Intech Investment Management LLC Raises Stake in First Financial Bancorp. (NASDAQ:FFBC)

Intech Investment Management LLC boosted its position in First Financial Bancorp. (NASDAQ:FFBC) by 41.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,470 shares of the bank’s stock after buying an additional 6,320 shares during the quarter. Intech Investment Management LLC’s holdings in First Financial Bancorp. were worth $542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of First Financial Bancorp. by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 6,732,162 shares of the bank’s stock valued at $149,587,000 after purchasing an additional 60,612 shares in the last quarter. First Financial Bank Trust Division lifted its stake in First Financial Bancorp. by 4.2% in the third quarter. First Financial Bank Trust Division now owns 901,908 shares of the bank’s stock valued at $22,755,000 after acquiring an additional 36,679 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of First Financial Bancorp. by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 491,232 shares of the bank’s stock valued at $12,394,000 after acquiring an additional 20,449 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of First Financial Bancorp. by 94.0% during the 2nd quarter. American Century Companies Inc. now owns 338,711 shares of the bank’s stock worth $7,526,000 after buying an additional 164,105 shares during the period. Finally, Denali Advisors LLC grew its position in First Financial Bancorp. by 41.1% in the 2nd quarter. Denali Advisors LLC now owns 302,700 shares of the bank’s stock worth $6,726,000 after purchasing an additional 88,100 shares during the last quarter. Institutional investors own 77.23% of the company’s stock.

First Financial Bancorp. Stock Performance

NASDAQ:FFBC opened at $29.53 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $2.82 billion, a PE ratio of 12.73 and a beta of 0.99. The firm has a 50-day moving average price of $26.66 and a 200 day moving average price of $24.91. First Financial Bancorp. has a 12-month low of $20.07 and a 12-month high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $302.82 million during the quarter, compared to the consensus estimate of $214.00 million. First Financial Bancorp. had a net margin of 18.55% and a return on equity of 10.32%. During the same quarter in the prior year, the firm earned $0.67 earnings per share. Research analysts anticipate that First Financial Bancorp. will post 2.53 earnings per share for the current fiscal year.

First Financial Bancorp. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.25%. The ex-dividend date is Monday, December 2nd. First Financial Bancorp.’s payout ratio is 41.38%.

Insider Transactions at First Financial Bancorp.

In other news, insider Richard S. Dennen sold 932 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $30.00, for a total transaction of $27,960.00. Following the completion of the sale, the insider now directly owns 74,720 shares of the company’s stock, valued at $2,241,600. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott T. Crawley sold 3,000 shares of First Financial Bancorp. stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $29.31, for a total transaction of $87,930.00. Following the completion of the sale, the insider now directly owns 19,279 shares in the company, valued at $565,067.49. This trade represents a 13.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,700 shares of company stock worth $335,429. Insiders own 2.04% of the company’s stock.

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 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.