First Financial Bancorp. (NASDAQ:FFBC) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,271,990 shares of the bank's stock after buying an additional 34,977 shares during the period. Geode Capital Management LLC owned 2.38% of First Financial Bancorp. worth $57,333,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Financial Management Professionals Inc. purchased a new stake in First Financial Bancorp. during the third quarter valued at about $28,000. Point72 DIFC Ltd purchased a new stake in shares of First Financial Bancorp. during the 3rd quarter worth about $30,000. Bogart Wealth LLC grew its holdings in shares of First Financial Bancorp. by 2,976.9% during the 3rd quarter. Bogart Wealth LLC now owns 2,000 shares of the bank's stock worth $50,000 after purchasing an additional 1,935 shares during the period. Innealta Capital LLC acquired a new stake in First Financial Bancorp. during the 2nd quarter worth approximately $77,000. Finally, nVerses Capital LLC purchased a new position in First Financial Bancorp. in the second quarter valued at approximately $96,000. 77.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Financial Bancorp.

In other news, insider Scott T. Crawley sold 3,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.31, for a total value of $87,930.00. Following the sale, the insider now owns 19,279 shares in the company, valued at approximately $565,067.49. This represents a 13.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James R. Shank sold 3,700 shares of First Financial Bancorp. stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $26.34, for a total value of $97,458.00. Following the completion of the transaction, the insider now owns 15,374 shares of the company's stock, valued at $404,951.16. This trade represents a 19.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,700 shares of company stock valued at $335,429. 2.04% of the stock is currently owned by insiders.

First Financial Bancorp. Stock Down 0.3 %

First Financial Bancorp. stock traded down $0.07 during midday trading on Monday, hitting $27.24. 349,507 shares of the company were exchanged, compared to its average volume of 384,124. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.91 and a quick ratio of 0.91. First Financial Bancorp. has a fifty-two week low of $20.59 and a fifty-two week high of $31.18. The company's fifty day moving average price is $27.86 and its 200-day moving average price is $25.56. The company has a market cap of $2.60 billion, a PE ratio of 11.74 and a beta of 1.01.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last announced its earnings results on Thursday, October 24th. The bank reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. First Financial Bancorp. had a net margin of 18.55% and a return on equity of 10.32%. The business had revenue of $302.82 million during the quarter, compared to the consensus estimate of $214.00 million. During the same period in the prior year, the firm earned $0.67 earnings per share. On average, research analysts predict that First Financial Bancorp. will post 2.53 EPS for the current fiscal year.

First Financial Bancorp. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.52%. First Financial Bancorp.'s dividend payout ratio is presently 41.38%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of First Financial Bancorp. from $28.00 to $31.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Stephens raised shares of First Financial Bancorp. from an "equal weight" rating to an "overweight" rating in a research report on Monday, December 9th.

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.