Bridgeway Capital Management LLC Boosts Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

Bridgeway Capital Management LLC raised its position in shares of First Financial Bancorp. (NASDAQ:FFBC) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 677,283 shares of the bank’s stock after buying an additional 20,701 shares during the period. Bridgeway Capital Management LLC’s holdings in First Financial Bancorp. were worth $18,205,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in First Financial Bancorp. during the fourth quarter valued at approximately $8,961,000. First Trust Advisors LP increased its position in shares of First Financial Bancorp. by 38.3% during the fourth quarter. First Trust Advisors LP now owns 1,186,286 shares of the bank’s stock worth $31,887,000 after purchasing an additional 328,788 shares in the last quarter. Norges Bank purchased a new stake in shares of First Financial Bancorp. during the 4th quarter valued at $7,827,000. Hsbc Holdings PLC boosted its position in shares of First Financial Bancorp. by 713.5% in the 4th quarter. Hsbc Holdings PLC now owns 265,843 shares of the bank’s stock worth $7,149,000 after purchasing an additional 233,163 shares in the last quarter. Finally, Invesco Ltd. grew its stake in First Financial Bancorp. by 98.0% during the 4th quarter. Invesco Ltd. now owns 447,824 shares of the bank’s stock worth $12,038,000 after buying an additional 221,683 shares during the last quarter. 77.23% of the stock is currently owned by institutional investors.

Insider Activity at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total transaction of $189,392.00. Following the transaction, the insider now owns 11,141 shares in the company, valued at $277,633.72. The trade was a 40.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.04% of the stock is owned by corporate insiders.

First Financial Bancorp. Stock Performance

Shares of FFBC stock opened at $23.96 on Tuesday. The business has a fifty day moving average of $24.09 and a 200 day moving average of $26.49. First Financial Bancorp. has a 1 year low of $20.59 and a 1 year high of $31.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 9.98 and a beta of 0.94.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.63 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.63. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. The company had revenue of $201.59 million during the quarter, compared to analyst estimates of $214.80 million. During the same period last year, the firm posted $0.59 EPS. First Financial Bancorp.’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts expect that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 4.01%. First Financial Bancorp.’s payout ratio is presently 39.83%.

Analyst Ratings Changes

FFBC has been the subject of a number of research analyst reports. Stephens reiterated an “overweight” rating and issued a $33.00 price target on shares of First Financial Bancorp. in a research note on Friday, January 24th. Keefe, Bruyette & Woods decreased their price objective on shares of First Financial Bancorp. from $31.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Finally, Royal Bank of Canada lowered their target price on shares of First Financial Bancorp. from $30.00 to $27.00 and set a “sector perform” rating for the company in a research note on Monday, April 28th.

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.