American Century Companies Inc. Boosts Stock Holdings in First Financial Bancorp. (NASDAQ:FFBC)

American Century Companies Inc. boosted its position in First Financial Bancorp. (NASDAQ:FFBC) by 94.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 338,711 shares of the bank’s stock after buying an additional 164,105 shares during the quarter. American Century Companies Inc. owned approximately 0.35% of First Financial Bancorp. worth $7,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in First Financial Bancorp. during the 4th quarter valued at $15,348,000. Hsbc Holdings PLC lifted its holdings in First Financial Bancorp. by 2,655.1% during the 4th quarter. Hsbc Holdings PLC now owns 518,061 shares of the bank’s stock worth $12,360,000 after purchasing an additional 499,257 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in First Financial Bancorp. by 6,820.5% in the 4th quarter. TFO Wealth Partners LLC now owns 3,045 shares of the bank’s stock worth $72,000 after purchasing an additional 3,001 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in First Financial Bancorp. during the 4th quarter valued at about $652,000. Finally, Rafferty Asset Management LLC increased its position in shares of First Financial Bancorp. by 60.0% during the fourth quarter. Rafferty Asset Management LLC now owns 73,270 shares of the bank’s stock valued at $1,740,000 after buying an additional 27,479 shares during the period. 77.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Financial Bancorp.

In related news, insider Claude E. Davis sold 29,000 shares of First Financial Bancorp. stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $26.60, for a total value of $771,400.00. Following the transaction, the insider now directly owns 53,576 shares of the company’s stock, valued at $1,425,121.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FFBC shares. Royal Bank of Canada boosted their price objective on shares of First Financial Bancorp. from $25.00 to $29.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised their price target on shares of First Financial Bancorp. from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

First Financial Bancorp. Trading Down 0.5 %

NASDAQ FFBC opened at $25.32 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The stock’s 50-day simple moving average is $25.66 and its two-hundred day simple moving average is $23.33. First Financial Bancorp. has a twelve month low of $17.23 and a twelve month high of $28.25. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 10.21 and a beta of 0.99.

First Financial Bancorp. (NASDAQ:FFBC) last issued its earnings results on Thursday, July 25th. The bank reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. First Financial Bancorp. had a net margin of 19.67% and a return on equity of 10.69%. The company had revenue of $314.22 million for the quarter, compared to analysts’ expectations of $203.50 million. During the same quarter last year, the company earned $0.72 EPS. Research analysts forecast that First Financial Bancorp. will post 2.58 EPS for the current fiscal year.

First Financial Bancorp. Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.79%. This is a positive change from First Financial Bancorp.’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Friday, August 30th. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 38.71%.

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.