First Financial Bancorp. (NASDAQ:FFBC) Reaches New 52-Week Low - Should You Sell?

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $22.63 and last traded at $23.15, with a volume of 471101 shares trading hands. The stock had previously closed at $23.42.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price target on shares of First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods cut their price target on First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Finally, Stephens reaffirmed an "overweight" rating and set a $33.00 price objective on shares of First Financial Bancorp. in a research report on Friday, January 24th.

First Financial Bancorp. Stock Up 2.8 %

The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90. The company's 50-day moving average price is $24.15 and its 200 day moving average price is $26.50. The stock has a market capitalization of $2.29 billion, a P/E ratio of 10.00 and a beta of 0.94.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. The business had revenue of $201.59 million for the quarter, compared to the consensus estimate of $214.80 million. During the same period in the previous year, the business earned $0.59 earnings per share. The business's revenue was up 2.6% on a year-over-year basis. As a group, equities analysts expect that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.24 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.96 annualized dividend and a yield of 4.00%. First Financial Bancorp.'s payout ratio is 39.83%.

Insider Activity

In other First Financial Bancorp. news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. 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 sale, the insider now directly owns 11,141 shares in the company, valued at approximately $277,633.72. The trade was a 40.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.04% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FFBC. Raymond James Financial Inc. bought a new stake in shares of First Financial Bancorp. in the 4th quarter worth about $8,961,000. First Trust Advisors LP boosted its position in First Financial Bancorp. by 38.3% in the 4th quarter. First Trust Advisors LP now owns 1,186,286 shares of the bank's stock valued at $31,887,000 after buying an additional 328,788 shares during the period. Norges Bank bought a new position in First Financial Bancorp. in the fourth quarter worth approximately $7,827,000. Nuveen Asset Management LLC increased its stake in shares of First Financial Bancorp. by 65.2% during the fourth quarter. Nuveen Asset Management LLC now owns 669,409 shares of the bank's stock valued at $17,994,000 after buying an additional 264,083 shares during the period. Finally, Hsbc Holdings PLC raised its holdings 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 in the last quarter. 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.