First Financial Bancorp. (NASDAQ:FFBC) Short Interest Update

First Financial Bancorp. (NASDAQ:FFBC) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 1,160,000 shares, a decrease of 15.9% from the February 28th total of 1,380,000 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily volume of 427,300 shares, the days-to-cover ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total transaction of $189,392.00. Following the sale, the insider now directly owns 11,141 shares of the company’s stock, valued at $277,633.72. The trade was a 40.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FFBC. Point72 DIFC Ltd purchased a new position in shares of First Financial Bancorp. in the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new stake in First Financial Bancorp. in the fourth quarter valued at approximately $35,000. Allworth Financial LP purchased a new stake in shares of First Financial Bancorp. in the fourth quarter valued at approximately $44,000. Quarry LP raised its stake in shares of First Financial Bancorp. by 68.9% during the 4th 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 period. Finally, Smartleaf Asset Management LLC lifted its position in shares of First Financial Bancorp. by 221.9% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 77.23% of the company’s stock.

First Financial Bancorp. Stock Performance

Shares of FFBC stock traded up $0.28 on Wednesday, hitting $25.10. The company had a trading volume of 422,661 shares, compared to its average volume of 397,974. First Financial Bancorp. has a twelve month low of $20.59 and a twelve month high of $31.18. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. The firm has a market cap of $2.40 billion, a P/E ratio of 10.46 and a beta of 0.85. The company has a 50-day moving average price of $26.65 and a 200-day moving average price of $26.88.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly 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%. As a group, equities research analysts predict that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.24 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 3.82%. First Financial Bancorp.’s payout ratio is 40.00%.

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.