First Financial Bancorp. (NASDAQ:FFBC) Short Interest Down 15.9% in March

First Financial Bancorp. (NASDAQ:FFBC) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,160,000 shares, a decrease of 15.9% from the February 28th total of 1,380,000 shares. Based on an average daily volume of 427,300 shares, the short-interest ratio is presently 2.7 days. Approximately 1.2% of the shares of the stock are short sold.

First Financial Bancorp. Trading Down 6.7 %

Shares of NASDAQ:FFBC traded down $1.69 during midday trading on Thursday, hitting $23.41. 109,690 shares of the stock traded hands, compared to its average volume of 396,934. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $26.59 and its two-hundred day moving average is $26.87. The stock has a market capitalization of $2.23 billion, a PE ratio of 9.75 and a beta of 0.85. First Financial Bancorp. has a one year low of $20.59 and a one year high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. As a group, research analysts forecast that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Monday, March 3rd. First Financial Bancorp.’s dividend payout ratio (DPR) is currently 40.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on FFBC shares. Stephens reiterated an “overweight” rating and issued a $33.00 price objective on shares of First Financial Bancorp. in a report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price target on First Financial Bancorp. from $31.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $30.00 price objective on shares of First Financial Bancorp. in a research report on Monday, January 27th.

Insider Buying and Selling

In other news, insider James R. Shank sold 7,600 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total value of $189,392.00. Following the completion of the sale, the insider now owns 11,141 shares of the company’s stock, valued at approximately $277,633.72. This represents a 40.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of First Financial Bancorp. during the fourth quarter valued at about $8,961,000. First Trust Advisors LP grew its holdings in shares of First Financial Bancorp. by 38.3% during the 4th quarter. First Trust Advisors LP now owns 1,186,286 shares of the bank’s stock worth $31,887,000 after acquiring an additional 328,788 shares during the period. Norges Bank purchased a new position in shares of First Financial Bancorp. during the 4th quarter worth approximately $7,827,000. Nuveen Asset Management LLC raised its position in shares of First Financial Bancorp. by 65.2% in the 4th quarter. Nuveen Asset Management LLC now owns 669,409 shares of the bank’s stock worth $17,994,000 after acquiring an additional 264,083 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of First Financial Bancorp. by 713.5% in the 4th quarter. Hsbc Holdings PLC now owns 265,843 shares of the bank’s stock valued at $7,149,000 after purchasing an additional 233,163 shares during the period. 77.23% of the stock is currently owned by institutional investors.

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.