market capitalization of $2.91 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.32 and a beta of 1.05.
In other news, COO Anthony M. Stollings sold 15,847 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $31.59, for a total transaction of $500,606.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vince Berta bought 1,500 shares of the stock in a transaction dated Tuesday, July 31st. The shares were acquired at an average price of $29.95 per share, with a total value of $44,925.00. Following the completion of the purchase, the director now directly owns 6,527 shares of the company’s stock, valued at $195,483.65. The disclosure for this purchase can be found here. Insiders have bought 2,143 shares of company stock valued at $64,236 over the last 90 days. Insiders own 3.36% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new stake in shares of First Financial Bancorp during the second quarter valued at about $1,113,000. First Mercantile Trust Co. acquired a new position in First Financial Bancorp in the second quarter worth about $105,000. SG Americas Securities LLC acquired a new position in First Financial Bancorp in the first quarter worth about $120,000. Envestnet Asset Management Inc. grew its stake in First Financial Bancorp by 597.3% in the second quarter. Envestnet Asset Management Inc. now owns 4,567 shares of the bank’s stock worth $140,000 after purchasing an additional 3,912 shares in the last quarter. Finally, Neuburgh Advisers LLC acquired a new position in First Financial Bancorp in the second quarter worth about $146,000. Institutional investors own 73.84% 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 other banking, and banking-related services to individuals and businesses in Ohio, Indiana, and Kentucky. The company accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers.
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