Franklin Resources Inc. Has $1.19 Million Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

Franklin Resources Inc. lowered its holdings in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 33.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,437 shares of the bank's stock after selling 22,738 shares during the period. Franklin Resources Inc.'s holdings in First Financial Bancorp. were worth $1,194,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in First Financial Bancorp. by 4.3% during the 3rd quarter. Principal Financial Group Inc. now owns 491,232 shares of the bank's stock valued at $12,394,000 after purchasing an additional 20,449 shares during the period. Contravisory Investment Management Inc. acquired a new position in First Financial Bancorp. in the fourth quarter worth approximately $273,000. Geode Capital Management LLC lifted its position in shares of First Financial Bancorp. by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,271,990 shares of the bank's stock valued at $57,333,000 after acquiring an additional 34,977 shares during the last quarter. Vanguard Group Inc. lifted its stake in First Financial Bancorp. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,892,158 shares of the bank's stock valued at $292,781,000 after buying an additional 72,367 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of First Financial Bancorp. by 82.8% in the 4th quarter. KBC Group NV now owns 5,150 shares of the bank's stock valued at $138,000 after acquiring an additional 2,333 shares in the last quarter. 77.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at First Financial Bancorp.

In other First Financial Bancorp. 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 value of $189,392.00. Following the completion of the transaction, the insider now directly owns 11,141 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.04% of the company's stock.

First Financial Bancorp. Price Performance

First Financial Bancorp. stock traded up $0.25 during mid-day trading on Friday, hitting $22.65. 1,677,141 shares of the company were exchanged, compared to its average volume of 415,930. First Financial Bancorp. has a 1-year low of $20.59 and a 1-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 business has a fifty day moving average of $25.12 and a 200 day moving average of $26.60. The company has a market capitalization of $2.16 billion, a PE ratio of 9.44 and a beta of 0.85.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 earnings per share 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%. As a group, sell-side analysts expect that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend was Monday, March 3rd. First Financial Bancorp.'s dividend payout ratio (DPR) is currently 40.00%.

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.