Russell Investments Group Ltd. grew its stake in shares of First Financial Bancorp. (NASDAQ:FFBC) by 12.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,161 shares of the bank’s stock after acquiring an additional 5,048 shares during the period. Russell Investments Group Ltd. owned 0.08% of First Financial Bancorp. worth $1,306,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. US Bancorp DE lifted its position in First Financial Bancorp. by 1.3% during the second quarter. US Bancorp DE now owns 248,350 shares of the bank’s stock worth $6,880,000 after acquiring an additional 3,112 shares during the last quarter. Aperio Group LLC lifted its position in First Financial Bancorp. by 0.5% during the second quarter. Aperio Group LLC now owns 25,443 shares of the bank’s stock worth $705,000 after acquiring an additional 125 shares during the last quarter. State of Alaska Department of Revenue lifted its position in First Financial Bancorp. by 79.4% during the second quarter. State of Alaska Department of Revenue now owns 12,269 shares of the bank’s stock worth $339,000 after acquiring an additional 5,429 shares during the last quarter. GW&K Investment Management LLC acquired a new stake in First Financial Bancorp. during the second quarter worth approximately $261,000. Finally, Macquarie Group Ltd. lifted its position in First Financial Bancorp. by 1.3% during the first quarter. Macquarie Group Ltd. now owns 2,466,492 shares of the bank’s stock worth $67,705,000 after acquiring an additional 30,856 shares during the last quarter. Hedge funds and other institutional investors own 74.23% of the company’s stock.
Several equities research analysts have issued reports on the stock. BidaskClub downgraded shares of First Financial Bancorp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Stephens upgraded shares of First Financial Bancorp. from an “equal weight” rating to an “overweight” rating and set a $31.00 price target for the company in a research report on Wednesday, July 26th. ValuEngine upgraded shares of First Financial Bancorp. from a “hold” rating to a “buy” rating in a research report on Wednesday, May 31st. Zacks Investment Research downgraded shares of First Financial Bancorp. from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $28.00 price target on shares of First Financial Bancorp. in a research report on Friday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. First Financial Bancorp. currently has an average rating of “Hold” and an average target price of $28.50.
In related news, insider C Douglas Lefferson sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $25.69, for a total transaction of $1,027,600.00. Following the sale, the insider now directly owns 74,170 shares in the company, valued at approximately $1,905,427.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.88% of the company’s stock.
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First Financial Bancorp. (NASDAQ FFBC) traded up 1.08% during midday trading on Friday, hitting $23.35. 208,180 shares of the stock were exchanged. The firm has a market capitalization of $1.45 billion, a P/E ratio of 15.46 and a beta of 1.19. The firm’s 50-day moving average price is $24.94 and its 200 day moving average price is $26.66. First Financial Bancorp. has a 1-year low of $20.55 and a 1-year high of $29.80.
First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.01. The business had revenue of $85.97 million for the quarter, compared to analysts’ expectations of $89.52 million. First Financial Bancorp. had a net margin of 24.28% and a return on equity of 10.65%. During the same quarter in the previous year, the company posted $0.36 earnings per share. Analysts expect that First Financial Bancorp. will post $1.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, August 30th. First Financial Bancorp.’s payout ratio is currently 45.03%.
First Financial Bancorp. Company Profile
First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.
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