First Financial Bancorp. (NASDAQ:FFBC) Insider Sells $189,392.00 in Stock

First Financial Bancorp. (NASDAQ:FFBC) insider James R. Shank sold 7,600 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total value of $189,392.00. Following the sale, the insider now directly owns 11,141 shares of the company’s stock, valued at approximately $277,633.72. The trade was a 40.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

First Financial Bancorp. Stock Up 0.5 %

Shares of NASDAQ FFBC traded up $0.13 during midday trading on Wednesday, reaching $25.03. The company’s stock had a trading volume of 415,503 shares, compared to its average volume of 361,372. The stock has a 50 day simple moving average of $27.06 and a 200-day simple moving average of $26.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. First Financial Bancorp. has a fifty-two week low of $20.59 and a fifty-two week high of $31.18. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 10.43 and a beta of 0.99.

First Financial Bancorp. (NASDAQ:FFBC) last released its earnings results on Thursday, January 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. Equities research analysts predict that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Monday, March 3rd. First Financial Bancorp.’s dividend payout ratio is currently 40.00%.

Hedge Funds Weigh In On First Financial Bancorp.

Several hedge funds and other institutional investors have recently made changes to their positions in FFBC. Point72 DIFC Ltd acquired a new stake in First Financial Bancorp. in the third quarter valued at $30,000. ORG Partners LLC acquired a new stake in First Financial Bancorp. in the 4th quarter valued at about $35,000. Allworth Financial LP acquired a new stake in First Financial Bancorp. in the 4th quarter valued at about $44,000. Quarry LP increased its position in First Financial Bancorp. by 68.9% during the fourth quarter. Quarry LP now owns 2,502 shares of the bank’s stock worth $67,000 after buying an additional 1,021 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in First Financial Bancorp. by 221.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank’s stock valued at $73,000 after buying an additional 1,873 shares during the period. 77.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FFBC shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $30.00 price target on shares of First Financial Bancorp. in a report on Monday, January 27th. Stephens reiterated an “overweight” rating and set a $33.00 target price on shares of First Financial Bancorp. in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods boosted their price target on First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, January 27th.

First Financial Bancorp. Company Profile

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.