Charles Schwab Investment Management Inc. Grows Position in First Financial Bancorp. (NASDAQ:FFBC)

Charles Schwab Investment Management Inc. lifted its holdings in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,304,922 shares of the bank's stock after purchasing an additional 22,573 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.37% of First Financial Bancorp. worth $35,076,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FFBC. Point72 DIFC Ltd bought a new stake in shares of First Financial Bancorp. in the 3rd quarter worth about $30,000. ORG Partners LLC purchased a new position in First Financial Bancorp. in the fourth quarter worth about $35,000. Allworth Financial LP bought a new stake in First Financial Bancorp. during the fourth quarter worth approximately $44,000. Smartleaf Asset Management LLC raised its position in First Financial Bancorp. by 221.9% during 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 during the period. Finally, Kentucky Trust Co bought a new stake in shares of First Financial Bancorp. in the 4th quarter valued at approximately $76,000. Institutional investors own 77.23% of the company's stock.

First Financial Bancorp. Trading Down 1.0 %

Shares of FFBC stock traded down $0.25 on Thursday, reaching $24.78. 178,482 shares of the company's stock were exchanged, compared to its average volume of 360,775. The company's fifty day simple moving average is $27.03 and its 200 day simple moving average is $26.90. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $2.36 billion, a PE ratio of 10.38 and a beta of 0.99.

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First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last released its earnings results on Thursday, January 23rd. The bank reported $0.71 earnings per share for the quarter, topping analysts' consensus estimates 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, analysts forecast that First Financial Bancorp. will post 2.64 EPS for the current year.

First Financial Bancorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.24 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.96 annualized dividend and a yield of 3.87%. First Financial Bancorp.'s dividend payout ratio (DPR) is 40.00%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, insider James R. Shank sold 7,600 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total value of $189,392.00. Following the completion of the sale, the insider now owns 11,141 shares in the company, valued at approximately $277,633.72. The trade was a 40.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.