First Financial Bancorp Director Makes a Buy

First Financial Bancorp Director: Richard E. Olszewski, Director at First Financial Bancorp (NASDAQ:FFBC), reported on October 15, 2013, the purchase of 442 shares of common stock, at a price of $15.04 each, for a total transaction worth $6,647 approximately. Under the company’s Directors Fee Stock Plan, Mr. Olszewski now controls 9,494 shares, in addition to the 8,135 shares of common stock under direct control. The latest acquisition has placed a total of 17,629 shares of common stock under his direct control.

Mr. Olszewski also indirectly controls another 16,233 shares of common stock: 8,291 shares are held in a joint brokerage account, another 1,400 shares are placed in an individual retirement account, while 4,922 shares are jointly controlled with the spouse, and 1,620 shares are through an undisclosed entity. Hence, Mr. Olszewski control, directly and indirectly, a total of 33,862 shares for an estimated capital investment of $519,781. Lastly, Mr. Olszewski has a stock option for 8,663 shares of common stock, set to expire on June 28, 2015.

The stock price of First Financial has been irregular throughout the last 12 months, reaching a high of $16.47 on October 17, 2012, and climbing to the same mark on August 8, 2013.

Currently, the stock is trading at 14.5 times its trailing earnings, about a point above the industry average. It pays $0.15 in the form of quarterly dividends, representing a 3.9% annual yield. Special dividends have been paid three times this year, once every three months for values of $0.13, $0.09, and $0.12. A new special dividend payment is expected for the upcoming month.

Disclosure: Jodor Jalit holds no position in any of the mentioned stocks.

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