FIRST FINANCIAL BANCORP.
In the published model solve dated 2026-Q2, anchored at $31.51, FIRST FINANCIAL BANCORP. (FFBC) is priced for 10.5% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 26, 2026 from SEC EDGAR filings.
• Roughly two fifths of First Financial's stated book value per share is goodwill and other intangibles, the accumulated price of a decade of deals, which is why the ordinary book-value lens and the tangible-book lens disagree about this bank by nearly a factor of two. • Fee income is unusually large for a bank of this size and unusually lumpy: foreign exchange contributed 13.1 million dollars in the June quarter, against ⟦"Foreign exchange income increased by $6.0 million, or 36.2% from the thi
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291 institutional managers reported holding FFBC in 13F filings for the quarter ended 2026-03-31. Together they hold about 82% of the company; the top 10 hold 53%. 45 opened new positions that quarter. Held by BlackRock, Vanguard Group, Dimensional Fund Advisors, among others. On the short side, 3.9M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (4.2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
FFBC's share count grew 7.9% over the past five years even with $57.23M spent on repurchases. It pays a dividend, and has paid one every year in our records (16 and counting), raised 2 years straight; the current rate is $0.98 a share annually. Cash returned over the past three years: $253.58M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at FFBC over the trailing three years: 2025: 1 buy totaling $16k. 21 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
FFBC's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-05 | -5.4% | -15.1% |
| 2023-11-04 | -8.4% | +14.5% |
| 2024-02-23 | -3.6% | +3.4% |
| 2024-05-10 | +0.2% | -0.8% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
FFBC's latest 8-K filings: 2026-09-15 (items 5.02, 7.01, 9.01); 2026-07-27 (items 7.01, 9.01); 2026-07-21 (items 1.01, 2.02, 7.01, 9.01); 2026-05-29 (items 5.02, 5.07, 9.01); 2026-05-22 (items 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 26, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.