Alps Advisors Inc. Invests $378,000 in First Financial Bancorp (FFBC) Stock

Alps Advisors Inc. acquired a new position in shares of First Financial Bancorp (NASDAQ:FFBC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,703 shares of the bank’s stock, valued at approximately $378,000.

A number of other institutional investors also recently bought and sold shares of FFBC. Bessemer Group Inc. increased its stake in First Financial Bancorp by 598.7% during the 4th quarter. Bessemer Group Inc. now owns 1,076 shares of the bank’s stock worth $26,000 after acquiring an additional 922 shares during the period. Oregon Public Employees Retirement Fund bought a new position in First Financial Bancorp during the 4th quarter worth $37,000. Eukles Asset Management bought a new position in First Financial Bancorp during the 4th quarter worth $49,000. Versant Capital Management Inc increased its stake in First Financial Bancorp by 118.3% during the 1st quarter. Versant Capital Management Inc now owns 2,240 shares of the bank’s stock worth $53,000 after acquiring an additional 1,214 shares during the period. Finally, Investors Research Corp bought a new position in First Financial Bancorp during the 1st quarter worth $96,000. Hedge funds and other institutional investors own 75.65% of the company’s stock.

A number of equities analysts have commented on the company. BidaskClub lowered First Financial Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday. Zacks Investment Research upgraded First Financial Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, April 30th. Stephens restated a “hold” rating and set a $30.00 price objective on shares of First Financial Bancorp in a research note on Wednesday, April 10th. Finally, ValuEngine lowered First Financial Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $28.40.

Shares of FFBC stock opened at $24.10 on Friday. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 1.11 and a beta of 1.22. First Financial Bancorp has a fifty-two week low of $22.27 and a fifty-two week high of $33.70. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.91 and a current ratio of 0.92.

First Financial Bancorp (NASDAQ:FFBC) last issued its earnings results on Thursday, April 25th. The bank reported $0.47 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.47. The firm had revenue of $148.34 million for the quarter, compared to the consensus estimate of $150.53 million. First Financial Bancorp had a return on equity of 10.60% and a net margin of 26.28%. During the same quarter last year, the business posted $0.49 EPS. On average, analysts forecast that First Financial Bancorp will post 2.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Friday, May 31st. First Financial Bancorp’s dividend payout ratio is presently 38.60%.

WARNING: “Alps Advisors Inc. Invests $378,000 in First Financial Bancorp (FFBC) Stock” was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another site, it was stolen and republished in violation of United States and international copyright law. The legal version of this piece can be accessed at https://sportsperspectives.com/2019/05/19/alps-advisors-inc-invests-378000-in-first-financial-bancorp-ffbc-stock.html.

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

Featured Story: What is the quiet period?

Want to see what other hedge funds are holding FFBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Financial Bancorp (NASDAQ:FFBC).

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

Receive News & Ratings for First Financial Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.