It is trading at $27.50 which is marginally over the 50 day moving average of $25.38 and a tad above the 200 day moving average of $26.24. The 50 day moving average went up $2.12 or +8.37% and the 200 day average moved up $1.26. Trading volume for First Financial Bancorp. was 253K by the end of trading on Friday. Shares saw a steep decrease in trading volume of 0.43% under the normal average daily volume.
Short traders are more bearish on shares of First Financial Bancorp. recently if you take note of the uptick in short interest. The company experienced a rise in short interest of 11.68% between September 15, 2017 and September 29, 2017. Short interest grew 264,669 over that period. The short-interest ratio decreased to 7.0 and the short interest percentage is 0.04% as of September 29.
Here is a rundown on some insider market activity for First Financial Bancorp. (NASDAQ:FFBC). Matthew B. Burgess, Chief Internal Auditor disclosed the purchase of 200 shares of FFBC stock. The shares were purchased at an average price of $23.28. The Chief Internal Auditor now owns $259,678 of the stock per the Form 4 SEC filing.
These funds have shifted positions in (FFBC). State of Alaska, Department of Revenue grew its ownership by buying 70 shares an increase of 0.6%. State of Alaska, Department of Revenue now holds 12,339 shares with a value of $322,000. The value of the position overall is down by 5.0%. As of quarter end Louisiana State Employees Retirement System had sold 100 shares trimming its position 0.4%. The value of the investment in (FFBC) decreased from $701,000 to $659,000 a change of $42,000 quarter to quarter.
Capital One, National Association divested its stake by shedding 93 shares a decrease of 0.4% from 06/30/2017 to 09/30/2017. Capital One, National Association claims 25,560 shares worth $668,000. The total value of its holdings decreased 6.0%. First Financial Bank, N.a. – Trust Division cut its investment by selling 225 shares a decrease of 0.1% as of 09/30/2017. First Financial Bank, N.a. – Trust Division now controls 262,991 shares valued at $6,877,000. The total value of its holdings decreased 5.7%.
On July 27 Barclays held the company rating at “Underweight” but lowered the price expectation from $26.00 to $25.00. On July 27 the company was upgraded from “Equal-weight” to “Overweight” in an announcement from Stephens & Co..
The company is up since yesterday’s close of 26.35. First Financial Bancorp. also recently declared a dividend that was paid on Monday July 3rd, 2017. The dividend was $0.170 per share for the quarter which is $0.68 annualized. The dividend yield was $2.58. The ex-dividend date was set for Wednesday the 30th of August 2017.
The company’s P/E ratio is 18.21 and the market cap of the company is 1.71B. As of the latest earnings report the EPS was $1.51 and is expected to be $1.52 for the current year with 62,152,000 shares now outstanding. Next quarter’s EPS is estimated 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..