Denali Advisors LLC Cuts Holdings in First Financial Bancorp. (NASDAQ:FFBC)

Denali Advisors LLC lowered its position in First Financial Bancorp. (NASDAQ:FFBC) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,700 shares of the bank’s stock after selling 20,700 shares during the quarter. Denali Advisors LLC’s holdings in First Financial Bancorp. were worth $6,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of First Financial Bancorp. by 140.1% in the 3rd quarter. Barclays PLC now owns 190,742 shares of the bank’s stock valued at $4,812,000 after purchasing an additional 111,309 shares in the last quarter. Edgestream Partners L.P. purchased a new position in First Financial Bancorp. in the third quarter valued at approximately $2,792,000. Segall Bryant & Hamill LLC acquired a new position in First Financial Bancorp. during the third quarter valued at approximately $2,013,000. Thrivent Financial for Lutherans grew its stake in First Financial Bancorp. by 73.1% during 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 period. Finally, FMR LLC increased its position in shares of First Financial Bancorp. by 397.8% in the third quarter. FMR LLC now owns 73,750 shares of the bank’s stock worth $1,861,000 after acquiring an additional 58,935 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bancorp. Trading Up 0.3 %

NASDAQ FFBC opened at $26.98 on Wednesday. The stock has a market cap of $2.57 billion, a P/E ratio of 11.24 and a beta of 1.02. The company’s fifty day simple moving average is $27.49 and its 200-day simple moving average is $26.90. 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. has a 52 week low of $20.59 and a 52 week high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. Equities research analysts predict that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Monday, March 3rd. First Financial Bancorp.’s dividend payout ratio is currently 40.00%.

Wall Street Analyst Weigh In

FFBC has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Stephens reissued an “overweight” rating and issued a $33.00 price objective on shares of First Financial Bancorp. in a research report on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $30.00 target price on shares of First Financial Bancorp. in a research report on Monday, January 27th.

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.