BidaskClub upgraded shares of First Financial Bank (NASDAQ:FFBC) from a sell rating to a hold rating in a research note published on Friday, March 9th.
Several other equities research analysts have also weighed in on the stock. FIG Partners raised shares of First Financial Bank from a market perform rating to an outperform rating and set a $31.00 target price on the stock in a report on Friday, February 9th. Hilliard Lyons upgraded shares of First Financial Bank from a neutral rating to a buy rating and set a $33.00 target price on the stock in a research report on Monday, January 22nd. Finally, Barclays increased their price target on shares of First Financial Bank from $27.00 to $30.00 and gave the company an underweight rating in a research report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $29.89.
Shares of FFBC stock traded down $0.50 during mid-day trading on Friday, reaching $28.85. The company’s stock had a trading volume of 1,469,765 shares, compared to its average volume of 518,495. First Financial Bank has a 1-year low of $22.80 and a 1-year high of $29.65. The stock has a market cap of $1,822.43, a price-to-earnings ratio of 17.79, a P/E/G ratio of 1.39 and a beta of 1.10. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.91 and a current ratio of 0.92.
First Financial Bank (NASDAQ:FFBC) last posted its earnings results on Thursday, January 18th. The bank reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.05. First Financial Bank had a net margin of 26.11% and a return on equity of 11.51%. The business had revenue of $94.00 million for the quarter, compared to analyst estimates of $90.05 million. During the same quarter in the prior year, the firm earned $0.38 EPS. sell-side analysts predict that First Financial Bank will post 2.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were issued a dividend of $0.19 per share. This is an increase from First Financial Bank’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 2.63%. The ex-dividend date was Wednesday, February 28th. First Financial Bank’s dividend payout ratio (DPR) is 47.20%.
Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of First Financial Bank during the 3rd quarter worth approximately $125,000. Trustcore Financial Services LLC bought a new position in shares of First Financial Bank during the 4th quarter worth approximately $146,000. FDx Advisors Inc. bought a new position in shares of First Financial Bank during the 3rd quarter worth approximately $205,000. Xact Kapitalforvaltning AB bought a new position in shares of First Financial Bank during the 4th quarter worth approximately $237,000. Finally, Bedel Financial Consulting Inc. bought a new position in shares of First Financial Bank during the 4th quarter worth approximately $249,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.
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About First Financial Bank
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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