First Financial Bancorp. (NASDAQ:FFBC) Hits New 1-Year High – Time to Buy?

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

Analysts Set New Price Targets

FFBC has been the subject of a number of research analyst reports. Royal Bank of Canada increased 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. Keefe, Bruyette & Woods raised their price objective on shares of First Financial Bancorp. from $25.00 to $27.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

First Financial Bancorp. Stock Performance

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $26.23 and its two-hundred day moving average price is $24.70. The firm has a market capitalization of $2.92 billion, a PE ratio of 12.87 and a beta of 0.99.

First Financial Bancorp. (NASDAQ:FFBC) last announced its 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 firm had revenue of $302.82 million for the quarter, compared to analyst estimates of $214.00 million. During the same quarter last year, the business earned $0.67 earnings per share. On average, equities analysts expect that First Financial Bancorp. will post 2.53 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 3.14%. First Financial Bancorp.’s dividend payout ratio (DPR) is currently 41.38%.

Insider Buying and Selling

In related news, insider Richard S. Dennen sold 4,068 shares of First Financial Bancorp. stock in a transaction on Monday, November 25th. The shares were sold at an average price of $30.01, for a total transaction of $122,080.68. Following the transaction, the insider now owns 70,652 shares in the company, valued at approximately $2,120,266.52. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Claude E. Davis sold 29,000 shares of First Financial Bancorp. stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $26.60, for a total transaction of $771,400.00. Following the transaction, the insider now owns 53,576 shares in the company, valued at $1,425,121.60. The trade was a 35.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,700 shares of company stock worth $1,106,829. 2.04% of the stock is owned by insiders.

Hedge Funds Weigh In On First Financial Bancorp.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. acquired a new position in shares of First Financial Bancorp. during the 3rd quarter valued at $28,000. Point72 DIFC Ltd purchased a new stake in First Financial Bancorp. during the 3rd quarter worth $30,000. EntryPoint Capital LLC increased its stake in First Financial Bancorp. by 63.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,732 shares of the bank’s stock worth $39,000 after buying an additional 675 shares during the period. Bogart Wealth LLC increased its stake in First Financial Bancorp. by 2,976.9% during the 3rd quarter. Bogart Wealth LLC now owns 2,000 shares of the bank’s stock worth $50,000 after buying an additional 1,935 shares during the period. Finally, Blue Trust Inc. increased its stake in First Financial Bancorp. by 23.1% during the 2nd quarter. Blue Trust Inc. now owns 3,340 shares of the bank’s stock worth $75,000 after buying an additional 627 shares during the period. Institutional investors and hedge funds 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.