Nationwide Fund Advisors decreased its stake in First Financial Bancorp (NASDAQ:FFBC) by 10.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 148,963 shares of the bank’s stock after selling 17,006 shares during the period. Nationwide Fund Advisors owned about 0.24% of First Financial Bancorp worth $4,089,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can boosted its position in First Financial Bancorp by 50.3% in the first quarter. Bank of Montreal Can now owns 5,580 shares of the bank’s stock valued at $153,000 after buying an additional 1,867 shares during the last quarter. State of Alaska Department of Revenue boosted its position in First Financial Bancorp by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 6,840 shares of the bank’s stock valued at $187,000 after buying an additional 130 shares during the last quarter. SG Americas Securities LLC boosted its position in First Financial Bancorp by 41.5% in the third quarter. SG Americas Securities LLC now owns 12,488 shares of the bank’s stock valued at $273,000 after buying an additional 3,663 shares during the last quarter. Miles Capital Inc. boosted its position in First Financial Bancorp by 7.0% in the fourth quarter. Miles Capital Inc. now owns 10,108 shares of the bank’s stock valued at $288,000 after buying an additional 663 shares during the last quarter. Finally, Barings LLC purchased a new position in First Financial Bancorp during the fourth quarter valued at $296,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.
First Financial Bancorp (NASDAQ:FFBC) opened at 26.00 on Wednesday. The stock’s 50 day moving average is $27.10 and its 200 day moving average is $27.34. First Financial Bancorp has a 12-month low of $18.00 and a 12-month high of $29.80. The stock has a market capitalization of $1.62 billion, a PE ratio of 17.33 and a beta of 1.18.
First Financial Bancorp (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, April 20th. The bank reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. First Financial Bancorp had a net margin of 23.57% and a return on equity of 10.42%. The business had revenue of $86.30 million for the quarter, compared to analyst estimates of $86.84 million. During the same period last year, the business posted $0.32 earnings per share. Analysts forecast that First Financial Bancorp will post $1.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 2nd will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, May 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.62%. First Financial Bancorp’s payout ratio is 44.76%.
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FFBC has been the topic of several research analyst reports. DA Davidson initiated coverage on shares of First Financial Bancorp in a research report on Thursday, March 23rd. They set a “buy” rating and a $30.00 price objective on the stock. Zacks Investment Research upgraded shares of First Financial Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, April 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $27.00 price objective on shares of First Financial Bancorp in a research report on Monday, April 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. First Financial Bancorp currently has a consensus rating of “Hold” and an average target price of $26.17.
In related news, insider Paul C. Silva sold 1,713 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $27.66, for a total transaction of $47,381.58. Following the sale, the insider now directly owns 2,051 shares in the company, valued at $56,730.66. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.19% of the company’s stock.
About First Financial Bancorp
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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