First Financial Bancorp. (NASDAQ:FFBC) Stock Passes Above Two Hundred Day Moving Average of $21.57

view original post

First Financial Bancorp. (NASDAQ:FFBCGet Rating) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $21.57 and traded as high as $22.44. First Financial Bancorp. shares last traded at $21.96, with a volume of 264,817 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Stephens raised their price target on shares of First Financial Bancorp. to $26.00 in a report on Tuesday, August 23rd.

First Financial Bancorp. Price Performance

The company’s fifty day moving average is $22.06 and its 200 day moving average is $21.57. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.61. The stock has a market cap of $2.08 billion, a PE ratio of 10.36 and a beta of 1.06.

First Financial Bancorp. (NASDAQ:FFBCGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.06. First Financial Bancorp. had a net margin of 30.36% and a return on equity of 9.61%. During the same period in the prior year, the business earned $0.58 earnings per share. As a group, sell-side analysts anticipate that First Financial Bancorp. will post 2.23 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Wednesday, August 31st. First Financial Bancorp.’s payout ratio is currently 43.40%.

Institutional Trading of First Financial Bancorp.

Hedge funds have recently made changes to their positions in the stock. MCF Advisors LLC acquired a new position in First Financial Bancorp. in the first quarter worth $28,000. CWM LLC boosted its holdings in First Financial Bancorp. by 225.7% in the first quarter. CWM LLC now owns 2,374 shares of the bank’s stock worth $55,000 after purchasing an additional 1,645 shares during the period. Point72 Hong Kong Ltd acquired a new position in First Financial Bancorp. in the second quarter worth $82,000. Quantbot Technologies LP boosted its holdings in First Financial Bancorp. by 1,883.6% in the second quarter. Quantbot Technologies LP now owns 6,030 shares of the bank’s stock worth $116,000 after purchasing an additional 5,726 shares during the period. Finally, Econ Financial Services Corp acquired a new position in First Financial Bancorp. in the first quarter worth $121,000. Institutional investors and hedge funds own 73.82% of the company’s stock.

First Financial Bancorp. Company Profile

(Get Rating)

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 accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers.

Read More

Receive News & Ratings for First Financial Bancorp. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for First Financial Bancorp. and related companies with MarketBeat.com’s FREE daily email newsletter.