First Financial Bancorp. (NASDAQ:FFBC) Sets New 52-Week High – What’s Next?

First Financial Bancorp. (NASDAQ:FFBC) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $30.89 and last traded at $30.75, with a volume of 21396 shares traded. The stock had previously closed at $29.86.

First Financial Bancorp. Trading Down 1.7 %

The company has a debt-to-equity ratio of 0.45, a current ratio of 0.91 and a quick ratio of 0.91. The business’s fifty day simple moving average is $26.33 and its 200 day simple moving average is $24.75. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 12.85 and a beta of 0.99.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings results 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 net margin of 18.55% and a return on equity of 10.32%. The company had revenue of $302.82 million for the quarter, compared to the consensus estimate of $214.00 million. During the same period last year, the firm posted $0.67 EPS. On average, research analysts predict that First Financial Bancorp. will post 2.53 EPS for the current year.

First Financial Bancorp. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Monday, December 2nd. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 41.38%.

Insider Transactions at First Financial Bancorp.

In related news, insider Claude E. Davis sold 29,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $26.60, for a total transaction of $771,400.00. Following the completion of the transaction, the insider now directly owns 53,576 shares in the company, valued at $1,425,121.60. This represents a 35.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard S. Dennen sold 4,068 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $30.01, for a total value of $122,080.68. Following the completion of the sale, the insider now owns 70,652 shares in the company, valued at $2,120,266.52. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,700 shares of company stock worth $1,106,829. 2.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FFBC. CANADA LIFE ASSURANCE Co increased its stake in shares of First Financial Bancorp. by 4.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 99,222 shares of the bank’s stock valued at $2,223,000 after purchasing an additional 4,157 shares during the period. Price T Rowe Associates Inc. MD increased its position in First Financial Bancorp. by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 75,665 shares of the bank’s stock valued at $1,697,000 after acquiring an additional 3,332 shares during the period. Hancock Whitney Corp raised its stake in First Financial Bancorp. by 17.1% during the 1st quarter. Hancock Whitney Corp now owns 25,937 shares of the bank’s stock valued at $582,000 after acquiring an additional 3,794 shares in the last quarter. Comerica Bank boosted its position in First Financial Bancorp. by 11.4% during the 1st quarter. Comerica Bank now owns 63,335 shares of the bank’s stock worth $1,420,000 after acquiring an additional 6,460 shares during the period. Finally, QRG Capital Management Inc. grew its stake in shares of First Financial Bancorp. by 10.1% in the second quarter. QRG Capital Management Inc. now owns 33,425 shares of the bank’s stock worth $743,000 after purchasing an additional 3,067 shares in the last quarter. 77.23% of the stock is owned by institutional investors and hedge funds.

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.