Raymond James Financial Inc. Purchases Shares of 333,405 First Financial Bancorp. (NASDAQ:FFBC)

Raymond James Financial Inc. bought a new position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 333,405 shares of the bank's stock, valued at approximately $8,961,000. Raymond James Financial Inc. owned 0.35% of First Financial Bancorp. at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of 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 acquiring an additional 20,449 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in First Financial Bancorp. during the 4th quarter valued at approximately $273,000. Geode Capital Management LLC raised its holdings in 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 worth $57,333,000 after purchasing an additional 34,977 shares during the last quarter. Citigroup Inc. raised its holdings in First Financial Bancorp. by 25.2% during the 3rd 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 last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of First Financial Bancorp. in the 3rd quarter worth approximately $2,792,000. Institutional investors own 77.23% of the company's stock.

Insider Activity

In related news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total value of $189,392.00. Following the completion of the sale, the insider now owns 11,141 shares of the company's stock, valued at approximately $277,633.72. This trade represents a 40.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.04% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Stephens reiterated an "overweight" rating and set a $33.00 price objective on shares of First Financial Bancorp. in a research report on Friday, January 24th. 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. Finally, Keefe, Bruyette & Woods lifted their price objective on First Financial Bancorp. from $31.00 to $32.00 and gave the stock a "market perform" rating in a research report on Monday, January 27th.

First Financial Bancorp. Stock Up 0.0 %

Shares of First Financial Bancorp. stock traded up $0.01 during trading on Tuesday, reaching $25.36. 399,968 shares of the company traded hands, compared to its average volume of 363,188. The firm has a market capitalization of $2.42 billion, a PE ratio of 10.57 and a beta of 0.99. First Financial Bancorp. has a 1-year low of $20.59 and a 1-year high of $31.18. The company has a 50 day moving average price of $26.97 and a 200-day moving average price of $26.88. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.90 and a quick ratio of 0.90.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last announced 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, equities research analysts expect that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid 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 3.79%. First Financial Bancorp.'s dividend payout ratio (DPR) is presently 40.00%.

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.