First Financial Bancorp.’s (FFBC) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of First Financial Bancorp. (NASDAQ:FFBC) in a report published on Monday,Benzinga reports. They currently have a $30.00 price objective on the bank’s stock.

Several other brokerages have also commented on FFBC. Stephens reaffirmed an “overweight” rating and issued a $33.00 price objective on shares of First Financial Bancorp. in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday.

First Financial Bancorp. Stock Down 0.3 %

First Financial Bancorp. stock opened at $27.66 on Monday. First Financial Bancorp. has a fifty-two week low of $20.59 and a fifty-two week high of $31.18. The stock has a market cap of $2.64 billion, a PE ratio of 11.92 and a beta of 1.02. The firm’s 50-day simple moving average is $27.99 and its 200 day simple moving average is $26.62. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 0.91.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. First Financial Bancorp. had a net margin of 18.55% and a return on equity of 10.32%. Research analysts predict that First Financial Bancorp. will post 2.52 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Monday, March 3rd. First Financial Bancorp.’s dividend payout ratio (DPR) is currently 40.00%.

Insider Activity

In other First Financial Bancorp. news, insider Scott T. Crawley sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $29.31, for a total value of $87,930.00. Following the sale, the insider now directly owns 19,279 shares in the company, valued at $565,067.49. This represents a 13.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard S. Dennen sold 4,068 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $30.01, for a total transaction of $122,080.68. Following the completion of the sale, the insider now owns 70,652 shares in the company, valued at $2,120,266.52. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,000 shares of company stock valued at $237,971 over the last quarter. Company insiders own 2.04% of the company’s stock.

Institutional Trading of First Financial Bancorp.

Institutional investors and hedge funds have recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new stake in First Financial Bancorp. in the 3rd quarter worth approximately $28,000. Point72 DIFC Ltd purchased a new stake in First Financial Bancorp. in the 3rd quarter worth approximately $30,000. ORG Partners LLC purchased a new stake in First Financial Bancorp. in the 4th quarter worth approximately $35,000. Bogart Wealth LLC increased its holdings in shares of First Financial Bancorp. by 2,976.9% in the 3rd quarter. Bogart Wealth LLC now owns 2,000 shares of the bank’s stock worth $50,000 after buying an additional 1,935 shares during the last quarter. Finally, Kentucky Trust Co bought a new position in shares of First Financial Bancorp. in the 4th quarter worth $76,000. 77.23% of the stock is currently owned by hedge funds and other institutional investors.

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.