First Financial Bank Trust Division Has $18.21 Million Stock Holdings in First Financial Bancorp. (NASDAQ:FFBC)


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First Financial Bank Trust Division increased its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC) by 23.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 758,926 shares of the bank’s stock after purchasing an additional 141,964 shares during the quarter. First Financial Bancorp. makes up 2.0% of First Financial Bank Trust Division’s investment portfolio, making the stock its 11th largest position. First Financial Bank Trust Division’s holdings in First Financial Bancorp. were worth $18,214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in FFBC. UBS Asset Management Americas Inc. boosted its position in First Financial Bancorp. by 4.9% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 157,898 shares of the bank’s stock worth $1,896,000 after acquiring an additional 7,322 shares during the period. Campbell & CO Investment Adviser LLC lifted its position in shares of First Financial Bancorp. by 69.2% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 22,486 shares of the bank’s stock worth $394,000 after purchasing an additional 9,200 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in First Financial Bancorp. by 1.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 159,489 shares of the bank’s stock valued at $2,796,000 after purchasing an additional 1,688 shares in the last quarter. State of Tennessee Treasury Department grew its position in First Financial Bancorp. by 103.0% during the third quarter. State of Tennessee Treasury Department now owns 87,089 shares of the bank’s stock valued at $1,046,000 after purchasing an additional 44,194 shares in the last quarter. Finally, 9258 Wealth Management LLC increased its stake in First Financial Bancorp. by 6.7% in the 4th quarter. 9258 Wealth Management LLC now owns 47,485 shares of the bank’s stock valued at $832,000 after buying an additional 3,000 shares during the period. 72.72% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of First Financial Bancorp. from a “buy” rating to a “hold” rating in a research note on Tuesday. Piper Sandler reissued a “neutral” rating and issued a $23.00 price target (up previously from $22.00) on shares of First Financial Bancorp. in a research note on Tuesday, March 9th.

In other news, Chairman Claude E. Davis sold 16,037 shares of the company’s stock in a transaction that occurred on Friday, February 12th. The stock was sold at an average price of $21.54, for a total transaction of $345,436.98. Following the completion of the transaction, the chairman now directly owns 282,405 shares in the company, valued at $6,083,003.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Claude E. Davis sold 41,185 shares of the stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $21.70, for a total value of $893,714.50. Following the completion of the sale, the chairman now directly owns 241,220 shares of the company’s stock, valued at $5,234,474. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Shares of FFBC traded down $0.34 during trading hours on Thursday, hitting $23.82. 1,194 shares of the company were exchanged, compared to its average volume of 429,556. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market cap of $2.32 billion, a PE ratio of 15.29 and a beta of 1.24. The firm’s 50 day moving average is $23.91 and its 200-day moving average is $18.54. First Financial Bancorp. has a 52 week low of $10.83 and a 52 week high of $26.62.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings results on Wednesday, January 27th. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. First Financial Bancorp. had a return on equity of 7.42% and a net margin of 22.09%. The company had revenue of $181.60 million for the quarter, compared to the consensus estimate of $160.45 million. During the same quarter last year, the company posted $0.52 earnings per share. As a group, equities analysts forecast that First Financial Bancorp. will post 1.63 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, February 26th. This represents a $0.92 annualized dividend and a yield of 3.86%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 42.99%.

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.

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

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