First Trust Advisors LP Acquires 328,788 Shares of First Financial Bancorp. (NASDAQ:FFBC)

First Trust Advisors LP boosted its stake in shares of First Financial Bancorp. (NASDAQ:FFBC) by 38.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,186,286 shares of the bank’s stock after buying an additional 328,788 shares during the quarter. First Trust Advisors LP owned approximately 1.24% of First Financial Bancorp. worth $31,887,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in shares of First Financial Bancorp. during the 4th quarter valued at approximately $8,961,000. Norges Bank bought a new position in First Financial Bancorp. during the fourth quarter valued at $7,827,000. Invesco Ltd. increased its position in First Financial Bancorp. by 98.0% in the fourth quarter. Invesco Ltd. now owns 447,824 shares of the bank’s stock worth $12,038,000 after buying an additional 221,683 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of First Financial Bancorp. by 17.6% in the fourth quarter. Fisher Asset Management LLC now owns 849,678 shares of the bank’s stock valued at $22,839,000 after buying an additional 126,996 shares during the period. Finally, Barclays PLC lifted its position in shares of First Financial Bancorp. by 140.1% during the 3rd quarter. Barclays PLC now owns 190,742 shares of the bank’s stock valued at $4,812,000 after buying an additional 111,309 shares during the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FFBC shares. Keefe, Bruyette & Woods boosted their price objective on First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Stephens reissued an “overweight” rating and issued a $33.00 price target on shares of First Financial Bancorp. in a research report on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $30.00 price objective on shares of First Financial Bancorp. in a report on Monday, January 27th.

First Financial Bancorp. Stock Up 0.7 %

Shares of NASDAQ FFBC opened at $24.00 on Friday. 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 company has a market cap of $2.29 billion, a P/E ratio of 10.00 and a beta of 0.85. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18. The business has a 50-day simple moving average of $24.64 and a two-hundred day simple moving average of $26.57.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings data on Thursday, April 24th. The bank reported $0.63 EPS for the quarter, meeting analysts’ consensus estimates of $0.63. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. Research analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.00%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 40.00%.

Insider Activity at First Financial Bancorp.

In other First Financial Bancorp. news, insider James R. Shank sold 7,600 shares of the firm’s stock in a transaction dated 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 owns 11,141 shares of the company’s stock, valued at $277,633.72. This trade represents a 40.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.04% of the stock is owned by corporate insiders.

First Financial Bancorp. Company 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 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.