Insider Selling: First Financial Bancorp. (NASDAQ:FFBC) CEO Sells 5,000 Shares of Stock

First Financial Bancorp. (NASDAQ:FFBCGet Free Report) CEO Archie Brown sold 5,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $32.93, for a total transaction of $164,650.00. Following the completion of the sale, the chief executive officer owned 238,758 shares in the company, valued at approximately $7,862,300.94. This trade represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

First Financial Bancorp. Trading Up 0.5%

Shares of FFBC stock traded up $0.16 on Thursday, hitting $32.83. The stock had a trading volume of 645,816 shares, compared to its average volume of 942,190. First Financial Bancorp. has a twelve month low of $23.06 and a twelve month high of $36.24. The firm has a market cap of $3.45 billion, a P/E ratio of 11.60 and a beta of 0.91. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $33.90 and a two-hundred day moving average price of $31.06.

First Financial Bancorp. (NASDAQ:FFBCGet Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The bank reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $264.17 million for the quarter, compared to the consensus estimate of $270.29 million. First Financial Bancorp. had a return on equity of 11.13% and a net margin of 20.77%.The firm’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 EPS. As a group, analysts forecast that First Financial Bancorp. will post 3.22 earnings per share for the current fiscal year.

First Financial Bancorp. Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.26 per share. This is an increase from First Financial Bancorp.’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 1st. First Financial Bancorp.’s payout ratio is 36.75%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FFBC. Rockefeller Capital Management L.P. raised its position in First Financial Bancorp. by 137.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 991 shares of the bank’s stock worth $25,000 after acquiring an additional 574 shares in the last quarter. Hantz Financial Services Inc. grew its position in shares of First Financial Bancorp. by 38.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,743 shares of the bank’s stock valued at $44,000 after acquiring an additional 486 shares during the period. Smithfield Trust Co acquired a new position in shares of First Financial Bancorp. during the 4th quarter worth about $50,000. Nykredit A S acquired a new position in shares of First Financial Bancorp. during the 2nd quarter worth about $55,000. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of First Financial Bancorp. in the 2nd quarter valued at about $57,000. 77.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on FFBC. Raymond James Financial boosted their price objective on First Financial Bancorp. from $34.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of First Financial Bancorp. in a report on Monday, June 8th. Wall Street Zen downgraded shares of First Financial Bancorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Truist Financial raised their price objective on shares of First Financial Bancorp. from $33.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, First Financial Bancorp. currently has a consensus rating of “Moderate Buy” and an average price target of $33.67.

Get Our Latest Report on FFBC

First Financial Bancorp. Company Profile

(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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