First Financial Bancorp. (NASDAQ:FFBC) Director Acquires $15,604.50 in Stock

First Financial Bancorp. (NASDAQ:FFBC) Director Anne Arvia purchased 618 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was bought at an average cost of $25.25 per share, with a total value of $15,604.50. Following the completion of the acquisition, the director owned 9,551 shares of the company’s stock, valued at approximately $241,162.75. The trade was a 6.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

First Financial Bancorp. Stock Up 2.3%

FFBC opened at $26.07 on Friday. The firm has a market cap of $2.50 billion, a P/E ratio of 10.43 and a beta of 0.96. The business’s fifty day simple moving average is $25.46 and its 200 day simple moving average is $24.57. First Financial Bancorp. has a 52 week low of $21.10 and a 52 week 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.

First Financial Bancorp. (NASDAQ:FFBC) last released its earnings results on Thursday, July 24th. The bank reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. First Financial Bancorp. had a net margin of 19.41% and a return on equity of 10.57%. The company had revenue of $226.30 million for the quarter, compared to analyst estimates of $219.95 million. During the same period in the prior year, the firm earned $0.64 EPS. As a group, equities research analysts anticipate that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from First Financial Bancorp.’s previous quarterly dividend of $0.24. First Financial Bancorp.’s dividend payout ratio is presently 40.00%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Principal Financial Group Inc. grew its stake in First Financial Bancorp. by 2.6% during the first quarter. Principal Financial Group Inc. now owns 525,209 shares of the bank’s stock worth $13,120,000 after buying an additional 13,341 shares during the period. GAMMA Investing LLC increased its holdings in First Financial Bancorp. by 43.9% in the 1st quarter. GAMMA Investing LLC now owns 1,522 shares of the bank’s stock valued at $38,000 after purchasing an additional 464 shares in the last quarter. MQS Management LLC purchased a new position in First Financial Bancorp. in the first quarter valued at about $543,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of First Financial Bancorp. by 43.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,408 shares of the bank’s stock worth $909,000 after purchasing an additional 11,098 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of First Financial Bancorp. in the first quarter worth about $418,000. Hedge funds and other institutional investors own 77.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FFBC shares. Keefe, Bruyette & Woods increased their price target on First Financial Bancorp. from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Wednesday, June 25th. Wall Street Zen upgraded First Financial Bancorp. from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th. Royal Bank Of Canada restated a “sector perform” rating and issued a $28.00 price target (up previously from $27.00) on shares of First Financial Bancorp. in a report on Monday, July 28th. Stephens reaffirmed an “overweight” rating and set a $29.00 price objective on shares of First Financial Bancorp. in a research note on Friday, June 27th. Finally, Truist Financial boosted their target price on shares of First Financial Bancorp. from $28.00 to $29.00 and gave the company a “hold” rating in a report on Friday. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, First Financial Bancorp. currently has an average rating of “Moderate Buy” and a consensus price target of $29.80.

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.