Is First Financial Bancorp (Ohio) overvalued or undervalued?

As of 7 July 2025, the valuation grade for First Financial Bancorp (Ohio) has moved from expensive to fair. The company appears to be fairly valued at this time. Key valuation ratios include a P/E ratio of 11, a Price to Book Value of 1.02, and an EV to EBITDA of 8.35. In comparison, Atlantic Union Bankshares Corp. has a P/E of 17.24 and Independent Bank Corp. (Massachusetts) has a P/E of 18.40, indicating that First Financial Bancorp is trading at a lower valuation relative to some peers.
In terms of recent performance, First Financial Bancorp has underperformed the S&P 500 on a year-to-date basis, with a return of -1.93% compared to the S&P 500's 12.22%. However, over a five-year period, the company has outperformed the index with a return of 106.26% versus the S&P 500's 96.61%. This mixed performance suggests that while the stock may be fairly valued currently, its historical returns indicate potential for growth.