First Financial Bancorp. (NASDAQ:FFBC) Short Interest Update

First Financial Bancorp. (NASDAQ:FFBC) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,380,000 shares, a growth of 19.0% from the February 13th total of 1,160,000 shares. Based on an average daily volume of 419,700 shares, the short-interest ratio is presently 3.3 days. Approximately 1.5% of the company’s shares are sold short.

First Financial Bancorp. Stock Performance

Shares of FFBC stock opened at $25.03 on Thursday. The stock’s 50-day moving average is $27.03 and its two-hundred day moving average is $26.90. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 10.43 and a beta of 0.99. First Financial Bancorp. has a 1 year low of $20.59 and a 1 year high of $31.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. Analysts predict that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend was Monday, March 3rd. First Financial Bancorp.’s payout ratio is 40.00%.

Wall Street Analysts Forecast Growth

FFBC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their target price on First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Stephens reissued an “overweight” rating and issued a $33.00 target price on shares of First Financial Bancorp. in a report on Friday, January 24th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 target price on shares of First Financial Bancorp. in a report on Monday, January 27th.

Insiders Place Their Bets

In other news, insider James R. Shank sold 7,600 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total value of $189,392.00. Following the sale, the insider now directly owns 11,141 shares in the company, valued at approximately $277,633.72. This trade represents a 40.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.04% of the stock is owned by insiders.

Hedge Funds Weigh In On First Financial Bancorp.

Several hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in shares of First Financial Bancorp. during the third quarter worth about $30,000. ORG Partners LLC purchased a new position in shares of First Financial Bancorp. during the fourth quarter worth about $35,000. Allworth Financial LP purchased a new position in shares of First Financial Bancorp. during the fourth quarter worth about $44,000. Quarry LP grew its holdings in shares of First Financial Bancorp. by 68.9% during the fourth quarter. Quarry LP now owns 2,502 shares of the bank’s stock worth $67,000 after buying an additional 1,021 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of First Financial Bancorp. by 221.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank’s stock worth $73,000 after buying an additional 1,873 shares during the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

About First Financial Bancorp.

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.