First Financial Bancorp (NASDAQ:FFBC) Director Richard E. Olszewski bought 500 shares of First Financial Bancorp stock in a transaction dated Wednesday, September 12th. The shares were bought at an average cost of $30.35 per share, with a total value of $15,175.00. Following the completion of the transaction, the director now directly owns 47,176 shares in the company, valued at $1,431,791.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

FFBC traded up $0.37 on Friday, hitting $30.32. The company’s stock had a trading volume of 14,262 shares, compared to its average volume of 218,167. The company has a market cap of $2.94 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. First Financial Bancorp has a 12 month low of $24.25 and a 12 month high of $33.70. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Monday, September 3rd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This is an increase from First Financial Bancorp’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 2.64%. First Financial Bancorp’s dividend payout ratio (DPR) is 49.69%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in First Financial Bancorp by 17.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,395,785 shares of the bank’s stock worth $42,782,000 after buying an additional 204,262 shares during the period. Advisors Asset Management Inc. bought a new position in First Financial Bancorp in the 2nd quarter worth approximately $1,113,000. GHP Investment Advisors Inc. bought a new position in First Financial Bancorp in the 2nd quarter worth approximately $236,000. California Public Employees Retirement System boosted its holdings in First Financial Bancorp by 49.1% in the 2nd quarter. California Public Employees Retirement System now owns 167,428 shares of the bank’s stock worth $5,132,000 after buying an additional 55,125 shares during the period. Finally, MetLife Investment Advisors LLC boosted its holdings in First Financial Bancorp by 58.4% in the 2nd quarter. MetLife Investment Advisors LLC now owns 44,701 shares of the bank’s stock worth $1,370,000 after buying an additional 16,487 shares during the period. 74.25% of the stock is owned by institutional investors.

A number of research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of First Financial Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. DA Davidson raised shares of First Financial Bancorp from a “neutral” rating to a “buy” rating in a research report on Thursday, July 26th. Barclays reduced their target price on shares of First Financial Bancorp from $32.00 to $31.00 and set a “$31.40” rating for the company in a research report on Monday, July 23rd. Sandler O’Neill reissued a “buy” rating and set a $35.00 target price on shares of First Financial Bancorp in a research report on Friday, July 20th. Finally, BidaskClub raised shares of First Financial Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, July 11th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.67.

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.

See Also: Outstanding Shares, Buying and Selling Stocks

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

Receive News & Ratings for First Financial Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.