First Financial Bancorp (FFBC) Rating Increased to Hold at BidaskClub
BidaskClub upgraded shares of First Financial Bancorp (NASDAQ:FFBC) from a sell rating to a hold rating in a report published on Wednesday.
FFBC has been the subject of a number of other research reports. Hilliard Lyons raised First Financial Bancorp from a neutral rating to a buy rating and set a $33.00 price target for the company in a research report on Monday, January 22nd. Royal Bank of Canada reissued a hold rating and set a $28.00 price target on shares of First Financial Bancorp in a research report on Friday, October 20th. Barclays boosted their price target on First Financial Bancorp from $27.00 to $30.00 and gave the company an underweight rating in a research report on Tuesday, January 2nd. Finally, Zacks Investment Research raised First Financial Bancorp from a hold rating to a strong-buy rating and set a $32.00 price target for the company in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $29.90.
Shares of First Financial Bancorp (FFBC) opened at $27.80 on Wednesday. First Financial Bancorp has a 1 year low of $22.80 and a 1 year high of $29.50. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a market capitalization of $1,681.83, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.30 and a beta of 1.19.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a $0.19 dividend. This is an increase from First Financial Bancorp’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.76 annualized dividend and a dividend yield of 2.73%. First Financial Bancorp’s dividend payout ratio is presently 42.50%.
Several hedge funds and other institutional investors have recently modified their holdings of FFBC. SG Americas Securities LLC purchased a new stake in shares of First Financial Bancorp in the third quarter worth about $125,000. Trustcore Financial Services LLC purchased a new stake in shares of First Financial Bancorp in the fourth quarter worth about $146,000. Ameritas Investment Partners Inc. boosted its position in shares of First Financial Bancorp by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 5,410 shares of the bank’s stock worth $150,000 after buying an additional 349 shares during the period. FDx Advisors Inc. purchased a new stake in shares of First Financial Bancorp in the third quarter worth about $205,000. Finally, Amalgamated Bank boosted its position in shares of First Financial Bancorp by 1.2% in the second quarter. Amalgamated Bank now owns 8,406 shares of the bank’s stock worth $233,000 after buying an additional 102 shares during the period. 77.53% of the stock is owned by institutional investors.
First Financial Bancorp Company Profile
First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.
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