First Financial Bancorp. (NASDAQ:FFBC – Get Free Report)‘s stock had its “sector perform” rating restated by investment analysts at Royal Bank of Canada in a note issued to investors on Monday,Benzinga reports. They presently have a $30.00 target price on the bank’s stock. Royal Bank of Canada’s price target indicates a potential upside of 8.19% from the stock’s previous close.
Several other equities research analysts have also issued reports on the stock. Stephens reissued an “overweight” rating and set a $33.00 target price on shares of First Financial Bancorp. in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their price objective on First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a report on Monday.
Read Our Latest Stock Report on FFBC
First Financial Bancorp. Trading Down 1.8 %
First Financial Bancorp. (NASDAQ:FFBC – Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, beating 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%. As a group, analysts forecast that First Financial Bancorp. will post 2.52 EPS for the current year.
Insider Buying and Selling at First Financial Bancorp.
In other First Financial Bancorp. news, insider Richard S. Dennen sold 4,068 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $30.01, for a total value of $122,080.68. Following the transaction, the insider now directly owns 70,652 shares of the company’s stock, valued at $2,120,266.52. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott T. Crawley sold 3,000 shares of First Financial Bancorp. stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $29.31, for a total value of $87,930.00. Following the transaction, the insider now owns 19,279 shares in the company, valued at approximately $565,067.49. The trade was a 13.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,000 shares of company stock valued at $237,971 over the last quarter. 2.04% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of FFBC. Souders Financial Advisors raised its stake in First Financial Bancorp. by 0.9% during the third quarter. Souders Financial Advisors now owns 72,038 shares of the bank’s stock worth $1,818,000 after purchasing an additional 617 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of First Financial Bancorp. by 5.2% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 12,525 shares of the bank’s stock valued at $316,000 after buying an additional 618 shares during the period. Blue Trust Inc. lifted its holdings in First Financial Bancorp. by 11.3% in the fourth quarter. Blue Trust Inc. now owns 9,340 shares of the bank’s stock valued at $236,000 after acquiring an additional 945 shares during the last quarter. Franklin Resources Inc. grew its position in First Financial Bancorp. by 1.5% in the third quarter. Franklin Resources Inc. now owns 67,175 shares of the bank’s stock worth $1,707,000 after acquiring an additional 975 shares during the period. Finally, Financial Management Professionals Inc. acquired a new stake in First Financial Bancorp. during the third quarter worth $28,000. 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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