Keefe Bruyette & Woods Reiterates Market Perform Rating on FFBC

According to a recent report from Keefe, Bruyette & Woods, First Financial Bancorp (NASDAQ: FFBC) recently announced it has entered to purchase 16 branches of Liberty Savings Bank, based out of Dayton, Ohio. The interest in the Dayton branches is consistent with FFBC's previous comments to expand in metropolitan Midwest markets. Keefe, Bruyette & Woods maintains a Market Perform rating and reiterates a $18.00 price target on the company.

In the report, Keefe, Bruyette & Woods said, "We believe FFBC's excess capital position continues to afford it the luxury to remain a prudent acquirer in the Midwest over the next several years."

FFBC closed yesterday at $15.66.