Allworth Financial LP Buys New Holdings in First Financial Bancorp. (NASDAQ:FFBC)

Allworth Financial LP purchased a new position in shares of First Financial Bancorp. (NASDAQ:FFBC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,578 shares of the bank’s stock, valued at approximately $44,000.

Other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its holdings in First Financial Bancorp. by 140.1% during the third quarter. Barclays PLC now owns 190,742 shares of the bank’s stock valued at $4,812,000 after purchasing an additional 111,309 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of First Financial Bancorp. during the 3rd quarter worth approximately $2,792,000. Segall Bryant & Hamill LLC bought a new position in shares of First Financial Bancorp. during the 3rd quarter worth approximately $2,013,000. Thrivent Financial for Lutherans boosted its stake in First Financial Bancorp. by 73.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 153,281 shares of the bank’s stock valued at $3,867,000 after buying an additional 64,745 shares in the last quarter. Finally, FMR LLC grew its position in First Financial Bancorp. by 397.8% in the third quarter. FMR LLC now owns 73,750 shares of the bank’s stock valued at $1,861,000 after acquiring an additional 58,935 shares during the period. 77.23% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bancorp. Price Performance

Shares of FFBC stock opened at $26.98 on Wednesday. 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 $2.57 billion, a PE ratio of 11.24 and a beta of 1.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s fifty day moving average is $27.49 and its 200-day moving average is $26.90.

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

First Financial Bancorp. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 dividend on an annualized basis and a yield of 3.56%. First Financial Bancorp.’s payout ratio is 40.00%.

Analysts Set New Price Targets

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

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.