PharVision Advisers LLC Purchases Shares of 10,407 First Financial Bancorp. (NASDAQ:FFBC)

PharVision Advisers LLC acquired a new position in shares of First Financial Bancorp. (NASDAQ:FFBC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,407 shares of the bank’s stock, valued at approximately $280,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FFBC. Barclays PLC boosted its stake in shares of First Financial Bancorp. by 140.1% in the 3rd quarter. Barclays PLC now owns 190,742 shares of the bank’s stock valued at $4,812,000 after purchasing an additional 111,309 shares in the last quarter. Blue Trust Inc. lifted its holdings in First Financial Bancorp. by 11.3% during the 4th quarter. Blue Trust Inc. now owns 9,340 shares of the bank’s stock valued at $236,000 after purchasing an additional 945 shares during the last quarter. KBC Group NV boosted its position in First Financial Bancorp. by 82.8% in the fourth quarter. KBC Group NV now owns 5,150 shares of the bank’s stock valued at $138,000 after buying an additional 2,333 shares in the last quarter. Kavar Capital Partners Group LLC bought a new stake in First Financial Bancorp. during the fourth quarter worth about $208,000. Finally, Empowered Funds LLC grew its stake in First Financial Bancorp. by 5.1% during the fourth quarter. Empowered Funds LLC now owns 308,749 shares of the bank’s stock worth $8,299,000 after buying an additional 15,037 shares during the last quarter. 77.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of First Financial Bancorp. from $30.00 to $27.00 and set a “sector perform” rating for the company in a research note on Monday, April 28th. Truist Financial began coverage on First Financial Bancorp. in a research report on Tuesday, May 13th. They issued a “hold” rating and a $27.00 price objective for the company. Keefe, Bruyette & Woods reduced their price objective on First Financial Bancorp. from $31.00 to $30.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. Finally, Stephens restated an “overweight” rating and issued a $33.00 target price on shares of First Financial Bancorp. in a research note on Friday, January 24th.

Insider Transactions at First Financial Bancorp.

In related 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 transaction, the insider now owns 11,141 shares in the company, valued at $277,633.72. This trade represents a 40.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.04% of the stock is currently owned by corporate insiders.

First Financial Bancorp. Trading Down 2.7%

Shares of NASDAQ FFBC opened at $24.22 on Thursday. First Financial Bancorp. has a 1-year low of $20.59 and a 1-year high of $31.18. The company has a 50-day moving average of $23.86 and a two-hundred day moving average of $26.40. The company has a market cap of $2.32 billion, a PE ratio of 10.09 and a beta of 0.94. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.63 earnings per share 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%. The business had revenue of $201.59 million during the quarter, compared to analyst estimates of $214.80 million. During the same quarter last year, the business posted $0.59 earnings per share. First Financial Bancorp.’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, equities analysts expect that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.24 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.96%. First Financial Bancorp.’s dividend payout ratio (DPR) is currently 39.83%.

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.