Victory Capital Management Inc. Buys 68,087 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Victory Capital Management Inc. lifted its stake in First Financial Bancorp. (NASDAQ:FFBC) by 22.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 376,749 shares of the bank’s stock after buying an additional 68,087 shares during the quarter. Victory Capital Management Inc. owned about 0.39% of First Financial Bancorp. worth $10,127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FFBC. Blue Trust Inc. lifted its stake in First Financial Bancorp. by 11.3% in the 4th quarter. Blue Trust Inc. now owns 9,340 shares of the bank’s stock worth $236,000 after purchasing an additional 945 shares in the last quarter. Franklin Resources Inc. increased its position in First Financial Bancorp. by 1.5% in the third quarter. Franklin Resources Inc. now owns 67,175 shares of the bank’s stock worth $1,707,000 after purchasing an additional 975 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in First Financial Bancorp. during the third quarter valued at $30,000. ORG Partners LLC bought a new position in First Financial Bancorp. during the fourth quarter valued at $35,000. Finally, QRG Capital Management Inc. grew its stake in shares of First Financial Bancorp. by 4.3% in the 4th quarter. QRG Capital Management Inc. now owns 37,505 shares of the bank’s stock worth $1,008,000 after buying an additional 1,537 shares in the last quarter. 77.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FFBC shares. Royal Bank of Canada restated a “sector perform” rating and set a $30.00 target price on shares of First Financial Bancorp. in a research report on Monday, January 27th. 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. Finally, Keefe, Bruyette & Woods boosted their price objective 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.

First Financial Bancorp. Price Performance

Shares of NASDAQ FFBC opened at $24.25 on Friday. The business’s 50 day moving average price is $27.21 and its 200 day moving average price is $26.95. The firm has a market cap of $2.31 billion, a P/E ratio of 10.10 and a beta of 0.99. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts expect that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.96 annualized dividend and a yield of 3.96%. First Financial Bancorp.’s dividend payout ratio is currently 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.