First Financial Bancorp. (NASDAQ:FFBC) Short Interest Down 10.1% in October

First Financial Bancorp. (NASDAQ:FFBC) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,510,000 shares, a decline of 10.1% from the October 15th total of 1,680,000 shares. Currently, 1.6% of the shares of the company are sold short. Based on an average trading volume of 414,100 shares, the short-interest ratio is currently 3.6 days.

First Financial Bancorp. Price Performance

Shares of FFBC stock traded down $0.13 during trading hours on Tuesday, reaching $28.77. The stock had a trading volume of 73,408 shares, compared to its average volume of 374,654. The stock’s fifty day simple moving average is $25.89 and its 200 day simple moving average is $24.53. The firm has a market capitalization of $2.75 billion, a PE ratio of 12.37 and a beta of 0.99. First Financial Bancorp. has a 12 month low of $19.92 and a 12 month high of $30.11. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings results on Thursday, October 24th. The bank reported $0.67 EPS for the quarter, beating 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 firm had revenue of $302.82 million during the quarter, compared to analyst estimates of $214.00 million. During the same period in the previous year, the business earned $0.67 EPS. On average, equities research analysts predict that First Financial Bancorp. will post 2.53 EPS for the current year.

First Financial Bancorp. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.24 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.34%. First Financial Bancorp.’s payout ratio is currently 41.38%.

Wall Street Analysts Forecast Growth

FFBC has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of First Financial Bancorp. from $25.00 to $27.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their target price on shares of First Financial Bancorp. from $25.00 to $29.00 and gave the company a “sector perform” rating in a report on Monday, July 29th.

Insiders Place Their Bets

In other First Financial Bancorp. news, insider Richard S. Dennen sold 932 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $30.00, for a total value of $27,960.00. Following the completion of the sale, the insider now directly owns 74,720 shares of the company’s stock, valued at $2,241,600. This trade represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James R. Shank sold 3,700 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $26.34, for a total value of $97,458.00. Following the completion of the sale, the insider now owns 15,374 shares in the company, valued at approximately $404,951.16. The trade was a 19.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,632 shares of company stock valued at $984,748. Company insiders own 2.04% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Financial Management Professionals Inc. bought a new position in First Financial Bancorp. in the third quarter valued at $28,000. Point72 DIFC Ltd purchased a new stake in First Financial Bancorp. in the third quarter worth approximately $30,000. EntryPoint Capital LLC grew its position in First Financial Bancorp. by 63.9% during the first quarter. EntryPoint Capital LLC now owns 1,732 shares of the bank’s stock valued at $39,000 after acquiring an additional 675 shares during the last quarter. Bogart Wealth LLC lifted its holdings in shares of First Financial Bancorp. by 2,976.9% in the 3rd quarter. Bogart Wealth LLC now owns 2,000 shares of the bank’s stock worth $50,000 after acquiring an additional 1,935 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of First Financial Bancorp. by 23.1% in the 2nd quarter. Blue Trust Inc. now owns 3,340 shares of the bank’s stock valued at $75,000 after purchasing an additional 627 shares in the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

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.