First Financial Bancorp (FFBC) CEO Claude E. Davis Sells 41,020 Shares of Stock
First Financial Bancorp (NASDAQ:FFBC) CEO Claude E. Davis sold 41,020 shares of the company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $22.33, for a total value of $915,976.60. Following the sale, the chief executive officer now owns 260,845 shares of the company’s stock, valued at $5,824,668.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of First Financial Bancorp (NASDAQ:FFBC) opened at 24.75 on Tuesday. First Financial Bancorp has a 52 week low of $13.76 and a 52 week high of $25.40. The firm has a market capitalization of $1.53 billion, a P/E ratio of 18.07 and a beta of 1.07. The stock’s 50 day moving average price is $21.73 and its 200 day moving average price is $20.75.
First Financial Bancorp (NASDAQ:FFBC) last posted its quarterly earnings data on Thursday, October 20th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. First Financial Bancorp had a net margin of 23.05% and a return on equity of 10.17%. During the same period last year, the business posted $0.30 earnings per share. On average, analysts predict that First Financial Bancorp will post $1.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Wednesday, November 30th. First Financial Bancorp’s dividend payout ratio (DPR) is currently 46.72%.
A number of analysts have recently commented on FFBC shares. Piper Jaffray Cos. started coverage on First Financial Bancorp in a report on Thursday, October 6th. They set a “neutral” rating and a $23.00 price objective for the company. Zacks Investment Research upgraded First Financial Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, October 12th. Barclays PLC increased their price target on First Financial Bancorp from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday, October 11th. Raymond James Financial Inc. downgraded First Financial Bancorp from an “outperform” rating to a “market perform” rating in a report on Thursday, October 6th. Finally, Hilliard Lyons downgraded First Financial Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $20.81.
Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new stake in shares of First Financial Bancorp during the third quarter worth about $20,071,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of First Financial Bancorp by 30.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,616,200 shares of the company’s stock worth $50,886,000 after buying an additional 617,425 shares during the period. BlackRock Fund Advisors raised its stake in shares of First Financial Bancorp by 8.3% in the third quarter. BlackRock Fund Advisors now owns 4,384,049 shares of the company’s stock worth $95,748,000 after buying an additional 337,717 shares during the period. Vanguard Group Inc. raised its stake in shares of First Financial Bancorp by 4.5% in the second quarter. Vanguard Group Inc. now owns 4,949,538 shares of the company’s stock worth $96,269,000 after buying an additional 213,416 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in shares of First Financial Bancorp during the second quarter worth about $3,726,000. 72.78% of the stock is owned by institutional investors.
About First Financial Bancorp
First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.
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