Thrivent Financial for Lutherans Cuts Position in First Financial Bancorp. (NASDAQ:FFBC)

Thrivent Financial for Lutherans trimmed its holdings in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,798 shares of the bank's stock after selling 24,483 shares during the period. Thrivent Financial for Lutherans owned about 0.13% of First Financial Bancorp. worth $3,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new position in First Financial Bancorp. during the 3rd quarter valued at about $30,000. ORG Partners LLC purchased a new position in shares of First Financial Bancorp. during the fourth quarter valued at approximately $35,000. Allworth Financial LP bought a new stake in First Financial Bancorp. during the fourth quarter worth $44,000. Smartleaf Asset Management LLC grew its holdings 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 worth $73,000 after buying an additional 1,873 shares in the last quarter. Finally, Kentucky Trust Co bought a new position in First Financial Bancorp. during the 4th quarter valued at $76,000. 77.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FFBC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the company a "market perform" rating in a research report on Monday, January 27th. Stephens reaffirmed an "overweight" rating and issued a $33.00 target price on shares of First Financial Bancorp. in a report on Friday, January 24th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $30.00 price target on shares of First Financial Bancorp. in a report on Monday, January 27th.

Remove Ads

First Financial Bancorp. Stock Performance

FFBC traded down $0.49 during trading hours on Friday, hitting $24.80. The stock had a trading volume of 293,375 shares, compared to its average volume of 397,844. First Financial Bancorp. has a 1 year low of $20.59 and a 1 year high of $31.18. The company's fifty day simple moving average is $26.78 and its 200 day simple moving average is $26.88. The stock has a market cap of $2.37 billion, a PE ratio of 10.33 and a beta of 0.99. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40.

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

First Financial Bancorp. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 annualized dividend and a dividend yield of 3.87%. First Financial Bancorp.'s payout ratio is currently 40.00%.

Insider Buying and Selling

In related 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 completion of the transaction, the insider now directly owns 11,141 shares in the company, valued at $277,633.72. The trade was a 40.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.04% of the stock is currently owned by company insiders.

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.