Bank of New York Mellon Corp Reduces Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

Bank of New York Mellon Corp lessened its stake in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 12.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,065,636 shares of the bank's stock after selling 149,576 shares during the period. Bank of New York Mellon Corp owned about 1.12% of First Financial Bancorp. worth $28,644,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Ieq Capital LLC purchased a new stake in First Financial Bancorp. in the 4th quarter valued at approximately $228,000. Principal Financial Group Inc. boosted its holdings in shares of First Financial Bancorp. by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 511,868 shares of the bank's stock worth $13,759,000 after buying an additional 20,636 shares during the period. Allworth Financial LP acquired a new position in shares of First Financial Bancorp. during the fourth quarter valued at about $44,000. Kentucky Trust Co bought a new stake in First Financial Bancorp. during the fourth quarter worth about $76,000. Finally, Empowered Funds LLC lifted its stake in shares of First Financial Bancorp. by 5.1% during the fourth quarter. Empowered Funds LLC now owns 308,749 shares of the bank's stock valued at $8,299,000 after acquiring an additional 15,037 shares during the period. 77.23% of the stock is owned by institutional investors and hedge funds.

First Financial Bancorp. Price Performance

Shares of First Financial Bancorp. stock traded down $0.63 during midday trading on Monday, hitting $24.82. 161,121 shares of the company traded hands, compared to its average volume of 398,845. First Financial Bancorp. has a 12 month low of $20.59 and a 12 month high of $31.18. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 10.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90. The firm's fifty day moving average price is $27.36 and its 200-day moving average price is $26.99.

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First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last issued its earnings results 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 return on equity of 10.52% and a net margin of 18.67%. As a group, sell-side analysts forecast that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Monday, March 3rd. First Financial Bancorp.'s dividend payout ratio is 40.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Stephens restated an "overweight" rating and set a $33.00 target price on shares of First Financial Bancorp. in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on First Financial Bancorp. from $31.00 to $32.00 and gave the company a "market perform" rating in a report on Monday, January 27th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $30.00 price objective on shares of First Financial Bancorp. in a research note on Monday, January 27th.

First Financial Bancorp. Company 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.