Insider Selling: First Financial Bancorp. (NASDAQ:FFBC) Insider Sells 26,123 Shares of Stock

Key Points

• Insider Claude Davis sold 26,123 shares of First Financial Bancorp at an average price of $30.45 for $795,445, reducing his stake by 46.21% to 30,410 shares, according to an SEC filing.
• The company declared a quarterly dividend of $0.25 (annualized $1.00) yielding about 3.3%, with an ex-dividend date of June 1 and a payment date of June 15.
• Shares traded at $30.41 (up 0.4%) with a market cap of $3.19B and a P/E of 10.75; analysts show a consensus rating of Moderate Buy and an average price target of $33.00.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) insider Claude Davis sold 26,123 shares of First Financial Bancorp. stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $30.45, for a total value of $795,445.35. Following the completion of the transaction, the insider owned 30,410 shares in the company, valued at $925,984.50. This trade represents a 46.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

First Financial Bancorp. Stock Up 0.4%

Shares of NASDAQ:FFBC traded up $0.13 during trading on Friday, reaching $30.41. The stock had a trading volume of 662,416 shares, compared to its average volume of 954,377. The firm's 50-day simple moving average is $28.43 and its 200 day simple moving average is $26.89. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.32. First Financial Bancorp. has a one year low of $22.93 and a one year high of $31.38. The company has a market capitalization of $3.19 billion, a P/E ratio of 10.75 and a beta of 0.94.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last posted its earnings results on Wednesday, January 28th. The bank reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.02. The company had revenue of $251.30 million during the quarter, compared to analysts' expectations of $249.00 million. First Financial Bancorp. had a net margin of 20.92% and a return on equity of 11.09%. During the same quarter in the prior year, the company posted $0.71 earnings per share. As a group, research analysts expect that First Financial Bancorp. will post 3.26 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, June 1st. First Financial Bancorp.'s dividend payout ratio is 35.34%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FFBC. Hovde Group increased their price objective on shares of First Financial Bancorp. from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Friday, January 30th. Truist Financial increased their price target on First Financial Bancorp. from $30.00 to $33.00 and gave the stock a "hold" rating in a research report on Monday. Stephens initiated coverage on First Financial Bancorp. in a research note on Friday, March 27th. They set an "overweight" rating and a $33.00 price objective for the company. Keefe, Bruyette & Woods boosted their price objective on First Financial Bancorp. from $31.00 to $32.00 and gave the company a "market perform" rating in a report on Friday, January 30th. Finally, Raymond James Financial restated an "outperform" rating and issued a $34.00 target price on shares of First Financial Bancorp. in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Institutional Trading of First Financial Bancorp.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FFBC. First Horizon Corp acquired a new position in shares of First Financial Bancorp. in the third quarter worth about $25,000. Rockefeller Capital Management L.P. grew its position in shares of First Financial Bancorp. by 137.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 991 shares of the bank's stock valued at $25,000 after acquiring an additional 574 shares during the period. Bogart Wealth LLC purchased a new position in shares of First Financial Bancorp. in the 3rd quarter valued at about $25,000. MAI Capital Management increased its stake in shares of First Financial Bancorp. by 530.6% in the 3rd quarter. MAI Capital Management now owns 1,545 shares of the bank's stock valued at $39,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in First Financial Bancorp. by 38.7% in the 4th quarter. Hantz Financial Services Inc. now owns 1,743 shares of the bank's stock worth $44,000 after purchasing an additional 486 shares during the period. Institutional investors and hedge funds own 77.23% of the company's stock.

About First Financial Bancorp.

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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