First Financial Bancorp. (NASDAQ:FFBC) Director Purchases $15,604.50 in Stock

First Financial Bancorp. (NASDAQ:FFBC) Director Anne Arvia acquired 618 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were bought at an average cost of $25.25 per share, for a total transaction of $15,604.50. Following the acquisition, the director owned 9,551 shares of the company’s stock, valued at $241,162.75. This represents a 6.92% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

First Financial Bancorp. Trading Up 2.3%

Shares of First Financial Bancorp. stock opened at $26.07 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $25.46 and a 200-day simple moving average of $24.57. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 10.43 and a beta of 0.96. First Financial Bancorp. has a 12-month low of $21.10 and a 12-month high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. First Financial Bancorp. had a net margin of 19.41% and a return on equity of 10.57%. The firm had revenue of $226.30 million during the quarter, compared to analysts’ expectations of $219.95 million. During the same period in the previous year, the company earned $0.64 earnings per share. On average, equities analysts forecast that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. This is a boost from First Financial Bancorp.’s previous quarterly dividend of $0.24. First Financial Bancorp.’s dividend payout ratio (DPR) is 40.00%.

Wall Street Analyst Weigh In

FFBC has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $28.00 price objective (up previously from $27.00) on shares of First Financial Bancorp. in a research note on Monday, July 28th. Stephens reiterated an “overweight” rating and set a $29.00 price target on shares of First Financial Bancorp. in a research note on Friday, June 27th. Wall Street Zen raised shares of First Financial Bancorp. from a “sell” rating to a “hold” rating in a research report on Sunday, July 20th. Truist Financial upped their target price on shares of First Financial Bancorp. from $28.00 to $29.00 and gave the company a “hold” rating in a report on Friday. Finally, Hovde Group assumed coverage on shares of First Financial Bancorp. in a research note on Tuesday, August 19th. They set an “outperform” rating and a $31.00 target price for the company. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

Institutional Investors Weigh In On First Financial Bancorp.

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in First Financial Bancorp. by 43.9% during the first quarter. GAMMA Investing LLC now owns 1,522 shares of the bank’s stock worth $38,000 after purchasing an additional 464 shares in the last quarter. CWM LLC raised its stake in shares of First Financial Bancorp. by 24.4% during the 1st quarter. CWM LLC now owns 2,201 shares of the bank’s stock worth $55,000 after buying an additional 432 shares during the last quarter. Allworth Financial LP boosted its position in shares of First Financial Bancorp. by 75.4% in the 2nd quarter. Allworth Financial LP now owns 3,102 shares of the bank’s stock worth $75,000 after buying an additional 1,333 shares in the last quarter. Federated Hermes Inc. acquired a new stake in First Financial Bancorp. in the 1st quarter valued at about $78,000. Finally, TD Private Client Wealth LLC increased its holdings in First Financial Bancorp. by 36.5% during the 1st quarter. TD Private Client Wealth LLC now owns 3,570 shares of the bank’s stock valued at $89,000 after acquiring an additional 954 shares in the last quarter. Institutional investors and hedge funds 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.