Jefferies Initiates First Financial Bancorp Coverage: Hold, $16 PT

Jefferies initiated First Financial Bancorp FFBC coverage with a Hold rating and $16 price target in a research report published today. In the report, Jefferies states, "While offering one of the best capital return stories of our group, the relative pricing of the shares, non-permanent nature of the dividend, and core earnings pressure keep us on the sidelines at this time." First Financial Bancorp shares closed today at $15.74, down 3.08% from Friday's market close.