Dimensional Fund Advisors LP Boosts Stake in First Financial Bancorp. (NASDAQ:FFBC)

Dimensional Fund Advisors LP increased its position in First Financial Bancorp. (NASDAQ:FFBC) by 0.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,732,162 shares of the bank’s stock after purchasing an additional 60,612 shares during the period. Dimensional Fund Advisors LP owned 7.05% of First Financial Bancorp. worth $149,587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FFBC. Norges Bank purchased a new stake in shares of First Financial Bancorp. in the 4th quarter valued at about $15,348,000. Hsbc Holdings PLC increased its position in First Financial Bancorp. by 2,655.1% in the 4th quarter. Hsbc Holdings PLC now owns 518,061 shares of the bank’s stock valued at $12,360,000 after acquiring an additional 499,257 shares during the period. TFO Wealth Partners LLC increased its position in First Financial Bancorp. by 6,820.5% in the 4th quarter. TFO Wealth Partners LLC now owns 3,045 shares of the bank’s stock valued at $72,000 after acquiring an additional 3,001 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in First Financial Bancorp. in the 4th quarter valued at about $652,000. Finally, Rafferty Asset Management LLC increased its position in First Financial Bancorp. by 60.0% in the 4th quarter. Rafferty Asset Management LLC now owns 73,270 shares of the bank’s stock valued at $1,740,000 after acquiring an additional 27,479 shares during the period. 77.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FFBC shares. Royal Bank of Canada boosted their price target on First Financial Bancorp. from $25.00 to $29.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price target on First Financial Bancorp. from $25.00 to $27.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

First Financial Bancorp. Stock Performance

NASDAQ FFBC opened at $25.45 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $25.64 and its two-hundred day moving average is $23.30. First Financial Bancorp. has a 12-month low of $17.23 and a 12-month high of $28.25. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 10.26 and a beta of 0.99.

First Financial Bancorp. (NASDAQ:FFBC) last released its earnings results on Thursday, July 25th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. First Financial Bancorp. had a return on equity of 10.69% and a net margin of 19.67%. The company had revenue of $314.22 million for the quarter, compared to analysts’ expectations of $203.50 million. During the same quarter in the previous year, the firm posted $0.72 EPS. Research analysts expect that First Financial Bancorp. will post 2.58 EPS for the current year.

First Financial Bancorp. Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.77%. This is a boost from First Financial Bancorp.’s previous quarterly dividend of $0.23. First Financial Bancorp.’s dividend payout ratio is currently 38.71%.

Insider Buying and Selling

In related news, insider Claude E. Davis sold 29,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $26.60, for a total value of $771,400.00. Following the sale, the insider now owns 53,576 shares in the company, valued at approximately $1,425,121.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.04% of the company’s stock.

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.