First Financial Bank Trust Division Sells 26,728 Shares of First Financial Bancorp. $FFBC

First Financial Bank Trust Division decreased its position in shares of First Financial Bancorp. (NASDAQ:FFBC) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 848,001 shares of the bank’s stock after selling 26,728 shares during the quarter. First Financial Bancorp. makes up approximately 1.7% of First Financial Bank Trust Division’s holdings, making the stock its 16th largest holding. First Financial Bank Trust Division’s holdings in First Financial Bancorp. were worth $21,217,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. First Horizon Corp acquired a new stake in shares of First Financial Bancorp. during the 3rd quarter worth approximately $25,000. Bogart Wealth LLC bought a new stake in shares of First Financial Bancorp. during the 3rd quarter valued at $25,000. MAI Capital Management lifted 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 during the period. Farther Finance Advisors LLC boosted its position in shares of First Financial Bancorp. by 2,741.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,790 shares of the bank’s stock worth $45,000 after purchasing an additional 1,727 shares during the last quarter. Finally, Financial Consulate Inc. bought a new position in shares of First Financial Bancorp. in the 3rd quarter worth $47,000. Institutional investors and hedge funds own 77.23% of the company’s stock.

Insider Activity at First Financial Bancorp.

In other First Financial Bancorp. news, insider Gregory A. Harris sold 1,821 shares of First Financial Bancorp. stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $29.43, for a total value of $53,592.03. Following the sale, the insider owned 42,431 shares of the company’s stock, valued at $1,248,744.33. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Karen B. Woods sold 10,000 shares of First Financial Bancorp. stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $30.28, for a total value of $302,800.00. Following the completion of the sale, the chief accounting officer directly owned 63,954 shares in the company, valued at $1,936,527.12. This represents a 13.52% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 32,141 shares of company stock valued at $969,429. 1.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FFBC shares. Royal Bank Of Canada upped their price objective on First Financial Bancorp. from $28.00 to $30.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Hovde Group boosted their target price on First Financial Bancorp. from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Weiss Ratings upgraded shares of First Financial Bancorp. from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, January 26th. Truist Financial lifted their price objective on shares of First Financial Bancorp. from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

First Financial Bancorp. Trading Down 1.3%

NASDAQ FFBC opened at $26.50 on Thursday. First Financial Bancorp. has a one year low of $21.10 and a one year high of $31.38. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $2.77 billion, a P/E ratio of 9.96 and a beta of 0.97. The stock’s 50-day moving average is $28.19 and its 200-day moving average is $26.27.

First Financial Bancorp. (NASDAQ:FFBC) last posted its earnings results on Wednesday, January 28th. The bank reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $251.30 million during the quarter, compared to analysts’ expectations of $249.00 million. First Financial Bancorp. had a return on equity of 10.77% and a net margin of 20.30%.During the same period in the prior year, the business earned $0.71 EPS. Sell-side analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, March 2nd. First Financial Bancorp.’s payout ratio is currently 37.59%.

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.