First Financial Bancorp. (NASDAQ:FFBC) Short Interest Update

First Financial Bancorp. (NASDAQ:FFBC) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,260,000 shares, a growth of 5.9% from the May 31st total of 1,190,000 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 325,100 shares, the days-to-cover ratio is currently 3.9 days.

First Financial Bancorp. Stock Performance

Shares of FFBC traded down $0.49 during mid-day trading on Wednesday, reaching $21.83. The company had a trading volume of 169,219 shares, compared to its average volume of 335,253. The stock has a 50 day moving average of $22.28 and a two-hundred day moving average of $22.32. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.08 billion, a P/E ratio of 9.00 and a beta of 1.01. First Financial Bancorp. has a 52-week low of $17.23 and a 52-week high of $24.99.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings results on Friday, April 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.59. First Financial Bancorp. had a net margin of 20.74% and a return on equity of 11.22%. The firm had revenue of $287.20 million for the quarter, compared to the consensus estimate of $201.79 million. During the same period in the prior year, the firm posted $0.76 earnings per share. On average, analysts expect that First Financial Bancorp. will post 2.42 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.23 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.92 annualized dividend and a dividend yield of 4.21%. First Financial Bancorp.’s dividend payout ratio is presently 37.10%.

Analyst Ratings Changes

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price objective on shares of First Financial Bancorp. in a report on Tuesday, April 9th.

Insider Activity at First Financial Bancorp.

In other news, insider Richard S. Dennen sold 10,500 shares of First Financial Bancorp. stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $23.64, for a total transaction of $248,220.00. Following the completion of the sale, the insider now directly owns 93,152 shares in the company, valued at $2,202,113.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Financial Bancorp.

A number of hedge funds have recently bought and sold shares of FFBC. Norges Bank acquired a new position in shares of First Financial Bancorp. during the fourth quarter worth about $15,348,000. Hsbc Holdings PLC raised its holdings in shares of First Financial Bancorp. by 2,655.1% in the 4th quarter. Hsbc Holdings PLC now owns 518,061 shares of the bank’s stock valued at $12,360,000 after purchasing an additional 499,257 shares in the last quarter. First Financial Bank Trust Division lifted its position in shares of First Financial Bancorp. by 17.8% during the 1st quarter. First Financial Bank Trust Division now owns 1,038,758 shares of the bank’s stock worth $23,289,000 after purchasing an additional 157,190 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of First Financial Bancorp. by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,625,010 shares of the bank’s stock worth $157,347,000 after purchasing an additional 155,097 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in First Financial Bancorp. by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 10,939,804 shares of the bank’s stock valued at $259,820,000 after buying an additional 91,126 shares in the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

First Financial Bancorp. Company Profile

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.