It is currently trading at $27.50 which is marginally over $25.48, the stock’s 50 day moving average and which is slightly above the 200 day moving average of $26.23. The 50 day moving average was up $2.02 or +7.95% and the 200 day average moved up $1.27. First Financial Bancorp. shares had a trading volume of 456K by the end of trading on Tuesday. Trading volume was up 79.15% over the stocks average daily volume.
Investors are more bearish on shares of First Financial Bancorp. lately if you look at the increase in short interest. The company recorded a rise in short interest of 11.68% as of September 29, 2017 from the last reporting period. Short interest grew 264,669 over that timeframe. With short interest at 2,529,891 and short average daily volume at 357,227, the short-interest ratio is 7.0 and the percentage of shorted shares was 0.04% on September 29.
First Financial Bancorp. (NASDAQ:FFBC) has been the object of insider buying activity recently. Chief Internal Auditor Matthew B. Burgess purchased 200 shares at an average price of $23.28 on Fri the 8th. That brings Burgess’s holdings to $259,678 as reported to the SEC.
Additionally, here are a few investment firms who have increased or decreased their stake in (FFBC). As of the end of the quarter State of Alaska, Department of Revenue had acquired 70 shares growing its stake by 0.6%. The value of the company’s investment in First Financial Bancorp. decreased from $339,000 to $322,000 decreasing 5.0% since the last quarter. As of quarter end Louisiana State Employees Retirement System had sold a total of 100 shares trimming its holdings by 0.4%. The value of the investment in First Financial Bancorp. went from $701,000 to $659,000 a change of $42,000 quarter over quarter.
Capital One, National Association cut its ownership by shedding 93 shares a decrease of 0.4% from 06/30/2017 to 09/30/2017. Capital One, National Association now holds 25,560 shares with a value of $668,000. The total value of its holdings decreased 6.0%. First Financial Bank, N.a. – Trust Division trimmed its stake by selling 225 shares a decrease of 0.1%. First Financial Bank, N.a. – Trust Division claims 262,991 shares worth $6,877,000. The value of the position overall is down by 5.7%.
On July 27 Barclays left the company rating at “Underweight” and lowered the price expectation from $26.00 to $25.00. On July 27 the company was set at “Overweight” in a report from Stephens & Co. which was a boost from the previous “Equal-weight” rating.
October 23 investment analysts at Barclays made no change to the stock rating of “Underweight” and raised the price target to $27.00 from $25.00.
The company is trading unchanged since yesterday’s close of 27.50. First Financial Bancorp. recently announced a dividend for shareholders that was paid on Monday the 3rd of July 2017. The dividend payment was $0.170 per share for the quarter which is $0.68 annualized. This dividend represents a yield of $2.58. The ex-dividend date was set for Wednesday the 30th of August 2017.
The company currently has a P/E ratio of 18.21 and market cap is 1.71B. As of the latest earnings report the EPS was $1.51 and is expected to be $1.53 for the current year with 62,152,000 shares presently outstanding. Next quarter’s EPS is forecasted at $0.38 with next year’s EPS projected to be $1.79.
First Financial Bancorp. (First Financial), launched on August 2, 1982, is a regional bank holding company. First Financial is involved in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses includes commercial lending, real estate lending and consumer financing. In addition, First Financial offers deposit products that include interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers. First Financial’s Wealth Management division provides a range of trust and asset management services. As of December 31, 2016, the Company operated 102 banking centers. The Business’s banking operating markets are located within the three state region of Ohio, Indiana and Kentucky. As of December 31, 2016, the Company operated 60 banking centers in Ohio, 38 banking centers in Indiana and four banking centers in Kentucky. In addition, the Company operates its Commercial Finance division, responsible for its insurance lending business and franchise lending business, from a non-banking center location in Indiana with additional franchise lending operation related services located in New Jersey..