8,943 Shares in First Financial Bancorp. (NASDAQ:FFBC) Acquired by Verition Fund Management LLC

Verition Fund Management LLC purchased a new position in shares of First Financial Bancorp. (NASDAQ:FFBC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,943 shares of the bank’s stock, valued at approximately $226,000.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in First Financial Bancorp. during the second quarter worth approximately $300,000. Citigroup Inc. boosted its holdings in shares of First Financial Bancorp. by 25.2% in the 3rd quarter. Citigroup Inc. now owns 166,170 shares of the bank’s stock valued at $4,192,000 after purchasing an additional 33,464 shares in the last quarter. AE Wealth Management LLC acquired a new stake in shares of First Financial Bancorp. in the 2nd quarter valued at $762,000. Millennium Management LLC boosted its holdings in shares of First Financial Bancorp. by 162.4% in the 2nd quarter. Millennium Management LLC now owns 242,187 shares of the bank’s stock valued at $5,381,000 after purchasing an additional 149,896 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in shares of First Financial Bancorp. in the 2nd quarter valued at $265,000. Institutional investors and hedge funds own 77.23% of the company’s stock.

First Financial Bancorp. Stock Down 0.1 %

Shares of FFBC opened at $28.94 on Monday. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 12.47 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a fifty day moving average of $27.53 and a 200-day moving average of $25.35.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. First Financial Bancorp. had a return on equity of 10.32% and a net margin of 18.55%. The company had revenue of $302.82 million during the quarter, compared to analysts’ expectations of $214.00 million. During the same period in the prior year, the company earned $0.67 EPS. As a group, sell-side analysts anticipate that First Financial Bancorp. will post 2.53 earnings per share for the current fiscal year.

First Financial Bancorp. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Monday, December 2nd. First Financial Bancorp.’s dividend payout ratio is currently 41.38%.

Insider Buying and Selling

In related news, insider James R. Shank sold 3,700 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $26.34, for a total transaction of $97,458.00. Following the completion of the transaction, the insider now directly owns 15,374 shares of the company’s stock, valued at $404,951.16. This trade represents a 19.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott T. Crawley sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $29.31, for a total value of $87,930.00. Following the transaction, the insider now directly owns 19,279 shares of the company’s stock, valued at approximately $565,067.49. This represents a 13.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,700 shares of company stock valued at $335,429 in the last three months. Insiders own 2.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stephens raised First Financial Bancorp. from an “equal weight” rating to an “overweight” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods raised their target price on First Financial Bancorp. from $28.00 to $31.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

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.