First Financial Bancorp. (NASDAQ:FFBC) Given New $31.00 Price Target at Keefe, Bruyette & Woods

First Financial Bancorp. (NASDAQ:FFBC) had its price target boosted by equities researchers at Keefe, Bruyette & Woods from $28.00 to $31.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 7.19% from the stock’s previous close.

First Financial Bancorp. Stock Down 0.8 %

FFBC stock opened at $28.92 on Wednesday. First Financial Bancorp. has a 1-year low of $20.59 and a 1-year high of $31.18. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 12.47 and a beta of 1.01. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $26.90 and its 200 day moving average is $25.02.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. First Financial Bancorp. had a net margin of 18.55% and a return on equity of 10.32%. The firm had revenue of $302.82 million for the quarter, compared to analysts’ expectations of $214.00 million. During the same quarter last year, the company posted $0.67 EPS. Sell-side analysts predict that First Financial Bancorp. will post 2.53 EPS for the current fiscal year.

Insider Activity at First Financial Bancorp.

In other First Financial Bancorp. news, insider Scott T. Crawley sold 3,000 shares of First Financial Bancorp. stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $29.31, for a total transaction of $87,930.00. Following the transaction, the insider now directly owns 19,279 shares of the company’s stock, valued at approximately $565,067.49. This trade represents a 13.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard S. Dennen sold 4,068 shares of the company’s stock in a transaction on Monday, November 25th. The shares were 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 11,700 shares of company stock valued at $335,429. Corporate insiders own 2.04% of the company’s stock.

Institutional Investors Weigh In On First Financial Bancorp.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. purchased a new position in First Financial Bancorp. in the 3rd quarter worth approximately $28,000. Point72 DIFC Ltd bought a new position in shares of First Financial Bancorp. in the third quarter worth approximately $30,000. Bogart Wealth LLC increased its stake in shares of First Financial Bancorp. by 2,976.9% in the third 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 period. Blue Trust Inc. raised its holdings in First Financial Bancorp. by 23.1% during the 2nd quarter. Blue Trust Inc. now owns 3,340 shares of the bank’s stock valued at $75,000 after buying an additional 627 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in First Financial Bancorp. during the 2nd quarter valued at $77,000. Institutional investors 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.