First Financial Bancorp. (NASDAQ:FFBC) Stock Price Down 3.3% – What’s Next?

First Financial Bancorp. (NASDAQ:FFBC)’s stock price fell 3.3% during mid-day trading on Friday . The stock traded as low as $24.12 and last traded at $24.59. 28,831 shares changed hands during trading, a decline of 92% from the average session volume of 365,904 shares. The stock had previously closed at $25.43.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods increased their price target on First Financial Bancorp. from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their target price on First Financial Bancorp. from $25.00 to $29.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th.

First Financial Bancorp. Stock Performance

The firm has a market capitalization of $2.33 billion, a P/E ratio of 10.03 and a beta of 0.99. The company has a 50-day moving average of $25.35 and a 200-day moving average of $23.87. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. First Financial Bancorp. had a return on equity of 10.69% and a net margin of 19.67%. The company had revenue of $302.82 million during the quarter, compared to the consensus estimate of $214.00 million. During the same period last year, the company earned $0.67 earnings per share. On average, equities analysts anticipate that First Financial Bancorp. will post 2.58 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.94%. First Financial Bancorp.’s dividend payout ratio (DPR) is currently 39.51%.

Insider Transactions at First Financial Bancorp.

In other news, insider Claude E. Davis sold 29,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $26.60, for a total transaction of $771,400.00. Following the transaction, the insider now owns 53,576 shares of the company’s stock, valued at $1,425,121.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Financial Bancorp.

Hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of First Financial Bancorp. by 94.0% in the 2nd quarter. American Century Companies Inc. now owns 338,711 shares of the bank’s stock worth $7,526,000 after purchasing an additional 164,105 shares in the last quarter. Millennium Management LLC lifted its stake in shares of First Financial Bancorp. by 162.4% in the second quarter. Millennium Management LLC now owns 242,187 shares of the bank’s stock valued at $5,381,000 after buying an additional 149,896 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of First Financial Bancorp. by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 10,939,804 shares of the bank’s stock valued at $259,820,000 after buying an additional 91,126 shares during the last quarter. Denali Advisors LLC increased its position in shares of First Financial Bancorp. by 41.1% during the second quarter. Denali Advisors LLC now owns 302,700 shares of the bank’s stock worth $6,726,000 after acquiring an additional 88,100 shares in the last quarter. Finally, Choreo LLC increased its position in shares of First Financial Bancorp. by 176.3% during the second quarter. Choreo LLC now owns 127,326 shares of the bank’s stock worth $2,820,000 after acquiring an additional 81,245 shares in the last quarter. Institutional investors own 77.23% of the company’s stock.

About First Financial Bancorp.

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.