On August 29, 2024, Claude Davis, Director of First Financial Bancorp (NASDAQ:FFBC), executed a sale of 29,000 shares of the company. The transaction was filed on the same day with the SEC. Following this transaction, the insider now owns 53,576 shares of First Financial Bancorp.
First Financial Bancorp operates as a regional bank serving individuals and businesses across Ohio, Indiana, and Kentucky. The bank offers a range of banking and financial services, including commercial lending, real estate loans, and deposit products.
Over the past year, the insider transaction history at First Financial Bancorp shows a total of four insider sells and no insider buys. This recent sale by Claude Davis aligns with the trend observed within the company, where insiders have been net sellers.
On the date of the sale, shares of First Financial Bancorp were priced at $26.6. This valuation brings the market cap of the company to approximately $2.53 billion. The price-earnings ratio of the stock stands at 10.91, which is slightly above the industry median but below the company’s historical median.
According to the GF Value, the intrinsic value estimate for First Financial Bancorp is $26.52 per share, making the stock Fairly Valued at a price-to-GF-Value ratio of 1. The GF Value is calculated based on historical trading multiples, an adjustment factor from GuruFocus, and future business performance estimates.
This insider sale might interest investors tracking insider behaviors as an indicator of corporate confidence and potential future stock performance. However, it is essential to consider broader market conditions and individual financial goals when interpreting insider transactions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.