U.S. stock futures slip lower; Cook’s firing increases Fed independence worries
Cynthia Booth, a director at First Financial Bancorp (NASDAQ:FFBC), a $2.2 billion regional bank trading at 9.5x earnings, recently sold 18,609 shares of the company’s common stock. The shares were sold at an average price of $22.91 each, amounting to a total transaction value of $426,332. Following this sale, Booth retains ownership of 19,602 shares. This transaction was reported in a filing with the Securities and Exchange Commission for the period ending April 30, 2025. The stock, which currently yields 4.1% and has maintained dividend payments for 43 consecutive years, appears slightly overvalued according to InvestingPro Fair Value metrics. For deeper insights into insider trading patterns and additional analysis, subscribers can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, First Financial Bancorp reported its Q1 2025 earnings, revealing an adjusted earnings per share (EPS) of $0.63, which aligned with analysts’ expectations. However, the company experienced a revenue shortfall, reporting $200.38 million compared to the anticipated $214.8 million. This discrepancy has raised concerns about future growth drivers. Additionally, RBC Capital Markets revised its price target for First Financial Bancorp, lowering it from $30 to $27, while maintaining a Sector Perform rating. The firm noted that the bank’s first-quarter results were satisfactory despite some seasonal influences and margin pressures.
First Financial Bancorp’s non-interest expenses decreased by 3.3%, showcasing effective cost management. The bank’s net interest margin slightly contracted by 6 basis points to 3.88%, indicating pressure on profitability. Looking ahead, the company has adjusted its full-year loan growth expectations to 4-5%, down from the previous 6-7%. Analysts from RBC Capital highlighted the bank’s strategic approach to deposit pricing, which aims to mitigate the impact of potential future interest rate cuts. The company’s focus on maintaining strong capital levels and diverse revenue streams was emphasized by CEO Archie Brown during the earnings call.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.