Renaissance Technologies LLC Takes Position in First Financial Bancorp. (NASDAQ:FFBC)

Renaissance Technologies LLC acquired a new stake in First Financial Bancorp. (NASDAQ:FFBC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 54,237 shares of the bank's stock, valued at approximately $1,205,000. Renaissance Technologies LLC owned approximately 0.06% of First Financial Bancorp. at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. EntryPoint Capital LLC raised its stake in shares of First Financial Bancorp. by 63.9% in the 1st quarter. EntryPoint Capital LLC now owns 1,732 shares of the bank's stock worth $39,000 after buying an additional 675 shares in the last quarter. Blue Trust Inc. raised its position in First Financial Bancorp. by 23.1% in the second quarter. Blue Trust Inc. now owns 3,340 shares of the bank's stock worth $75,000 after acquiring an additional 627 shares in the last quarter. Innealta Capital LLC acquired a new stake in First Financial Bancorp. in the 2nd quarter valued at about $77,000. nVerses Capital LLC bought a new position in shares of First Financial Bancorp. during the 2nd quarter valued at about $96,000. Finally, Picton Mahoney Asset Management acquired a new position in shares of First Financial Bancorp. in the 2nd quarter worth approximately $169,000. Institutional investors and hedge funds own 77.23% of the company's stock.

Wall Street Analysts Forecast Growth

FFBC has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of First Financial Bancorp. from $25.00 to $27.00 and gave the company a "market perform" rating in a research note on Monday, July 29th. Royal Bank of Canada increased their price objective on First Financial Bancorp. from $25.00 to $29.00 and gave the company a "sector perform" rating in a research report on Monday, July 29th.

Insider Activity at First Financial Bancorp.

In other First Financial Bancorp. news, insider Claude E. Davis sold 29,000 shares of First Financial Bancorp. stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $26.60, for a total transaction of $771,400.00. Following the transaction, the insider now owns 53,576 shares of the company's stock, valued at $1,425,121.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.04% of the stock is owned by insiders.

First Financial Bancorp. Stock Performance

Shares of FFBC opened at $24.30 on Friday. The company has a 50-day moving average of $25.32 and a two-hundred day moving average of $23.50. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 9.80 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.93. First Financial Bancorp. has a one year low of $17.23 and a one year high of $28.25.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. First Financial Bancorp. had a net margin of 19.67% and a return on equity of 10.69%. The business had revenue of $314.22 million during the quarter, compared to the consensus estimate of $203.50 million. During the same quarter in the prior year, the firm earned $0.72 EPS. On average, equities research analysts expect that First Financial Bancorp. will post 2.58 earnings per share for the current year.

First Financial Bancorp. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were issued a dividend of $0.24 per share. This is an increase from First Financial Bancorp.'s previous quarterly dividend of $0.23. The ex-dividend date was Friday, August 30th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.95%. First Financial Bancorp.'s payout ratio is currently 38.71%.

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.