Deutsche Bank AG Reduces Holdings in First Financial Bancorp (NASDAQ:FFBC)

Deutsche Bank AG trimmed its position in shares of First Financial Bancorp (NASDAQ:FFBC) by 41.7% in the 1st quarter, Holdings Channel reports. The firm owned 56,145 shares of the bank’s stock after selling 40,217 shares during the period. Deutsche Bank AG’s holdings in First Financial Bancorp were worth $838,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FFBC. Norges Bank purchased a new stake in shares of First Financial Bancorp during the fourth quarter worth approximately $30,842,000. Macquarie Group Ltd. increased its position in shares of First Financial Bancorp by 12.4% during the fourth quarter. Macquarie Group Ltd. now owns 6,252,191 shares of the bank’s stock worth $159,062,000 after purchasing an additional 691,416 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of First Financial Bancorp by 71.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 944,201 shares of the bank’s stock worth $24,020,000 after purchasing an additional 394,486 shares in the last quarter. State Street Corp increased its position in shares of First Financial Bancorp by 7.1% during the first quarter. State Street Corp now owns 3,809,683 shares of the bank’s stock worth $56,802,000 after purchasing an additional 253,758 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of First Financial Bancorp by 9.3% during the fourth quarter. Bank of New York Mellon Corp now owns 1,539,288 shares of the bank’s stock worth $39,158,000 after purchasing an additional 130,331 shares in the last quarter. Hedge funds and other institutional investors own 76.78% of the company’s stock.

Several analysts recently commented on the company. TheStreet cut First Financial Bancorp from a “b-” rating to a “c” rating in a research report on Monday, March 9th. ValuEngine cut First Financial Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. BidaskClub upgraded First Financial Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Finally, Zacks Investment Research upgraded First Financial Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $26.00.

Shares of NASDAQ:FFBC opened at $13.62 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $13.37 and a two-hundred day moving average of $18.59. The stock has a market cap of $1.25 billion, a P/E ratio of 7.48 and a beta of 1.21. First Financial Bancorp has a 52-week low of $10.83 and a 52-week high of $26.19.

First Financial Bancorp (NASDAQ:FFBC) last issued its earnings results on Monday, April 20th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.08). The company had revenue of $149.67 million during the quarter, compared to analysts’ expectations of $153.27 million. First Financial Bancorp had a net margin of 24.60% and a return on equity of 8.82%. On average, equities analysts anticipate that First Financial Bancorp will post 1.29 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date of this dividend was Friday, May 29th. First Financial Bancorp’s dividend payout ratio is presently 42.99%.

First Financial Bancorp Profile

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 accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers.

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Institutional Ownership by Quarter for First Financial Bancorp (NASDAQ:FFBC)

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