Victory Capital Management Inc. Sells 30,829 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Victory Capital Management Inc. decreased its holdings in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 9.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 308,662 shares of the bank's stock after selling 30,829 shares during the quarter. Victory Capital Management Inc. owned 0.32% of First Financial Bancorp. worth $7,788,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. purchased a new stake in First Financial Bancorp. in the third quarter valued at approximately $28,000. EntryPoint Capital LLC raised its stake in shares of First Financial Bancorp. by 63.9% during the first quarter. EntryPoint Capital LLC now owns 1,732 shares of the bank's stock worth $39,000 after purchasing an additional 675 shares during the last quarter. Bogart Wealth LLC lifted its position in First Financial Bancorp. by 2,976.9% in the third quarter. Bogart Wealth LLC now owns 2,000 shares of the bank's stock valued at $50,000 after purchasing an additional 1,935 shares during the period. Blue Trust Inc. lifted its holdings in First Financial Bancorp. by 23.1% in the second quarter. Blue Trust Inc. now owns 3,340 shares of the bank's stock valued at $75,000 after acquiring an additional 627 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of First Financial Bancorp. during the 2nd quarter worth approximately $77,000. Institutional investors and hedge funds own 77.23% of the company's stock.

Insider Activity at First Financial Bancorp.

In other news, insider Richard S. Dennen sold 932 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $30.00, for a total transaction of $27,960.00. Following the completion of the sale, the insider now owns 74,720 shares in the company, valued at approximately $2,241,600. This represents a 1.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James R. Shank sold 3,700 shares of the firm's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $26.34, for a total value of $97,458.00. Following the completion of the sale, the insider now directly owns 15,374 shares in the company, valued at approximately $404,951.16. This represents a 19.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,632 shares of company stock valued at $984,748. Company insiders own 2.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Royal Bank of Canada increased their price target on First Financial Bancorp. from $25.00 to $29.00 and gave the stock a "sector perform" rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised 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.

First Financial Bancorp. Stock Performance

Shares of First Financial Bancorp. stock traded up $0.50 on Friday, reaching $29.86. 361,787 shares of the company were exchanged, compared to its average volume of 375,065. First Financial Bancorp. has a 1-year low of $19.92 and a 1-year high of $30.11. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 12.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 0.91. The company's 50-day moving average is $26.23 and its two-hundred day moving average is $24.68.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.01. First Financial Bancorp. had a net margin of 18.55% and a return on equity of 10.32%. The business had revenue of $302.82 million for the quarter, compared to analyst estimates of $214.00 million. During the same quarter last year, the business earned $0.67 earnings per share. As a group, research analysts expect that First Financial Bancorp. will post 2.53 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.22%. The ex-dividend date is Monday, December 2nd. First Financial Bancorp.'s payout ratio is 41.38%.

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.