PNC Financial Services Group Inc. Sells 1,358 Shares of First Financial Bancorp. (NASDAQ:FFBC)

PNC Financial Services Group Inc. lessened its position in shares of First Financial Bancorp. (NASDAQ:FFBC) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,480 shares of the bank’s stock after selling 1,358 shares during the period. PNC Financial Services Group Inc.’s holdings in First Financial Bancorp. were worth $273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in First Financial Bancorp. by 23.3% during the fourth quarter. Blue Trust Inc. now owns 2,993 shares of the bank’s stock valued at $71,000 after purchasing an additional 566 shares during the last quarter. TFO Wealth Partners LLC lifted its stake in shares of First Financial Bancorp. by 6,820.5% during the 4th quarter. TFO Wealth Partners LLC now owns 3,045 shares of the bank’s stock valued at $72,000 after buying an additional 3,001 shares in the last quarter. Planned Solutions Inc. bought a new position in First Financial Bancorp. in the 4th quarter worth approximately $101,000. Nisa Investment Advisors LLC grew its stake in First Financial Bancorp. by 72.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the bank’s stock valued at $168,000 after buying an additional 2,977 shares in the last quarter. Finally, Sapient Capital LLC bought a new stake in First Financial Bancorp. during the 4th quarter valued at $207,000. Institutional investors own 77.23% of the company’s stock.

First Financial Bancorp. Price Performance

Shares of NASDAQ:FFBC opened at $22.22 on Monday. The company has a 50 day moving average of $22.28 and a 200 day moving average of $22.34. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.12 billion, a P/E ratio of 8.96 and a beta of 1.02. First Financial Bancorp. has a 12 month low of $17.23 and a 12 month high of $24.99.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings results on Friday, April 26th. The bank reported $0.59 EPS for the quarter, meeting analysts’ consensus estimates of $0.59. The firm had revenue of $287.20 million during the quarter, compared to analyst estimates of $201.79 million. First Financial Bancorp. had a net margin of 20.74% and a return on equity of 11.22%. During the same period in the previous year, the business earned $0.76 EPS. As a group, sell-side analysts forecast that First Financial Bancorp. will post 2.42 EPS for the current fiscal year.

First Financial Bancorp. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders 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 dividend yield of 4.14%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 37.10%.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of First Financial Bancorp. in a report on Tuesday, April 9th.

Insider Transactions at First Financial Bancorp.

In other news, insider Richard S. Dennen sold 10,500 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $23.64, for a total value of $248,220.00. Following the transaction, 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 Securities & Exchange Commission, which is available through this link. 2.04% of the stock is owned by insiders.

First Financial Bancorp. 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 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.