First Financial Bancorp. (NASDAQ:FFBC) CEO Archie Brown Sells 10,000 Shares of Stock

First Financial Bancorp. (NASDAQ:FFBCGet Free Report) CEO Archie Brown sold 10,000 shares of First Financial Bancorp. stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $30.93, for a total value of $309,300.00. Following the completion of the transaction, the chief executive officer owned 243,758 shares of the company’s stock, valued at approximately $7,539,434.94. The trade was a 3.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

First Financial Bancorp. Price Performance

Shares of FFBC opened at $31.38 on Wednesday. First Financial Bancorp. has a 52 week low of $22.93 and a 52 week high of $31.74. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 11.09 and a beta of 0.93. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $29.86 and a 200-day moving average of $28.10.

First Financial Bancorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a yield of 3.2%. First Financial Bancorp.’s payout ratio is currently 35.34%.

Analyst Ratings Changes

A number of research analysts recently issued reports on FFBC shares. Truist Financial boosted their price objective on First Financial Bancorp. from $30.00 to $33.00 and gave the company a “hold” rating in a research report on Monday, April 27th. Raymond James Financial restated an “outperform” rating and set a $34.00 price objective on shares of First Financial Bancorp. in a research report on Monday, April 27th. Royal Bank Of Canada boosted their price objective on First Financial Bancorp. from $30.00 to $32.00 and gave the company a “sector perform” rating in a research report on Monday, April 27th. Stephens started coverage on First Financial Bancorp. in a research report on Friday, March 27th. They set an “overweight” rating and a $33.00 price objective for the company. Finally, Wall Street Zen upgraded First Financial Bancorp. from a “hold” rating to a “buy” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.00.

Read Our Latest Stock Analysis on First Financial Bancorp.

Institutional Trading of First Financial Bancorp.

Several hedge funds have recently added to or reduced their stakes in the business. Waverly Advisors LLC raised its stake in First Financial Bancorp. by 0.8% during the 1st quarter. Waverly Advisors LLC now owns 46,429 shares of the bank’s stock valued at $1,294,000 after acquiring an additional 376 shares in the last quarter. Kestra Advisory Services LLC raised its stake in First Financial Bancorp. by 2.9% during the 1st quarter. Kestra Advisory Services LLC now owns 13,736 shares of the bank’s stock valued at $383,000 after acquiring an additional 381 shares in the last quarter. Stifel Financial Corp raised its stake in First Financial Bancorp. by 1.5% during the 4th quarter. Stifel Financial Corp now owns 26,260 shares of the bank’s stock valued at $657,000 after acquiring an additional 389 shares in the last quarter. TD Private Client Wealth LLC raised its stake in First Financial Bancorp. by 14.2% during the 4th quarter. TD Private Client Wealth LLC now owns 3,309 shares of the bank’s stock valued at $83,000 after acquiring an additional 412 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in First Financial Bancorp. by 19.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,903 shares of the bank’s stock valued at $74,000 after acquiring an additional 472 shares in the last quarter. Institutional investors own 77.23% of the company’s stock.

About First Financial Bancorp.

(Get Free Report)

First Financial Bancorp (NASDAQ: FFBC) is a bank holding company headquartered in Cincinnati, Ohio, and the parent of First Financial Bank. The company provides a comprehensive suite of commercial and consumer banking services through a network of more than 100 full-service banking centers and mortgage offices across Ohio, Indiana and Kentucky. Its core mission centers on delivering personalized relationship banking to businesses, individuals and public sector clients.

First Financial Bank’s product portfolio includes deposit solutions such as checking, savings and money market accounts, alongside a range of lending offerings that cover commercial and industrial loans, real estate and construction financing, home mortgages and home equity lines of credit.

Further Reading

Insider Buying and Selling by Quarter for First Financial Bancorp. (NASDAQ:FFBC)

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