First Financial Bancorp (FFBC) Director Jeffrey D. Meyer Sells 5,000 Shares
First Financial Bancorp (NASDAQ:FFBC) Director Jeffrey D. Meyer sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $24.79, for a total value of $123,950.00. Following the completion of the sale, the director now directly owns 31,205 shares of the company’s stock, valued at $773,571.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
First Financial Bancorp (NASDAQ:FFBC) traded up 1.59% on Thursday, reaching $25.55. The company’s stock had a trading volume of 108,730 shares. The firm has a market capitalization of $1582.98 billion, a price-to-earnings ratio of 18.65 and a beta of 1.07. The company has a 50 day moving average of $21.92 and a 200 day moving average of $20.83. First Financial Bancorp has a 52 week low of $13.76 and a 52 week high of $25.65.
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 the Thomson Reuters’ consensus estimate of $0.36 by $0.01. First Financial Bancorp had a return on equity of 10.17% and a net margin of 23.05%. During the same quarter last year, the company posted $0.30 earnings per share. On average, analysts forecast that First Financial Bancorp will post $1.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 2nd will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.54%. First Financial Bancorp’s dividend payout ratio (DPR) is presently 46.72%.
Several equities research analysts have recently issued reports on FFBC shares. Hilliard Lyons lowered First Financial Bancorp from a “buy” rating to a “neutral” rating in a research note on Monday, July 25th. Barclays PLC raised their price target on First Financial Bancorp from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Monday, July 25th. Keefe, Bruyette & Woods raised their price target on First Financial Bancorp from $19.00 to $21.00 and gave the stock a “market perform” rating in a research note on Monday, July 25th. Zacks Investment Research raised First Financial Bancorp from a “sell” rating to a “hold” rating and set a $24.00 price target for the company in a research note on Monday, July 25th. Finally, Piper Jaffray Cos. initiated coverage on First Financial Bancorp in a research note on Thursday, October 6th. They set a “neutral” rating and a $23.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $20.81.
Several large investors have recently bought and sold shares of the stock. Panagora Asset Management Inc. raised its stake in First Financial Bancorp by 17.5% in the third quarter. Panagora Asset Management Inc. now owns 13,796 shares of the company’s stock worth $301,000 after buying an additional 2,058 shares during the period. The Manufacturers Life Insurance Company bought a new stake in First Financial Bancorp during the third quarter worth about $20,071,000. Johnson Investment Counsel Inc. raised its stake in First Financial Bancorp by 3.0% in the third quarter. Johnson Investment Counsel Inc. now owns 265,160 shares of the company’s stock worth $5,791,000 after buying an additional 7,633 shares during the period. Anchor Capital Advisors LLC raised its stake in First Financial Bancorp by 1.8% in the third quarter. Anchor Capital Advisors LLC now owns 60,289 shares of the company’s stock worth $1,317,000 after buying an additional 1,048 shares during the period. Finally, KCG Holdings Inc. bought a new stake in First Financial Bancorp during the third quarter worth about $302,000. Institutional investors and hedge funds own 72.78% of the company’s stock.
First Financial Bancorp Company Profile
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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