The stock of First Financial Bancorp (NASDAQ:FFBC) hit a new 52-week high and has $26.83 target or 3.00% above today’s $26.05 share price. The 8 months bullish chart indicates low risk for the $1.63B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $26.83 price target is reached, the company will be worth $48.90M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 30,533 shares traded hands. First Financial Bancorp (NASDAQ:FFBC) has risen 31.34% since April 20, 2016 and is uptrending. It has outperformed by 26.78% the S&P500.
First Financial Bancorp (NASDAQ:FFBC) Ratings Coverage
Out of 9 analysts covering First Financial Bancorp (NASDAQ:FFBC), 2 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 22% are positive. First Financial Bancorp has been the topic of 12 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Piper Jaffray initiated the stock with “Neutral” rating in Thursday, October 6 report. Keefe Bruyette & Woods upgraded the stock to “Outperform” rating in Monday, January 25 report. PiperJaffray initiated First Financial Bancorp (NASDAQ:FFBC) on Thursday, October 6 with “Neutral” rating. The firm has “Outperform” rating given on Friday, January 22 by FIG Partners. The stock has “Underweight” rating given by Barclays Capital on Monday, October 26. RBC Capital Markets maintained the shares of FFBC in a report on Monday, January 25 with “Sector Perform” rating. The firm has “Hold” rating by Sandler O’Neill given on Thursday, March 10. The firm earned “Buy” rating on Tuesday, January 26 by Sandler O’Neill.
According to Zacks Investment Research, “First Financial Bancorp., is a financial holding company that engages in the business of commercial banking, and other permissible activities that are financial in nature, through seventeen wholly owned subsidiary institutions. Bancorp provides management and similar services for its subsidiary financial institutions. Bancorp must depend largely upon its seventeen subsidiaries for funds with which to pay the expenses of its operation and, to the extent applicable, any dividends on its outstanding shares of stock.”
Insitutional Activity: The institutional sentiment increased to 1.29 in Q2 2016. Its up 0.10, from 1.19 in 2016Q1. The ratio improved, as 10 funds sold all First Financial Bancorp shares owned while 47 reduced positions. 7 funds bought stakes while 61 increased positions. They now own 44.75 million shares or 1.82% less from 45.58 million shares in 2016Q1.
Stifel Fincl reported 36,261 shares or 0% of all its holdings. Employees Retirement Association Of Colorado last reported 0% of its portfolio in the stock. Anchor Cap Ltd Limited Liability Company accumulated 0.03% or 59,241 shares. First Manhattan Com has invested 0% of its portfolio in First Financial Bancorp (NASDAQ:FFBC). Bessemer Gru holds 0% or 1 shares in its portfolio. Macquarie Gp last reported 0.09% of its portfolio in the stock. Teachers Retirement Sys Of The State Of Kentucky has invested 0.01% of its portfolio in First Financial Bancorp (NASDAQ:FFBC). 1St Advisors Inc holds 11,170 shares or 0.03% of its portfolio. Airain Ltd owns 14,624 shares or 0.02% of their US portfolio. Moreover, Neumeier Poma Invest Counsel Limited Com has 3.44% invested in First Financial Bancorp (NASDAQ:FFBC) for 1.12 million shares. Fifth Third Natl Bank has 0% invested in the company for 1,542 shares. Great West Life Assurance Can has 6,157 shares for 0% of their US portfolio. Millennium Management Ltd Co last reported 640,915 shares in the company. Thrivent Fincl For Lutherans last reported 0.01% of its portfolio in the stock. Tompkins has 2,649 shares for 0.02% of their US portfolio.
Insider Transactions: Since May 25, 2016, the stock had 24 buys, and 8 sales for $1.66 million net activity. 264 shares with value of $5,371 were bought by FINNERTY CORINNE R on Monday, July 18. $6,512 worth of First Financial Bancorp (NASDAQ:FFBC) shares were bought by Neighbours John T. Geier Peter E also bought $1,495 worth of First Financial Bancorp (NASDAQ:FFBC) on Tuesday, October 11. Foster Holly M had sold 2,021 shares worth $44,142. 13,081 shares with value of $276,140 were sold by stollings anthony m on Monday, August 1. 223 shares were bought by Booth Cynthia O, worth $4,537. Rahe Maribeth S had bought 370 shares worth $7,900 on Tuesday, October 11.
More important recent First Financial Bancorp (NASDAQ:FFBC) news were published by: Prnewswire.com which released: “First Financial Bancorp. Reports Third Quarter 2016 Financial Results” on October 20, 2016, also Prnewswire.com published article titled: “First Financial Bancorp. Declares Quarterly Cash Dividend”, Seekingalpha.com published: “First Financial Bancorp: Small Is Beautiful” on October 24, 2016. More interesting news about First Financial Bancorp (NASDAQ:FFBC) was released by: Equitiesfocus.com and their article: “First Financial Bancorp. (NASDAQ:FFBC) Fixes Dividend Payout At $0.16” with publication date: November 22, 2016.
FFBC Company Profile
First Financial Bancorp. (First Financial), incorporated on August 2, 1982, 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 includes commercial lending, real estate lending and consumer financing. In addition, First Financial offers deposit products that include interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers. First Financial’s Wealth Management division provides a range of trust and asset management services. The Firm operates approximately 110 banking centers. The Company’s operating markets are located within the three state regions of Ohio, Indiana, and Kentucky. First Financial operates over 60 banking centers in Ohio, approximately 40 banking centers in Indiana and over four banking centers in Kentucky. In addition, it operates its franchise lending business and its insurance lending business from non-banking center locations in New Jersey and Indiana.
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