Blue Trust Inc. Reduces Position in First Financial Bancorp. (NASDAQ:FFBC)

Blue Trust Inc. cut its stake in shares of First Financial Bancorp. (NASDAQ:FFBC) by 42.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,833 shares of the bank’s stock after selling 3,562 shares during the quarter. Blue Trust Inc.’s holdings in First Financial Bancorp. were worth $130,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Financial Management Professionals Inc. purchased a new stake in First Financial Bancorp. during the 3rd quarter valued at about $28,000. Point72 DIFC Ltd purchased a new stake in shares of First Financial Bancorp. in the 3rd quarter valued at $30,000. ORG Partners LLC purchased a new stake in shares of First Financial Bancorp. in the 4th quarter valued at $35,000. Bogart Wealth LLC boosted its holdings in shares of First Financial Bancorp. by 2,976.9% in the 3rd quarter. Bogart Wealth LLC now owns 2,000 shares of the bank’s stock valued at $50,000 after acquiring an additional 1,935 shares during the last quarter. Finally, Kentucky Trust Co purchased a new stake in First Financial Bancorp. in the fourth quarter valued at $76,000. 77.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on FFBC. Keefe, Bruyette & Woods upped their target price on First Financial Bancorp. from $31.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Royal Bank of Canada restated a “sector perform” rating and issued a $30.00 price objective on shares of First Financial Bancorp. in a research report on Monday, January 27th. Finally, Stephens reissued an “overweight” rating and set a $33.00 price target on shares of First Financial Bancorp. in a report on Friday, January 24th.

Insider Transactions at First Financial Bancorp.

In related news, insider Richard S. Dennen sold 4,068 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $30.01, for a total transaction of $122,080.68. Following the transaction, the insider now directly owns 70,652 shares in the company, valued at approximately $2,120,266.52. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.04% of the company’s stock.

First Financial Bancorp. Stock Performance

Shares of FFBC stock opened at $27.08 on Friday. First Financial Bancorp. has a 12-month low of $20.59 and a 12-month high of $31.18. The company has a market capitalization of $2.59 billion, a P/E ratio of 11.28 and a beta of 1.02. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $27.57 and its two-hundred day moving average is $26.83.

First Financial Bancorp. (NASDAQ:FFBC) last announced its earnings results on Thursday, January 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. Analysts expect that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.24 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.96 annualized dividend and a dividend yield of 3.55%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 40.00%.

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.