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First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) CFO James Anderson sold 4,000 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $33.73, for a total transaction of $134,920.00. Following the sale, the chief financial officer directly owned 114,537 shares in the company, valued at $3,863,333.01. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
First Financial Bancorp. Stock Performance
Shares of FFBC stock opened at $33.83 on Friday. The business has a fifty day moving average of $32.91 and a 200 day moving average of $30.20. First Financial Bancorp. has a 1 year low of $23.06 and a 1 year high of $36.24. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 11.95 and a beta of 0.92.
First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $0.80 earnings per share for the quarter, beating 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 company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. As a group, research analysts expect that First Financial Bancorp. will post 3.22 earnings per share for the current year.
First Financial Bancorp. Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.26 dividend. 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 yield of 3.1%. The ex-dividend date is Tuesday, September 1st. First Financial Bancorp.'s payout ratio is currently 35.34%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on FFBC shares. Royal Bank Of Canada raised their price target on shares of First Financial Bancorp. from $30.00 to $32.00 and gave the stock a "sector perform" rating in a research report on Monday, April 27th. Truist Financial upped their price objective on shares of First Financial Bancorp. from $33.00 to $35.00 and gave the company a "hold" rating in a report on Friday, July 10th. Weiss Ratings reiterated a "buy (b)" rating on shares of First Financial Bancorp. in a research note on Monday, June 8th. Wall Street Zen lowered shares of First Financial Bancorp. from a "buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Finally, Raymond James Financial raised their target price on shares of First Financial Bancorp. from $34.00 to $36.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $33.67.
Get Our Latest Report on First Financial Bancorp.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FFBC. Rockefeller Capital Management L.P. raised its position in shares of First Financial Bancorp. by 137.6% in 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 during the period. First Horizon Corp grew its position in shares of First Financial Bancorp. by 56.0% during the 4th quarter. First Horizon Corp now owns 1,526 shares of the bank's stock valued at $38,000 after acquiring an additional 548 shares during the period. Hantz Financial Services Inc. grew its position in shares of First Financial Bancorp. by 38.7% during 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 purchased a new position in shares of First Financial Bancorp. in the 4th quarter valued at about $50,000. Finally, TD Private Client Wealth LLC increased its stake in shares of First Financial Bancorp. by 14.2% in the 4th quarter. TD Private Client Wealth LLC now owns 3,309 shares of the bank's stock valued at $83,000 after purchasing an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 77.23% of the company's stock.
About First Financial Bancorp.
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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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