KLP Kapitalforvaltning AS Makes New Investment in First Financial Bancorp. (NASDAQ:FFBC)

KLP Kapitalforvaltning AS acquired a new position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 20,413 shares of the bank's stock, valued at approximately $549,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FFBC. Point72 DIFC Ltd acquired a new position in First Financial Bancorp. during the 3rd quarter worth approximately $30,000. ORG Partners LLC acquired a new position in First Financial Bancorp. during the fourth quarter worth $35,000. Allworth Financial LP acquired a new position in First Financial Bancorp. during the fourth quarter worth $44,000. Smartleaf Asset Management LLC grew its position in First Financial Bancorp. by 221.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank's stock valued at $73,000 after purchasing an additional 1,873 shares in the last quarter. Finally, Kentucky Trust Co acquired a new stake in First Financial Bancorp. in the 4th quarter valued at $76,000. Institutional investors and hedge funds own 77.23% of the company's stock.

First Financial Bancorp. Stock Performance

Shares of FFBC stock traded down $0.02 during trading on Monday, reaching $22.10. 675,339 shares of the company's stock were exchanged, compared to its average volume of 401,815. First Financial Bancorp. has a twelve month low of $19.78 and a twelve month high of $31.18. The firm's fifty day moving average price is $26.26 and its 200-day moving average price is $26.81. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $2.11 billion, a PE ratio of 9.21 and a beta of 0.85.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 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%. As a group, sell-side analysts anticipate that First Financial Bancorp. will post 2.64 EPS for the current year.

First Financial Bancorp. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.24 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.96 annualized dividend and a yield of 4.34%. First Financial Bancorp.'s dividend payout ratio is currently 40.00%.

Insiders Place Their Bets

In other First Financial Bancorp. news, insider James R. Shank sold 7,600 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total transaction of $189,392.00. Following the transaction, the insider now 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.04% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.