On May 15, 2024, Richard Dennen, the Chief Corp. Banking Officer of First Financial Bancorp (FFBC, Financial), sold 10,500 shares of the company. The transaction was reported in a recent SEC Filing. Following this sale, the insider has sold a total of 22,140 shares over the past year, with no recorded purchases.
First Financial Bancorp operates as a bank holding company, which through its subsidiary, First Financial Bank, provides banking and financial services products. The company's services include commercial lending, real estate lending, and consumer financing.
The shares were sold at a price of $23.64, valuing the transaction at approximately $248,220. This sale occurred at a time when the stock has a market cap of approximately $2.27 billion and trades with a price-earnings ratio of 9.57. This ratio is slightly lower than the industry median of 9.67 and also below the company's historical median.
According to the GF Value, the intrinsic value of First Financial Bancorp's stock is estimated at $28.29, suggesting that the stock is Modestly Undervalued with a price-to-GF-Value ratio of 0.84.
The insider transaction history for First Financial Bancorp shows a trend of more sales than purchases among insiders over the past year, with three insider sales and no buys.
This recent sale by the insider might interest investors looking at the trading behaviors of company executives, especially in the context of the stock's valuation metrics and market performance.
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