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First Financial Bancorp. (NASDAQ:FFBC – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.31 and last traded at $32.44, with a volume of 612335 shares changing hands. The stock had previously closed at $32.30.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the stock. Truist Financial upped their price objective on shares of First Financial Bancorp. from $30.00 to $33.00 and gave the company a “hold” rating in a report on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of First Financial Bancorp. in a report on Monday, June 8th. Royal Bank Of Canada upped their price target on shares of First Financial Bancorp. from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Monday, April 27th. Wall Street Zen cut shares of First Financial Bancorp. from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Stephens initiated coverage on shares of First Financial Bancorp. in a report on Friday, March 27th. They issued an “overweight” rating and a $33.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, First Financial Bancorp. currently has a consensus rating of “Moderate Buy” and an average price target of $33.00.
Check Out Our Latest Stock Analysis on First Financial Bancorp.
First Financial Bancorp. Stock Performance
First Financial Bancorp. Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.25 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.1%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 35.34%.
Insider Activity at First Financial Bancorp.
In other First Financial Bancorp. news, insider Claude E. Davis sold 26,123 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $30.45, for a total transaction of $795,445.35. Following the sale, the insider directly owned 30,410 shares in the company, valued at $925,984.50. This represents a 46.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James M. Anderson sold 4,263 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $30.00, for a total transaction of $127,890.00. Following the completion of the transaction, the chief financial officer directly owned 118,537 shares in the company, valued at approximately $3,556,110. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,126 shares of company stock valued at $1,255,501 over the last quarter. 1.08% of the stock is owned by corporate insiders.
Institutional Trading of First Financial Bancorp.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in First Financial Bancorp. by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 10,929,185 shares of the bank’s stock valued at $273,448,000 after purchasing an additional 215,357 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of First Financial Bancorp. by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,617,522 shares of the bank’s stock valued at $184,493,000 after purchasing an additional 374,373 shares in the last quarter. State Street Corp increased its stake in shares of First Financial Bancorp. by 7.9% in the 4th quarter. State Street Corp now owns 4,851,427 shares of the bank’s stock valued at $121,383,000 after purchasing an additional 354,833 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of First Financial Bancorp. by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,374,365 shares of the bank’s stock valued at $59,415,000 after purchasing an additional 22,389 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of First Financial Bancorp. by 557.5% during the 1st quarter. First Trust Advisors LP now owns 2,042,913 shares of the bank’s stock worth $56,956,000 after buying an additional 1,732,223 shares in the last quarter. Institutional investors own 77.23% of the company’s stock.
First Financial Bancorp. Company Profile
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.
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