Bank of New York Mellon Corp Has $28.64 Million Stock Holdings in First Financial Bancorp. (NASDAQ:FFBC)

Bank of New York Mellon Corp cut its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,065,636 shares of the bank’s stock after selling 149,576 shares during the period. Bank of New York Mellon Corp owned about 1.12% of First Financial Bancorp. worth $28,644,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in First Financial Bancorp. during the 3rd quarter worth approximately $30,000. ORG Partners LLC bought a new position in First Financial Bancorp. during the 4th quarter worth approximately $35,000. Allworth Financial LP bought a new stake in shares of First Financial Bancorp. in the 4th quarter valued at $44,000. Kentucky Trust Co bought a new stake in shares of First Financial Bancorp. in the 4th quarter valued at $76,000. Finally, KBC Group NV increased its stake in shares of First Financial Bancorp. by 82.8% in the 4th quarter. KBC Group NV now owns 5,150 shares of the bank’s stock valued at $138,000 after acquiring an additional 2,333 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bancorp. Stock Down 0.2 %

FFBC stock opened at $25.45 on Friday. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 10.60 and a beta of 0.99. The company’s 50 day moving average is $27.36 and its 200 day moving average is $26.98. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. First Financial Bancorp. has a 1-year low of $20.59 and a 1-year high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC) last announced its earnings results on Thursday, January 23rd. The bank reported $0.71 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%. Sell-side analysts predict that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.77%. First Financial Bancorp.’s payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FFBC shares. Stephens reissued an “overweight” rating and issued a $33.00 price target on shares of First Financial Bancorp. in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price target on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada reissued 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.

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.