By otakuyassine3@gmail.com 
Vanguard Group Inc. increased its stake in First Financial Bancorp. (NASDAQ:FFBC – Free Report) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,892,158 shares of the bank’s stock after purchasing an additional 72,367 shares during the period. Vanguard Group Inc. owned 0.11% of First Financial Bancorp. worth $292,781,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in FFBC. Point72 DIFC Ltd bought a new stake in shares of First Financial Bancorp. in the 3rd quarter worth $30,000. ORG Partners LLC acquired a new position in First Financial Bancorp. in the 4th quarter valued at approximately $35,000. Allworth Financial LP acquired a new stake in First Financial Bancorp. during the fourth quarter valued at $44,000. Smartleaf Asset Management LLC grew its stake in shares of First Financial Bancorp. by 221.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank’s stock valued at $73,000 after buying an additional 1,873 shares in the last quarter. Finally, Kentucky Trust Co acquired a new stake in shares of First Financial Bancorp. in the 4th quarter valued at $76,000. 77.23% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently commented on FFBC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $30.00 target price on shares of First Financial Bancorp. in a report on Monday, January 27th. Stephens reiterated an “overweight” rating and set a $33.00 price target on shares of First Financial Bancorp. in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th.
Check Out Our Latest Report on First Financial Bancorp.
Insider Activity
In other news, insider James R. Shank sold 7,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total value of $189,392.00. Following the sale, the insider now directly owns 11,141 shares in the company, valued at approximately $277,633.72. This represents a 40.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.04% of the company’s stock.
First Financial Bancorp. Trading Down 3.3 %
Shares of FFBC opened at $22.12 on Friday. The stock’s 50-day moving average price is $26.38 and its 200 day moving average price is $26.82. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 9.22 and a beta of 0.85. First Financial Bancorp. has a 12-month low of $20.59 and a 12-month high of $31.18.
First Financial Bancorp. (NASDAQ:FFBC – Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. As a group, research analysts predict that First Financial Bancorp. will post 2.64 earnings per share for the current year.
First Financial Bancorp. Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date was Monday, March 3rd. First Financial Bancorp.’s dividend payout ratio is 40.00%.
About First Financial Bancorp.
First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and related services to individuals and businesses in Ohio, Indiana, Kentucky, and Illinois. The company offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.
See Also
Want to see what other hedge funds are holding FFBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Financial Bancorp. (NASDAQ:FFBC – Free Report).
Receive News & Ratings for First Financial Bancorp. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for First Financial Bancorp. and related companies with MarketBeat.com’s FREE daily email newsletter.