Richard E. Olszewski Acquires 500 Shares of First Financial Bancorp (FFBC) Stock

First Financial Bancorp (NASDAQ:FFBC) Director Richard E. Olszewski purchased 500 shares of the company’s stock in a transaction on Wednesday, September 12th. The shares were bought at an average price of $30.35 per share, for a total transaction of $15,175.00. Following the completion of the transaction, the director now directly owns 47,176 shares in the company, valued at approximately $1,431,791.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of FFBC traded up $0.50 during mid-day trading on Friday, hitting $30.45. The company’s stock had a trading volume of 365,994 shares, compared to its average volume of 218,167. The stock has a market capitalization of $2.94 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. First Financial Bancorp has a fifty-two week low of $24.25 and a fifty-two week high of $33.70.

First Financial Bancorp (NASDAQ:FFBC) last announced its quarterly earnings data on Thursday, July 19th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.05. The company had revenue of $152.20 million for the quarter, compared to analysts’ expectations of $147.77 million. First Financial Bancorp had a net margin of 25.41% and a return on equity of 12.13%. The business’s revenue was up 77.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS. equities research analysts forecast that First Financial Bancorp will post 2.25 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Monday, September 3rd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.63%. This is a boost from First Financial Bancorp’s previous quarterly dividend of $0.19. First Financial Bancorp’s payout ratio is currently 49.69%.

FFBC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of First Financial Bancorp from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Wednesday, August 8th. BidaskClub upgraded shares of First Financial Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, July 11th. Barclays dropped their price target on shares of First Financial Bancorp from $32.00 to $31.00 and set a “$31.40” rating on the stock in a research report on Monday, July 23rd. Sandler O’Neill restated a “buy” rating and set a $35.00 price target on shares of First Financial Bancorp in a research report on Friday, July 20th. Finally, DA Davidson upgraded shares of First Financial Bancorp from a “neutral” rating to a “buy” rating in a research report on Thursday, July 26th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $31.67.

Several institutional investors and hedge funds have recently made changes to their positions in FFBC. Wells Fargo & Company MN grew its stake in shares of First Financial Bancorp by 13.3% in the 1st quarter. Wells Fargo & Company MN now owns 193,508 shares of the bank’s stock worth $5,679,000 after purchasing an additional 22,746 shares during the last quarter. Rhumbline Advisers grew its stake in shares of First Financial Bancorp by 1.1% in the 1st quarter. Rhumbline Advisers now owns 151,601 shares of the bank’s stock worth $4,449,000 after purchasing an additional 1,678 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of First Financial Bancorp in the 1st quarter worth approximately $207,000. SG Americas Securities LLC acquired a new position in shares of First Financial Bancorp in the 1st quarter worth approximately $120,000. Finally, Prudential Financial Inc. grew its stake in shares of First Financial Bancorp by 32.8% in the 1st quarter. Prudential Financial Inc. now owns 482,900 shares of the bank’s stock worth $14,173,000 after purchasing an additional 119,225 shares during the last quarter. 74.25% of the stock is currently owned by institutional investors.

First Financial Bancorp Company Profile

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

Further Reading: Earnings Per Share

Insider Buying and Selling by Quarter for First Financial Bancorp (NASDAQ:FFBC)

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