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

First Financial Bancorp. (NASDAQ:FFBC) CEO Archie Brown sold 10,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $30.93, for a total transaction of $309,300.00. Following the completion of the sale, the chief executive officer directly owned 243,758 shares in the company, valued at $7,539,434.94. This trade represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

First Financial Bancorp. Price Performance

Shares of NASDAQ:FFBC traded up $0.56 during midday trading on Tuesday, reaching $31.38. 1,033,781 shares of the company’s stock were exchanged, compared to its average volume of 926,364. The company’s 50 day simple moving average is $29.78 and its two-hundred day simple moving average is $28.05. The firm 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 12 month low of $22.93 and a 12 month high of $31.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.84 and a current ratio of 0.84.

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. First Financial Bancorp.’s dividend payout ratio is 35.34%.

Analyst Upgrades and Downgrades

FFBC has been the subject of several analyst reports. Truist Financial raised their target price on First Financial Bancorp. from $30.00 to $33.00 and gave the stock a “hold” rating in a research 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 price target on the stock. Royal Bank Of Canada boosted their price target on First Financial Bancorp. from $30.00 to $32.00 and gave the company a “sector perform” rating in a research note on Monday, April 27th. Wall Street Zen raised First Financial Bancorp. from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $34.00 price target on shares of First Financial Bancorp. in a research note on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, First Financial Bancorp. has an average rating of “Moderate Buy” and an average price target of $33.00.

Institutional Trading of First Financial Bancorp.

Several institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its holdings in First Financial Bancorp. by 137.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 991 shares of the bank’s stock valued at $25,000 after purchasing an additional 574 shares in the last quarter. First Horizon Corp boosted its stake in First Financial Bancorp. by 56.0% in the fourth quarter. First Horizon Corp now owns 1,526 shares of the bank’s stock worth $38,000 after purchasing an additional 548 shares in the last quarter. MAI Capital Management grew its holdings in shares of First Financial Bancorp. by 530.6% during the third quarter. MAI Capital Management now owns 1,545 shares of the bank’s stock worth $39,000 after purchasing an additional 1,300 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of First Financial Bancorp. by 38.7% during the fourth quarter. Hantz Financial Services Inc. now owns 1,743 shares of the bank’s stock worth $44,000 after purchasing an additional 486 shares during the last quarter. Finally, Smithfield Trust Co bought a new stake in shares of First Financial Bancorp. during the fourth quarter worth $50,000. Institutional investors and hedge funds own 77.23% of the company’s stock.

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.