First Financial Bancorp. (NASDAQ:FFBC) insider C Douglas Lefferson sold 40,000 shares of First Financial Bancorp. stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $25.69, for a total transaction of $1,027,600.00. Following the sale, the insider now directly owns 74,170 shares in the company, valued at approximately $1,905,427.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of First Financial Bancorp. (NASDAQ FFBC) traded down 0.83% during mid-day trading on Friday, reaching $23.85. 254,990 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $26.55 and a 200 day moving average price of $27.05. First Financial Bancorp. has a 52 week low of $20.55 and a 52 week high of $29.80. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 15.79 and a beta of 1.18.
First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. The company had revenue of $85.97 million during the quarter, compared to analyst estimates of $89.52 million. First Financial Bancorp. had a net margin of 24.28% and a return on equity of 10.65%. During the same period last year, the company earned $0.36 EPS. Equities research analysts predict that First Financial Bancorp. will post $1.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Wednesday, August 30th. First Financial Bancorp.’s dividend payout ratio (DPR) is currently 45.03%.
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FFBC has been the topic of several recent research reports. BidaskClub raised shares of First Financial Bancorp. from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. ValuEngine upgraded shares of First Financial Bancorp. from a “hold” rating to a “buy” rating in a report on Wednesday, May 31st. Zacks Investment Research upgraded shares of First Financial Bancorp. from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Tuesday, May 30th. Sandler O’Neill upgraded shares of First Financial Bancorp. from a “hold” rating to a “buy” rating and boosted their price objective for the company from $28.00 to $29.00 in a report on Friday, July 28th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $29.00 price objective on shares of First Financial Bancorp. in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. First Financial Bancorp. currently has an average rating of “Hold” and a consensus price target of $28.63.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Guggenheim Capital LLC bought a new position in First Financial Bancorp. during the fourth quarter worth $667,000. Norges Bank bought a new position in First Financial Bancorp. during the fourth quarter worth $17,149,000. Teachers Advisors LLC increased its position in First Financial Bancorp. by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 101,896 shares of the bank’s stock worth $2,899,000 after buying an additional 2,465 shares during the period. Bank of Montreal Can increased its position in First Financial Bancorp. by 50.3% in the first quarter. Bank of Montreal Can now owns 5,580 shares of the bank’s stock worth $153,000 after buying an additional 1,867 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of First Financial Bancorp. by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the bank’s stock valued at $694,000 after buying an additional 400 shares during the last quarter. 74.31% of the stock is currently owned by institutional investors.
First Financial Bancorp. Company Profile
First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.
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