Smartleaf Asset Management LLC Buys 1,873 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Smartleaf Asset Management LLC boosted its stake in First Financial Bancorp. (NASDAQ:FFBC) by 221.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,717 shares of the bank’s stock after purchasing an additional 1,873 shares during the period. Smartleaf Asset Management LLC’s holdings in First Financial Bancorp. were worth $73,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its stake in shares of First Financial Bancorp. by 17.6% during the 4th quarter. Fisher Asset Management LLC now owns 849,678 shares of the bank’s stock valued at $22,839,000 after purchasing an additional 126,996 shares during the period. QRG Capital Management Inc. grew its position in First Financial Bancorp. by 4.3% during the fourth quarter. QRG Capital Management Inc. now owns 37,505 shares of the bank’s stock valued at $1,008,000 after buying an additional 1,537 shares during the period. Ieq Capital LLC purchased a new stake in First Financial Bancorp. during the fourth quarter valued at approximately $228,000. Principal Financial Group Inc. increased its holdings in First Financial Bancorp. by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 511,868 shares of the bank’s stock valued at $13,759,000 after buying an additional 20,636 shares during the last quarter. Finally, Allworth Financial LP bought a new position in First Financial Bancorp. in the fourth quarter worth approximately $44,000. 77.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FFBC. Royal Bank of Canada reissued a “sector perform” rating and set a $30.00 price objective on shares of First Financial Bancorp. in a research report on Monday, January 27th. Stephens reiterated an “overweight” rating and issued a $33.00 price target on shares of First Financial Bancorp. in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of 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.

First Financial Bancorp. Trading Down 0.2 %

Shares of FFBC opened at $25.45 on Monday. The company’s fifty day moving average is $27.36 and its 200 day moving average is $26.99. 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 has a market capitalization of $2.43 billion, a PE ratio of 10.60 and a beta of 0.99. First Financial Bancorp. has a fifty-two week low of $20.59 and a fifty-two week high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate 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 expect that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Announces Dividend

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 paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, March 3rd. First Financial Bancorp.’s dividend payout ratio is currently 40.00%.

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.