BidaskClub Downgrades First Financial Bancorp. (FFBC) to Hold

First Financial Bancorp. (NASDAQ:FFBC) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts also recently weighed in on FFBC. ValuEngine downgraded First Financial Bancorp. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Royal Bank of Canada restated a “hold” rating and set a $28.00 target price on shares of First Financial Bancorp. in a report on Friday, September 8th. Zacks Investment Research downgraded First Financial Bancorp. from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Piper Jaffray Companies set a $28.00 target price on First Financial Bancorp. and gave the company a “hold” rating in a report on Friday, October 6th. Finally, Barclays upped their target price on First Financial Bancorp. from $25.00 to $27.00 and gave the company an “underweight” rating in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. First Financial Bancorp. presently has a consensus rating of “Hold” and a consensus target price of $29.00.

Shares of First Financial Bancorp. (FFBC) opened at $27.80 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.93 and a quick ratio of 0.93. First Financial Bancorp. has a 12-month low of $22.80 and a 12-month high of $29.40. The firm has a market capitalization of $1,725.27, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 1.78 and a beta of 1.16.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.02. First Financial Bancorp. had a return on equity of 11.22% and a net margin of 26.49%. The firm had revenue of $83.95 million during the quarter, compared to the consensus estimate of $88.30 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. equities research analysts forecast that First Financial Bancorp. will post 1.56 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of First Financial Bancorp. by 0.8% during the second quarter. Vanguard Group Inc. now owns 5,714,986 shares of the bank’s stock valued at $158,306,000 after acquiring an additional 43,459 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in First Financial Bancorp. by 2.9% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 3,177,150 shares of the bank’s stock worth $83,082,000 after purchasing an additional 90,575 shares during the period. Dimensional Fund Advisors LP grew its stake in First Financial Bancorp. by 1.0% in the third quarter. Dimensional Fund Advisors LP now owns 3,144,757 shares of the bank’s stock worth $82,236,000 after purchasing an additional 30,068 shares during the period. Macquarie Group Ltd. grew its stake in First Financial Bancorp. by 8.9% in the third quarter. Macquarie Group Ltd. now owns 2,770,582 shares of the bank’s stock worth $72,451,000 after purchasing an additional 226,144 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in First Financial Bancorp. by 4.2% in the second quarter. JPMorgan Chase & Co. now owns 2,615,610 shares of the bank’s stock worth $72,453,000 after purchasing an additional 106,493 shares during the period. Institutional investors own 77.89% of the company’s stock.

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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.

Analyst Recommendations for First Financial Bancorp. (NASDAQ:FFBC)

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