ExodusPoint Capital Management LP Cuts Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

ExodusPoint Capital Management LP lowered its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 63.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,039 shares of the bank's stock after selling 92,862 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.06% of First Financial Bancorp. worth $1,453,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in First Financial Bancorp. during the third quarter valued at about $30,000. ORG Partners LLC bought a new position in First Financial Bancorp. during the fourth quarter valued at $35,000. Allworth Financial LP purchased a new stake in First Financial Bancorp. in the 4th quarter worth about $44,000. Smartleaf Asset Management LLC lifted its stake in shares of First Financial Bancorp. by 221.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank's stock worth $73,000 after acquiring an additional 1,873 shares during the last quarter. Finally, Kentucky Trust Co bought a new position in shares of First Financial Bancorp. in the fourth quarter worth about $76,000. Institutional investors own 77.23% of the company's stock.

First Financial Bancorp. Stock Performance

Shares of First Financial Bancorp. stock traded up $0.48 on Tuesday, reaching $22.59. 52,908 shares of the stock were exchanged, compared to its average volume of 406,482. First Financial Bancorp. has a twelve month low of $20.59 and a twelve month high of $31.18. The business has a 50 day moving average price of $25.49 and a two-hundred day moving average price of $26.67. 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 firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 9.41 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%. Analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.24 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.25%. First Financial Bancorp.'s payout ratio is currently 40.00%.

Insider Activity

In related news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 11,141 shares in the company, valued at approximately $277,633.72. This trade represents a 40.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.04% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Stephens reaffirmed 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 boosted their target price 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. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $30.00 price objective on shares of First Financial Bancorp. in a research note 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.