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First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) CEO Archie Brown sold 10,000 shares of First Financial Bancorp. stock in a transaction on Monday, June 8th. The shares were sold at an average price of $30.93, for a total value of $309,300.00. Following the sale, the chief executive officer directly owned 243,758 shares in the company, valued at $7,539,434.94. The trade was a 3.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
First Financial Bancorp. Stock Up 1.8%
Shares of First Financial Bancorp. stock opened at $31.38 on Wednesday. The business's fifty day moving average price is $29.86 and its two-hundred day moving average price is $28.10. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $3.29 billion, a P/E ratio of 11.09 and a beta of 0.93. First Financial Bancorp. has a 1-year low of $22.93 and a 1-year high of $31.74.
First Financial Bancorp. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.25 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. First Financial Bancorp.'s dividend payout ratio is 35.34%.
Institutional Investors Weigh In On First Financial Bancorp.
A number of institutional investors and hedge funds have recently modified their holdings of FFBC. Vanguard Group Inc. lifted its holdings in shares of 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 during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Financial Bancorp. by 6.0% during the first 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 during the last quarter. State Street Corp lifted its holdings in shares of First Financial Bancorp. by 7.9% during the fourth 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 lifted its holdings in shares of First Financial Bancorp. by 1.0% during the fourth 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 lifted its holdings in shares of First Financial Bancorp. by 557.5% during the first quarter. First Trust Advisors LP now owns 2,042,913 shares of the bank's stock valued at $56,956,000 after purchasing an additional 1,732,223 shares during the last quarter. 77.23% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on FFBC. Raymond James Financial restated an "outperform" rating and issued a $34.00 price objective on shares of First Financial Bancorp. in a report on Monday, April 27th. Stephens began coverage on First Financial Bancorp. in a report on Friday, March 27th. They issued an "overweight" rating and a $33.00 price objective for the company. Royal Bank Of Canada upped their price objective on First Financial Bancorp. from $30.00 to $32.00 and gave the company a "sector perform" rating in a report on Monday, April 27th. Wall Street Zen upgraded First Financial Bancorp. from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Truist Financial upped their price objective on First Financial Bancorp. from $30.00 to $33.00 and gave the company a "hold" rating in a report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $33.00.
Read Our Latest Stock Report on FFBC
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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