First Financial Bancorp. (NASDAQ:FFBC – Get Free Report) announced a quarterly dividend on Tuesday, October 27th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.26 per share by the bank on Tuesday, December 15th. This represents a $1.04 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, December 1st.
First Financial Bancorp. has a dividend payout ratio of 37.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Financial Bancorp. to earn $3.55 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 29.3%.
First Financial Bancorp. Price Performance
NASDAQ FFBC opened at $32.78 on Wednesday. First Financial Bancorp. has a 52-week low of $23.06 and a 52-week high of $36.24. The firm has a 50-day moving average price of $32.09 and a 200 day moving average price of $30.84.
First Financial Bancorp. (NASDAQ:FFBC – Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.02. The business had revenue of $273.91 million during the quarter, compared to analysts’ expectations of $270.97 million. During the same quarter in the previous year, the company posted $0.76 EPS. On average, analysts predict that First Financial Bancorp. will post 3.18 EPS for the current year.
Insider Transactions at First Financial Bancorp.
In other news, CFO James Anderson sold 4,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $33.73, for a total transaction of $134,920.00. Following the completion of the transaction, the chief financial officer owned 114,537 shares in the company, valued at approximately $3,863,333.01. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Archie Brown sold 5,000 shares of First Financial Bancorp. stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $32.93, for a total value of $164,650.00. Following the completion of the transaction, the chief executive officer owned 238,758 shares in the company, valued at $7,862,300.94. The trade was a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 27,788 shares of company stock valued at $919,006. Company insiders own 1.08% of the company’s stock.
Institutional Trading of First Financial Bancorp.
A number of hedge funds have recently made changes to their positions in FFBC. Signaturefd LLC raised its stake in shares of First Financial Bancorp. by 2,958.7% in the 3rd quarter. Signaturefd LLC now owns 10,889 shares of the bank’s stock valued at $341,000 after acquiring an additional 10,533 shares in the last quarter. Root Financial Partners LLC acquired a new position in First Financial Bancorp. in the 3rd quarter valued at $26,000. Capstone Capital Management Ltd bought a new position in First Financial Bancorp. in the 3rd quarter worth $240,000. Counterpoint Mutual Funds LLC acquired a new position in First Financial Bancorp. during the 3rd quarter worth $606,000. Finally, USA Financial Formulas bought a new stake in First Financial Bancorp. during the third quarter valued at about $39,000. 77.23% of the stock is owned by hedge funds and other institutional investors.
First Financial Bancorp. Company Profile
First Financial Bancorp. is a bank holding company headquartered in Cincinnati, Ohio. Through its principal subsidiary, First Financial Bank, the company provides banking and financial services to businesses, individuals and organizations.
First Financial Bank offers commercial and consumer lending, deposit accounts, treasury management, cash management and other traditional banking products. Its services also include wealth management, investment services and mortgage-related solutions, helping customers manage borrowing, deposits, payments and longer-term financial needs.
The company serves communities primarily in Ohio, Indiana and Kentucky through a network of banking offices and digital banking channels.
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