Key Points
- Director Dawn Morris sold 740 shares of First Financial Bancorp. on May 29 at an average price of $30.90, totaling about $22,866. After the sale, she still owned 9,548 shares.
- The stock recently traded near its 52-week high, opening at $30.76 versus a 52-week range of $22.93 to $31.38. FFBC also has a market cap of about $3.23 billion and a dividend yield of 3.3% after declaring a quarterly payout of $0.25 per share.
- Analysts remain mixed but generally constructive on the bank, with a consensus rating of Moderate Buy and an average price target of $33.00. Institutional ownership is high, with hedge funds and other institutions holding about 77.23% of the shares.
-logo-1200x675.jpg)
First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) Director Dawn Morris sold 740 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $30.90, for a total value of $22,866.00. Following the sale, the director directly owned 9,548 shares of the company's stock, valued at $295,033.20. This represents a 7.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.
First Financial Bancorp. Price Performance
Shares of FFBC stock opened at $30.76 on Friday. First Financial Bancorp. has a 52-week low of $22.93 and a 52-week high of $31.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $3.23 billion, a P/E ratio of 10.87 and a beta of 0.94. The stock has a 50 day moving average price of $29.39 and a 200 day moving average price of $27.75.
First Financial Bancorp. Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, June 1st. First Financial Bancorp.'s dividend payout ratio (DPR) is currently 35.34%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of FFBC. Vanguard Group Inc. increased its holdings in shares of First Financial Bancorp. by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 10,929,185 shares of the bank's stock valued at $273,448,000 after acquiring an additional 215,357 shares during the period. Dimensional Fund Advisors LP increased 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 acquiring an additional 374,373 shares during the period. State Street Corp increased its holdings 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 acquiring an additional 354,833 shares during the period. Geode Capital Management LLC increased its holdings 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 acquiring an additional 22,389 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of First Financial Bancorp. by 557.5% in the 1st quarter. First Trust Advisors LP now owns 2,042,913 shares of the bank's stock valued at $56,956,000 after acquiring an additional 1,732,223 shares during the period. 77.23% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have commented on FFBC shares. Hovde Group raised their price objective on First Financial Bancorp. from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Stephens started coverage on First Financial Bancorp. in a report on Friday, March 27th. They set an "overweight" rating and a $33.00 price objective on the stock. Raymond James Financial restated an "outperform" rating and set a $34.00 price objective on shares of First Financial Bancorp. in a report on Monday, April 27th. Truist Financial raised their price objective on First Financial Bancorp. from $30.00 to $33.00 and gave the stock a "hold" rating in a report on Monday, April 27th. Finally, Wall Street Zen downgraded First Financial Bancorp. from a "buy" rating to a "hold" rating in a report on Sunday, May 24th. 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $33.00.
Get Our Latest Stock Report on First Financial Bancorp.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
