First Financial Bancorp. (NASDAQ:FFBC) Short Interest Up 19.0% in February

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 1,380,000 shares, an increase 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 currently 3.3 days. Currently, 1.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

FFBC has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $30.00 price objective on shares of First Financial Bancorp. in a research note on Monday, January 27th. Stephens reissued an "overweight" rating and issued a $33.00 price target on shares of First Financial Bancorp. in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their price target on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the stock a "market perform" rating in a research report on Monday, January 27th.

First Financial Bancorp. Stock Performance

Shares of NASDAQ FFBC remained flat at $24.75 during mid-day trading on Friday. 1,031,445 shares of the stock were exchanged, compared to its average volume of 363,323. The business has a 50-day simple moving average of $26.98 and a two-hundred day simple moving average of $26.87. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $2.36 billion, a P/E ratio of 10.31 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.

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First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.06. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. Sell-side analysts forecast that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.88%. The ex-dividend date was Monday, March 3rd. First Financial Bancorp.'s payout ratio is presently 40.00%.

Insider Activity

In other First Financial Bancorp. news, insider James R. Shank sold 7,600 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total transaction of $189,392.00. Following the completion of the sale, the insider now directly owns 11,141 shares of the company's stock, valued at approximately $277,633.72. This represents a 40.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.04% of the company's stock.

Hedge Funds Weigh In On First Financial Bancorp.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FFBC. Point72 DIFC Ltd bought a new position in First Financial Bancorp. during the third quarter valued at approximately $30,000. ORG Partners LLC acquired a new position in First Financial Bancorp. during the fourth quarter valued at approximately $35,000. Allworth Financial LP acquired a new position in First Financial Bancorp. during the fourth quarter valued at approximately $44,000. Quarry LP grew its holdings in First Financial Bancorp. by 68.9% during the fourth quarter. Quarry LP now owns 2,502 shares of the bank's stock valued at $67,000 after purchasing an additional 1,021 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in First Financial Bancorp. by 221.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank's stock valued at $73,000 after purchasing an additional 1,873 shares during the last quarter. 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.