Invesco Ltd. boosted its stake in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 98.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 447,824 shares of the bank's stock after buying an additional 221,683 shares during the quarter. Invesco Ltd. owned approximately 0.47% of First Financial Bancorp. worth $12,038,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. ORG Partners LLC bought a new stake in First Financial Bancorp. in the 4th quarter worth about $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 stake in First Financial Bancorp. by 221.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank's stock valued at $73,000 after purchasing an additional 1,873 shares during the period. Kentucky Trust Co bought a new stake in shares of First Financial Bancorp. during the 4th quarter worth $76,000. Finally, KBC Group NV boosted its holdings 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 worth $138,000 after buying an additional 2,333 shares during the last quarter. 77.23% of the stock is currently owned by institutional investors.
Insider Transactions at First Financial Bancorp.
In related news, insider James R. Shank sold 7,600 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total value of $189,392.00. Following the sale, the insider now 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 filing with the SEC, which is accessible through the SEC website. Insiders own 2.04% of the company's stock.
First Financial Bancorp. Stock Performance
Shares of FFBC stock traded down $1.19 during trading on Friday, reaching $22.81. 355,811 shares of the company's stock traded hands, compared to its average volume of 417,561. The firm's 50-day moving average is $24.64 and its 200 day moving average is $26.57. The company has a market capitalization of $2.17 billion, a P/E ratio of 9.52 and a beta of 0.85. First Financial Bancorp. has a 1 year low of $20.59 and a 1 year high of $31.18. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40.
First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.06. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. Equities research analysts expect that First Financial Bancorp. will post 2.64 EPS for the current year.
First Financial Bancorp. Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Monday, March 3rd. First Financial Bancorp.'s dividend payout ratio is presently 40.00%.
Wall Street Analysts Forecast Growth
FFBC has been the topic of several research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $30.00 price objective on shares of First Financial Bancorp. in a research report on Monday, January 27th. Stephens reiterated an "overweight" rating and issued a $33.00 price objective on shares of First Financial Bancorp. in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their price objective 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.
Read Our Latest Stock Report on FFBC
About First Financial Bancorp.
(
Free Report)
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.
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