First Financial Bancorp. (NASDAQ:FFBC) Stock Holdings Lifted by Denali Advisors LLC

Denali Advisors LLC raised its stake in First Financial Bancorp. (NASDAQ:FFBC) by 37.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 214,600 shares of the bank’s stock after buying an additional 58,600 shares during the period. First Financial Bancorp. makes up about 1.4% of Denali Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Denali Advisors LLC owned approximately 0.23% of First Financial Bancorp. worth $4,811,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. First Financial Bank Trust Division increased its stake in shares of First Financial Bancorp. by 17.8% in the first quarter. First Financial Bank Trust Division now owns 1,038,758 shares of the bank’s stock worth $23,289,000 after acquiring an additional 157,190 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of First Financial Bancorp. by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 10,939,804 shares of the bank’s stock worth $259,820,000 after acquiring an additional 91,126 shares during the last quarter. Rafferty Asset Management LLC increased its stake in shares of First Financial Bancorp. by 60.0% in the fourth quarter. Rafferty Asset Management LLC now owns 73,270 shares of the bank’s stock worth $1,740,000 after acquiring an additional 27,479 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of First Financial Bancorp. in the fourth quarter worth $652,000. Finally, TFO Wealth Partners LLC increased its stake in shares of First Financial Bancorp. by 6,820.5% in the fourth quarter. TFO Wealth Partners LLC now owns 3,045 shares of the bank’s stock worth $72,000 after acquiring an additional 3,001 shares during the last quarter. Institutional investors own 77.23% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of First Financial Bancorp. in a research note on Tuesday, April 9th.

First Financial Bancorp. Stock Performance

FFBC stock traded down $0.49 during mid-day trading on Wednesday, reaching $21.83. 169,219 shares of the stock traded hands, compared to its average volume of 335,253. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. First Financial Bancorp. has a 52 week low of $17.23 and a 52 week high of $24.99. The business has a 50-day moving average of $22.28 and a two-hundred day moving average of $22.32. The firm has a market capitalization of $2.08 billion, a PE ratio of 8.80 and a beta of 1.01.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings results on Friday, April 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. First Financial Bancorp. had a net margin of 20.74% and a return on equity of 11.22%. The company had revenue of $287.20 million during the quarter, compared to analysts’ expectations of $201.79 million. During the same period in the prior year, the company earned $0.76 earnings per share. As a group, equities analysts predict that First Financial Bancorp. will post 2.42 EPS for the current fiscal year.

First Financial Bancorp. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Monday, June 3rd. First Financial Bancorp.’s payout ratio is presently 37.10%.

Insider Activity at First Financial Bancorp.

In related news, insider Richard S. Dennen sold 10,500 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $23.64, for a total value of $248,220.00. Following the completion of the sale, the insider now owns 93,152 shares in the company, valued at $2,202,113.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.04% of the stock is owned by corporate insiders.

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.