Royce & Associates LP Acquires 21,069 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Royce & Associates LP grew its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 26.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,922 shares of the bank's stock after purchasing an additional 21,069 shares during the quarter. Royce & Associates LP owned about 0.11% of First Financial Bancorp. worth $2,740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Natixis Advisors LLC lifted its holdings in First Financial Bancorp. by 14.9% in the 3rd quarter. Natixis Advisors LLC now owns 28,862 shares of the bank's stock worth $728,000 after purchasing an additional 3,747 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of First Financial Bancorp. by 73.1% in the third quarter. Thrivent Financial for Lutherans now owns 153,281 shares of the bank's stock worth $3,867,000 after buying an additional 64,745 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of First Financial Bancorp. during the 3rd quarter worth $2,013,000. Intech Investment Management LLC grew its stake in First Financial Bancorp. by 41.7% in the 3rd quarter. Intech Investment Management LLC now owns 21,470 shares of the bank's stock valued at $542,000 after buying an additional 6,320 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in First Financial Bancorp. by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,282,349 shares of the bank's stock worth $32,354,000 after acquiring an additional 23,472 shares during the period. Institutional investors and hedge funds own 77.23% of the company's stock.

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First Financial Bancorp. Stock Performance

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

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

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.79%. The ex-dividend date was Monday, March 3rd. First Financial Bancorp.'s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FFBC shares. Stephens restated an "overweight" rating and set a $33.00 price target on shares of First Financial Bancorp. in a report on Friday, January 24th. Keefe, Bruyette & Woods increased their target price on 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. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $30.00 price target on shares of First Financial Bancorp. in a research report on Monday, January 27th.

Insider Activity

In other news, insider James R. Shank sold 7,600 shares of the company's stock in a transaction that occurred 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 directly owns 11,141 shares in the company, valued at approximately $277,633.72. This represents a 40.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.04% of the company's stock.

First Financial Bancorp. Company 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.