HighTower Advisors LLC Has $1.56 Million Position in First Financial Bancorp. (NASDAQ:FFBC)

HighTower Advisors LLC grew its position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 488.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,170 shares of the bank's stock after buying an additional 48,281 shares during the period. HighTower Advisors LLC owned approximately 0.06% of First Financial Bancorp. worth $1,564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. grew its position in First Financial Bancorp. by 4.3% during the third quarter. Principal Financial Group Inc. now owns 491,232 shares of the bank's stock worth $12,394,000 after buying an additional 20,449 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in shares of First Financial Bancorp. in the fourth quarter worth $273,000. Geode Capital Management LLC raised its stake in First Financial Bancorp. by 1.6% in the third quarter. Geode Capital Management LLC now owns 2,271,990 shares of the bank's stock valued at $57,333,000 after purchasing an additional 34,977 shares in the last quarter. Citigroup Inc. lifted its position in First Financial Bancorp. by 25.2% during the third quarter. Citigroup Inc. now owns 166,170 shares of the bank's stock worth $4,192,000 after purchasing an additional 33,464 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in First Financial Bancorp. during the third quarter worth about $2,792,000. 77.23% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bancorp. Price Performance

Shares of FFBC stock traded down $0.49 on Friday, reaching $24.80. The company had a trading volume of 293,375 shares, compared to its average volume of 397,660. The business's 50-day moving average is $26.84 and its 200 day moving average is $26.86. First Financial Bancorp. has a one year low of $20.59 and a one year high of $31.18. 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 $2.37 billion, a PE ratio of 10.33 and a beta of 0.99.

Remove Ads

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last issued 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%. Equities research analysts forecast that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.87%. First Financial Bancorp.'s payout ratio is presently 40.00%.

Insider Buying and Selling at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total transaction of $189,392.00. Following the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.04% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FFBC. Stephens restated an "overweight" rating and issued a $33.00 target price on shares of First Financial Bancorp. in a research report on Friday, January 24th. Royal Bank of Canada restated a "sector perform" rating and set a $30.00 price objective on shares of First Financial Bancorp. in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised their target price 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.

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.