Today’s Stock On Watch: Is Buying First Financial Bancorp Here a Winning Strategy?

Today's Stock On Watch: Is Buying First Financial Bancorp Here a Winning Strategy?

The stock of First Financial Bancorp (NASDAQ:FFBC) is a huge mover today! About 373,132 shares traded hands or 79.35% up from the average. First Financial Bancorp (NASDAQ:FFBC) has risen 24.86% since April 8, 2016 and is uptrending. It has outperformed by 19.21% the S&P500.
The move comes after 9 months positive chart setup for the $1.47 billion company. It was reported on Nov, 10 by Barchart.com. We have $32.25 PT which if reached, will make NASDAQ:FFBC worth $573.30 million more.

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. PiperJaffray initiated the shares of FFBC in a report on Thursday, October 6 with “Neutral” rating. The stock has “Outperform” rating given by Keefe Bruyette & Woods on Monday, January 25. The stock of First Financial Bancorp (NASDAQ:FFBC) earned “Hold” rating by Sandler O’Neill on Thursday, March 10. Barclays Capital maintained First Financial Bancorp (NASDAQ:FFBC) on Monday, October 26 with “Underweight” rating. The firm has “Sector Perform” rating by RBC Capital Markets given on Monday, January 25. The stock of First Financial Bancorp (NASDAQ:FFBC) earned “Outperform” rating by FIG Partners on Friday, January 22. The firm earned “Neutral” rating on Thursday, October 6 by Piper Jaffray. The rating was upgraded by Sandler O’Neill to “Buy” on Tuesday, January 26.

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 decreased to 1.19 in 2016 Q2. Its down 0.69, from 1.88 in 2016Q1. The ratio dropped, 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.
Capstone Asset Mgmt Com accumulated 15,799 shares or 0.01% of the stock. Finemark Financial Bank And Trust accumulated 0.02% or 10,000 shares. Moreover, Bessemer Grp has 0% invested in First Financial Bancorp (NASDAQ:FFBC) for 1 shares. Paradigm Asset Ltd holds 0% of its portfolio in First Financial Bancorp (NASDAQ:FFBC) for 1,300 shares. Neumeier Poma Invest Counsel Ltd holds 3.44% of its portfolio in First Financial Bancorp (NASDAQ:FFBC) for 1.12M shares. Aperio Gru Llc has invested 0% of its portfolio in First Financial Bancorp (NASDAQ:FFBC). Moreover, Wells Fargo Com Mn has 0% invested in First Financial Bancorp (NASDAQ:FFBC) for 100,120 shares. Putnam Invests Ltd Liability last reported 0.01% of its portfolio in the stock. The Switzerland-based Swiss Financial Bank has invested 0% in First Financial Bancorp (NASDAQ:FFBC). Tompkins Fin holds 0.02% or 2,649 shares in its portfolio. Blackrock Grp Ltd has 94,183 shares for 0% of their US portfolio. Nationwide Fund Advisors last reported 203,606 shares in the company. Provident Inc holds 393,069 shares or 1.58% of its portfolio. Pinebridge Investments Ltd Partnership last reported 7,845 shares in the company. Moreover, Teachers Advsr Inc has 0% invested in First Financial Bancorp (NASDAQ:FFBC) for 98,044 shares.

Insider Transactions: Since May 16, 2016, the stock had 24 buys, and 8 selling transactions for $820,840 net activity. Rahe Maribeth S had bought 389 shares worth $7,914. Shares for $6,530 were bought by Neighbours John T. Another trade for 131 shares valued at $2,665 was made by kramer william j on Monday, July 18. $5,338 worth of shares were bought by FINNERTY CORINNE R on Tuesday, October 11. $7,686 worth of shares were bought by Barker David S on Tuesday, October 11. PURKRABEK KNUST SUSAN L also bought $4,760 worth of First Financial Bancorp (NASDAQ:FFBC) shares. Shares for $44,142 were sold by Foster Holly M on Friday, August 5.

More news for First Financial Bancorp (NASDAQ:FFBC) were recently published by: Prnewswire.com, which released: “First Financial Bancorp. Declares Quarterly Cash Dividend” on October 25, 2016. Seekingalpha.com‘s article titled: “First Financial Bancorp: Small Is Beautiful” and published on October 24, 2016 is yet another important article.

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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