First Financial Bancorp. (NASDAQ:FFBC) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in First Financial Bancorp. (NASDAQ:FFBC) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,892,158 shares of the bank’s stock after purchasing an additional 72,367 shares during the period. Vanguard Group Inc. owned about 11.41% of First Financial Bancorp. worth $292,781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its position in shares of First Financial Bancorp. by 4.3% in the 3rd quarter. Principal Financial Group Inc. now owns 491,232 shares of the bank’s stock valued at $12,394,000 after purchasing an additional 20,449 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of First Financial Bancorp. during the fourth quarter worth $273,000. Geode Capital Management LLC increased its holdings in First Financial Bancorp. by 1.6% in the third quarter. Geode Capital Management LLC now owns 2,271,990 shares of the bank’s stock valued at $57,333,000 after buying an additional 34,977 shares during the last quarter. State Street Corp raised its stake in First Financial Bancorp. by 0.9% in the third quarter. State Street Corp now owns 4,643,440 shares of the bank’s stock valued at $117,154,000 after buying an additional 39,655 shares in the last quarter. Finally, KBC Group NV lifted its holdings in First Financial Bancorp. by 82.8% during the 4th quarter. KBC Group NV now owns 5,150 shares of the bank’s stock worth $138,000 after buying an additional 2,333 shares during the last quarter. 77.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at First Financial Bancorp.

In related news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total value of $189,392.00. Following the transaction, the insider now directly owns 11,141 shares in the company, valued at $277,633.72. This trade represents a 40.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.04% of the company’s stock.

First Financial Bancorp. Trading Down 3.3 %

NASDAQ:FFBC opened at $22.12 on Friday. The company has a market capitalization of $2.11 billion, a PE ratio of 9.22 and a beta of 0.85. First Financial Bancorp. has a 52-week low of $20.59 and a 52-week high of $31.18. The stock’s 50 day moving average price is $26.38 and its 200 day moving average price is $26.82. 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. (NASDAQ:FFBC) last announced its earnings results on Thursday, January 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that First Financial Bancorp. will post 2.64 EPS for the current year.

First Financial Bancorp. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.34%. First Financial Bancorp.’s payout ratio is 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.