Archie Brown Sells 10,000 Shares of First Financial Bancorp. (NASDAQ:FFBC) Stock

First Financial Bancorp. (NASDAQ:FFBC) CEO Archie Brown sold 10,000 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $30.93, for a total value of $309,300.00. Following the sale, the chief executive officer owned 243,758 shares in the company, valued at $7,539,434.94. The trade was a 3.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

First Financial Bancorp. Price Performance

FFBC traded up $0.56 during midday trading on Tuesday, hitting $31.38. The company had a trading volume of 1,033,781 shares, compared to its average volume of 926,364. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $3.29 billion, a PE ratio of 11.09 and a beta of 0.93. First Financial Bancorp. has a twelve month low of $22.93 and a twelve month high of $31.74. The firm’s 50-day simple moving average is $29.78 and its 200-day simple moving average is $28.05.

First Financial Bancorp. Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.2%. First Financial Bancorp.’s dividend payout ratio (DPR) is currently 35.34%.

Institutional Investors Weigh In On First Financial Bancorp.

Several institutional investors have recently modified their holdings of the business. Waverly Advisors LLC grew its position in shares of First Financial Bancorp. by 0.8% during the 1st quarter. Waverly Advisors LLC now owns 46,429 shares of the bank’s stock worth $1,294,000 after buying an additional 376 shares during the period. Kestra Advisory Services LLC grew its position in shares of First Financial Bancorp. by 2.9% during the 1st quarter. Kestra Advisory Services LLC now owns 13,736 shares of the bank’s stock worth $383,000 after buying an additional 381 shares during the period. Stifel Financial Corp grew its position in shares of First Financial Bancorp. by 1.5% during the 4th quarter. Stifel Financial Corp now owns 26,260 shares of the bank’s stock worth $657,000 after buying an additional 389 shares during the period. TD Private Client Wealth LLC grew its position in shares of First Financial Bancorp. by 14.2% during the 4th quarter. TD Private Client Wealth LLC now owns 3,309 shares of the bank’s stock worth $83,000 after buying an additional 412 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of First Financial Bancorp. by 19.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,903 shares of the bank’s stock worth $74,000 after purchasing an additional 472 shares during the last quarter. Institutional investors and hedge funds own 77.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FFBC. Royal Bank Of Canada raised their price target on shares of First Financial Bancorp. from $30.00 to $32.00 and gave the company a “sector perform” rating in a report on Monday, April 27th. Stephens started coverage on First Financial Bancorp. in a research note on Friday, March 27th. They issued an “overweight” rating and a $33.00 target price for the company. Wall Street Zen raised First Financial Bancorp. from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial lifted their target price on First Financial Bancorp. from $30.00 to $33.00 and gave the company a “hold” rating in a research note on Monday, April 27th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $34.00 target price on shares of First Financial Bancorp. in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

First Financial Bancorp. Company Profile

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.