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First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) Director Thomas Murray Obrien sold 16,088 shares of First Financial Bancorp. stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $32.77, for a total transaction of $527,203.76. Following the transaction, the director directly owned 30,392 shares in the company, valued at $995,945.84. This trade represents a 34.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
First Financial Bancorp. Stock Performance
First Financial Bancorp. stock opened at $32.82 on Friday. The firm has a 50 day simple moving average of $33.90 and a 200-day simple moving average of $31.02. 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 stock has a market cap of $3.45 billion, a price-to-earnings ratio of 11.60 and a beta of 0.92.
First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. First Financial Bancorp. had a net margin of 20.77% and a return on equity of 11.13%. The business had revenue of $264.17 million during the quarter, compared to the consensus estimate of $270.29 million. During the same quarter last year, the firm earned $0.74 EPS. The business's revenue was up 16.7% compared to the same quarter last year. On average, analysts expect that First Financial Bancorp. will post 3.22 EPS for the current year.
First Financial Bancorp. Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders 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 3.2%. The ex-dividend date is Tuesday, September 1st. First Financial Bancorp.'s dividend payout ratio (DPR) is presently 36.75%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on FFBC. Wall Street Zen cut First Financial Bancorp. from a "buy" rating to a "hold" rating in a report on Tuesday, June 30th. Weiss Ratings restated a "buy (b)" rating on shares of First Financial Bancorp. in a report on Monday, June 8th. Truist Financial upped their target price on shares of First Financial Bancorp. from $33.00 to $35.00 and gave the company a "hold" rating in a research report on Friday, July 10th. Finally, Raymond James Financial increased their target price on shares of First Financial Bancorp. from $34.00 to $36.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $33.67.
Get Our Latest Research Report on FFBC
Institutional Investors Weigh In On First Financial Bancorp.
A number of institutional investors have recently modified their holdings of the company. Waverly Advisors LLC raised its holdings in shares of First Financial Bancorp. by 0.8% in the 1st quarter. Waverly Advisors LLC now owns 46,429 shares of the bank's stock valued at $1,294,000 after buying an additional 376 shares during the period. Kestra Advisory Services LLC grew its position in First Financial Bancorp. by 2.9% in the 1st quarter. Kestra Advisory Services LLC now owns 13,736 shares of the bank's stock valued at $383,000 after acquiring an additional 381 shares in the last quarter. Stifel Financial Corp increased its stake in First Financial Bancorp. by 1.5% during the fourth quarter. Stifel Financial Corp now owns 26,260 shares of the bank's stock worth $657,000 after purchasing an additional 389 shares during the period. TD Private Client Wealth LLC lifted its position in shares of First Financial Bancorp. by 14.2% during the fourth quarter. TD Private Client Wealth LLC now owns 3,309 shares of the bank's stock worth $83,000 after purchasing an additional 412 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of First Financial Bancorp. by 38.7% in 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. 77.23% of the stock is owned by institutional investors and hedge funds.
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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