First Financial Bancorp. (NASDAQ:FFBC) Short Interest Update

First Financial Bancorp. (NASDAQ:FFBC) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 1,160,000 shares, a decline of 15.9% from the February 28th total of 1,380,000 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily volume of 427,300 shares, the short-interest ratio is currently 2.7 days.

First Financial Bancorp. Price Performance

Shares of FFBC stock traded up $0.28 during trading hours on Wednesday, reaching $25.10. The company had a trading volume of 422,661 shares, compared to its average volume of 397,974. First Financial Bancorp. has a 12-month low of $20.59 and a 12-month high of $31.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 10.46 and a beta of 0.85. The stock has a fifty day moving average of $26.65 and a 200-day moving average of $26.88.

First Financial Bancorp. (NASDAQ:FFBC) last posted its earnings results on Thursday, January 23rd. The bank reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.06. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. On average, equities analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.24 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.96 annualized dividend and a yield of 3.82%. First Financial Bancorp.’s dividend payout ratio (DPR) is 40.00%.

Insider Transactions at First Financial Bancorp.

In related news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total value of $189,392.00. Following the sale, the insider now directly owns 11,141 shares in the company, valued at approximately $277,633.72. The trade was a 40.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.04% of the company’s stock.

Hedge Funds Weigh In On First Financial Bancorp.

Hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new stake in First Financial Bancorp. in the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new stake in shares of First Financial Bancorp. during the fourth quarter valued at about $35,000. Allworth Financial LP purchased a new stake in shares of First Financial Bancorp. in the 4th quarter valued at approximately $44,000. Quarry LP raised its stake in shares of First Financial Bancorp. by 68.9% in the 4th quarter. Quarry LP now owns 2,502 shares of the bank’s stock valued at $67,000 after acquiring an additional 1,021 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of First Financial Bancorp. by 221.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank’s stock worth $73,000 after acquiring an additional 1,873 shares during the last quarter. 77.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on FFBC. Royal Bank of Canada reiterated a “sector perform” rating and set a $30.00 price target on shares of First Financial Bancorp. in a research report on Monday, January 27th. Stephens reaffirmed an “overweight” rating and set a $33.00 target price on shares of First Financial Bancorp. in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased 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 report on Monday, January 27th.

First Financial Bancorp. Company Profile

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.