Key Points
- CAO Karen Woods sold 10,000 shares on Feb. 13 at an average price of $30.28 for $302,800, leaving her with 63,954 shares (a 13.52% reduction in her stake).
- In the quarter ended Jan. 28, First Financial reported EPS of $0.80 (vs. $0.78 consensus) and revenue of $251.3M, with a net margin of 20.3% and ROE of 10.77%.
- The company declared a quarterly dividend of $0.25 (annualized $1.00, 3.3% yield; ex-dividend March 2), and analysts hold a consensus "Moderate Buy" rating with a $30.50 price target.
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First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) CAO Karen Woods sold 10,000 shares of the firm's stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $30.28, for a total value of $302,800.00. Following the completion of the transaction, the chief accounting officer directly owned 63,954 shares in the company, valued at $1,936,527.12. The trade was a 13.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
First Financial Bancorp. Price Performance
NASDAQ FFBC opened at $30.45 on Wednesday. The company has a 50-day moving average price of $27.30 and a 200-day moving average price of $25.83. First Financial Bancorp. has a 52 week low of $21.10 and a 52 week high of $31.38. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $3.00 billion, a P/E ratio of 11.45 and a beta of 1.00.
First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last announced its earnings results on Wednesday, January 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. First Financial Bancorp. had a net margin of 20.30% and a return on equity of 10.77%. The company had revenue of $251.30 million during the quarter, compared to analyst estimates of $249.00 million. During the same period in the previous year, the business posted $0.71 earnings per share. Equities research analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current year.
First Financial Bancorp. Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, March 2nd. First Financial Bancorp.'s dividend payout ratio is 37.59%.
Analysts Set New Price Targets
Several research firms have issued reports on FFBC. Keefe, Bruyette & Woods boosted their price target on First Financial Bancorp. from $31.00 to $32.00 and gave the company a "market perform" rating in a report on Friday, January 30th. Hovde Group increased their target price on shares of First Financial Bancorp. from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Royal Bank Of Canada raised their target price on shares of First Financial Bancorp. from $28.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. Raymond James Financial reiterated an "outperform" rating and issued a $28.00 price target (down from $30.00) on shares of First Financial Bancorp. in a research report on Monday, October 27th. Finally, Truist Financial raised their price objective on shares of First Financial Bancorp. from $29.00 to $30.00 and gave the company a "hold" rating in a research report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, First Financial Bancorp. presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.
Get Our Latest Research Report on FFBC
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. First Horizon Corp bought a new stake in shares of First Financial Bancorp. in the 3rd quarter worth about $25,000. Bogart Wealth LLC purchased a new position in First Financial Bancorp. in the third quarter worth about $25,000. MAI Capital Management increased its stake in First Financial Bancorp. by 530.6% during the third quarter. MAI Capital Management now owns 1,545 shares of the bank's stock worth $39,000 after acquiring an additional 1,300 shares during the last quarter. Hantz Financial Services Inc. raised its position in First Financial Bancorp. by 38.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,743 shares of the bank's stock valued at $44,000 after purchasing an additional 486 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of First Financial Bancorp. by 2,741.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,790 shares of the bank's stock valued at $45,000 after purchasing an additional 1,727 shares during the last quarter. 77.23% of the stock is owned by hedge funds and other institutional investors.
First Financial Bancorp. Company Profile
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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.
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