First Financial Bank Trust Division Has $23.29 Million Stake in First Financial Bancorp. (NASDAQ:FFBC)

First Financial Bank Trust Division grew its stake in First Financial Bancorp. (NASDAQ:FFBC) by 17.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,038,758 shares of the bank’s stock after purchasing an additional 157,190 shares during the period. First Financial Bancorp. makes up about 2.2% of First Financial Bank Trust Division’s portfolio, making the stock its 9th biggest position. First Financial Bank Trust Division owned about 1.09% of First Financial Bancorp. worth $23,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of FFBC. Blue Trust Inc. raised its holdings in shares of First Financial Bancorp. by 23.3% in the fourth quarter. Blue Trust Inc. now owns 2,993 shares of the bank’s stock worth $71,000 after buying an additional 566 shares during the period. QRG Capital Management Inc. raised its holdings in shares of First Financial Bancorp. by 2.9% in the fourth quarter. QRG Capital Management Inc. now owns 31,138 shares of the bank’s stock worth $740,000 after buying an additional 885 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of First Financial Bancorp. by 3.7% in the third quarter. Advisors Asset Management Inc. now owns 45,389 shares of the bank’s stock worth $890,000 after buying an additional 1,622 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in First Financial Bancorp. by 4.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,416 shares of the bank’s stock worth $1,007,000 after purchasing an additional 1,797 shares during the period. Finally, Swiss National Bank increased its holdings in First Financial Bancorp. by 1.0% during the 3rd quarter. Swiss National Bank now owns 209,243 shares of the bank’s stock worth $4,101,000 after purchasing an additional 2,000 shares during the period. 77.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on FFBC. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price objective on shares of First Financial Bancorp. in a report on Tuesday, April 9th. Piper Sandler began coverage on First Financial Bancorp. in a report on Friday, February 23rd. They set an “overweight” rating and a $26.00 price objective on the stock.

Insiders Place Their Bets

In other First Financial Bancorp. news, insider Richard S. Dennen sold 10,500 shares of First Financial Bancorp. stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $23.64, for a total transaction of $248,220.00. Following the completion of the sale, the insider now owns 93,152 shares of the company’s stock, valued at approximately $2,202,113.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.04% of the stock is currently owned by insiders.

First Financial Bancorp. Stock Up 0.5 %

Shares of First Financial Bancorp. stock traded up $0.10 during trading on Tuesday, reaching $21.26. The company’s stock had a trading volume of 31,491 shares, compared to its average volume of 323,840. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 8.53 and a beta of 1.02. First Financial Bancorp. has a 1-year low of $17.23 and a 1-year high of $24.99. The company has a 50-day simple moving average of $22.24 and a two-hundred day simple moving average of $22.39.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings data on Friday, April 26th. The bank reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. First Financial Bancorp. had a return on equity of 11.22% and a net margin of 20.74%. The firm had revenue of $287.20 million during the quarter, compared to analysts’ expectations of $201.79 million. During the same quarter last year, the firm earned $0.76 EPS. As a group, equities analysts forecast that First Financial Bancorp. will post 2.42 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 4.33%. First Financial Bancorp.’s dividend payout ratio is currently 37.10%.

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.