First Financial Bancorp. (NASDAQ:FFBC – Get Free Report) announced a quarterly dividend on Thursday, July 25th, Zacks reports. Stockholders of record on Monday, September 2nd will be paid a dividend of 0.24 per share by the bank on Monday, September 16th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from First Financial Bancorp.’s previous quarterly dividend of $0.23.
First Financial Bancorp. has a dividend payout ratio of 37.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Financial Bancorp. to earn $2.48 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 37.1%.
First Financial Bancorp. Stock Up 3.8 %
First Financial Bancorp. stock traded up $1.03 during mid-day trading on Friday, reaching $28.09. The stock had a trading volume of 672,167 shares, compared to its average volume of 451,077. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 11.33 and a beta of 1.01. The company has a 50-day moving average price of $22.77 and a two-hundred day moving average price of $22.44. First Financial Bancorp. has a one year low of $17.23 and a one year high of $28.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92.
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of First Financial Bancorp. in a research note on Tuesday, April 9th.
Check Out Our Latest Stock Analysis on First Financial Bancorp.
Insiders Place Their Bets
In other First Financial Bancorp. news, insider Richard S. Dennen sold 10,500 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $23.64, for a total value of $248,220.00. Following the completion of the transaction, the insider now owns 93,152 shares of the company’s stock, valued at approximately $2,202,113.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.04% of the stock is owned by insiders.
First Financial Bancorp. Company Profile
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.
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