First Financial Bancorp. (NASDAQ:FFBC) to Issue $0.24 Quarterly Dividend

First Financial Bancorp. (NASDAQ:FFBC) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Shareholders of record on Monday, March 3rd will be given a dividend of 0.24 per share by the bank on Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a yield of 3.46%.

First Financial Bancorp. has increased its dividend payment by an average of 0.7% annually over the last three years. First Financial Bancorp. has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Financial Bancorp. to earn $2.51 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 38.2%.

First Financial Bancorp. Stock Performance

Shares of FFBC stock traded down $0.50 during trading hours on Tuesday, reaching $27.73. 576,025 shares of the company’s stock were exchanged, compared to its average volume of 474,279. The business has a fifty day moving average price of $28.03 and a 200-day moving average price of $26.58. The stock has a market capitalization of $2.65 billion, a P/E ratio of 11.95 and a beta of 1.02. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.45. First Financial Bancorp. has a fifty-two week low of $20.59 and a fifty-two week high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. First Financial Bancorp. had a net margin of 18.55% and a return on equity of 10.32%. Analysts predict that First Financial Bancorp. will post 2.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FFBC shares. Royal Bank of Canada reissued a “sector perform” rating and set a $30.00 target price on shares of First Financial Bancorp. in a research report on Monday. Stephens reissued an “overweight” rating and set a $33.00 price objective on shares of First Financial Bancorp. in a report on Friday. Finally, Keefe, Bruyette & Woods upped their target price on First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday.

Insider Activity at First Financial Bancorp.

In related news, insider Richard S. Dennen sold 4,068 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $30.01, for a total value of $122,080.68. Following the sale, the insider now owns 70,652 shares of the company’s stock, valued at $2,120,266.52. The trade was a 5.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott T. Crawley sold 3,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.31, for a total value of $87,930.00. Following the transaction, the insider now owns 19,279 shares of the company’s stock, valued at $565,067.49. This represents a 13.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,700 shares of company stock valued at $335,429 over the last quarter. 2.04% of the stock is owned by company insiders.

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.