First Financial Bancorp price target lowered to $27 from $30 at RBC Capital

RBC Capital analyst Jon Arfstrom lowered the firm’s price target on First Financial Bancorp (FFBC) to $27 from $30 and keeps a Sector Perform rating on the shares. The company reported a “decent quarter” with some expected moderation and seasonality driving results, and the firm sees its outlook as consistent, with more visibility on the pipeline activity, near-term margin expectations, and focus on deposit pricing which can reduce the sensitivity to future rate cuts, the analyst tells investors in a research note.