FIRST FINANCIAL BANCORP.
In the published model solve dated 2026-Q2, anchored at $32.84, FIRST FINANCIAL BANCORP. (FFBC) is priced for 10.8% 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: 2026-07-27 (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); 2026-04-23 (items 2.02, 8.01, 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.