Dimensional Fund Advisors LP raised its stake in shares of First Financial Bancorp. (NASDAQ:FFBC) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 3,068,454 shares of the bank’s stock after buying an additional 42,092 shares during the period. Dimensional Fund Advisors LP’s holdings in First Financial Bancorp. were worth $84,230,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System raised its position in shares of First Financial Bancorp. by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the bank’s stock valued at $694,000 after buying an additional 400 shares during the period. Bank of Montreal Can raised its position in shares of First Financial Bancorp. by 50.3% in the first quarter. Bank of Montreal Can now owns 5,580 shares of the bank’s stock valued at $153,000 after buying an additional 1,867 shares during the period. Teachers Advisors LLC raised its position in shares of First Financial Bancorp. by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 101,896 shares of the bank’s stock valued at $2,899,000 after buying an additional 2,465 shares during the period. Norges Bank acquired a new position in shares of First Financial Bancorp. during the fourth quarter valued at about $17,149,000. Finally, Numeric Investors LLC acquired a new position in shares of First Financial Bancorp. during the fourth quarter valued at about $1,070,000. Institutional investors and hedge funds own 74.48% of the company’s stock.
Shares of First Financial Bancorp. (NASDAQ FFBC) opened at 26.85 on Wednesday. The firm has a 50-day moving average of $26.62 and a 200 day moving average of $27.50. First Financial Bancorp. has a 12-month low of $18.00 and a 12-month high of $29.80. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 17.90 and a beta of 1.21.
First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, April 20th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.04. First Financial Bancorp. had a net margin of 24.42% and a return on equity of 10.79%. The company had revenue of $86.30 million for the quarter, compared to the consensus estimate of $86.84 million. During the same period last year, the firm posted $0.32 EPS. Equities analysts forecast that First Financial Bancorp. will post $1.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Wednesday, May 31st. First Financial Bancorp.’s payout ratio is currently 45.33%.
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Several research firms have recently weighed in on FFBC. Zacks Investment Research downgraded shares of First Financial Bancorp. from a “buy” rating to a “hold” rating in a research note on Monday, March 13th. BidaskClub raised shares of First Financial Bancorp. from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $27.00 price target on shares of First Financial Bancorp. in a research note on Monday, April 10th. Finally, DA Davidson began coverage on shares of First Financial Bancorp. in a research note on Thursday, March 23rd. They set a “buy” rating and a $30.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $26.17.
In other First Financial Bancorp. news, insider Paul C. Silva sold 1,713 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $27.66, for a total transaction of $47,381.58. Following the transaction, the insider now directly owns 2,051 shares of the company’s stock, valued at approximately $56,730.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.88% of the company’s stock.
First Financial Bancorp. Company Profile
First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.
Want to see what other hedge funds are holding FFBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Financial Bancorp. (NASDAQ:FFBC).
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