Emerald Mutual Fund Advisers Trust increased its stake in shares of First Financial Bancorp (NASDAQ:FFBC) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,082 shares of the company’s stock after buying an additional 980 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in First Financial Bancorp were worth $352,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc raised its stake in First Financial Bancorp by 0.9% in the first quarter. IFP Advisors Inc now owns 5,529 shares of the company’s stock valued at $101,000 after buying an additional 49 shares during the last quarter. 1st Global Advisors Inc. increased its position in shares of First Financial Bancorp by 4.3% in the second quarter. 1st Global Advisors Inc. now owns 11,170 shares of the company’s stock valued at $217,000 after buying an additional 457 shares during the period. American Financial Group Inc. increased its position in shares of First Financial Bancorp by 18.4% in the first quarter. American Financial Group Inc. now owns 12,636 shares of the company’s stock valued at $230,000 after buying an additional 1,968 shares during the period. Park National Corp OH increased its position in shares of First Financial Bancorp by 4.6% in the second quarter. Park National Corp OH now owns 11,947 shares of the company’s stock valued at $232,000 after buying an additional 525 shares during the period. Finally, Capstone Asset Management Co. increased its position in shares of First Financial Bancorp by 1.0% in the second quarter. Capstone Asset Management Co. now owns 15,799 shares of the company’s stock valued at $307,000 after buying an additional 150 shares during the period. Institutional investors own 72.70% of the company’s stock.
Shares of First Financial Bancorp (NASDAQ:FFBC) traded up 0.98% during midday trading on Monday, reaching $21.55. The company had a trading volume of 187,031 shares. The company has a market capitalization of $1.34 billion, a P/E ratio of 16.58 and a beta of 1.19. The company’s 50 day moving average price is $21.77 and its 200-day moving average price is $20.16. First Financial Bancorp has a 52 week low of $13.76 and a 52 week high of $22.53.
First Financial Bancorp (NASDAQ:FFBC) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. First Financial Bancorp had a return on equity of 9.82% and a net margin of 22.23%. During the same quarter in the prior year, the business earned $0.31 EPS. On average, equities research analysts predict that First Financial Bancorp will post $1.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 2nd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.64 dividend on an annualized basis and a yield of 2.97%. First Financial Bancorp’s payout ratio is 49.23%.
FFBC has been the topic of several research analyst reports. Zacks Investment Research raised First Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Jefferies Group reaffirmed a “hold” rating and issued a $21.00 price objective on shares of First Financial Bancorp in a research report on Thursday, July 7th. Keefe, Bruyette & Woods upped their price objective on First Financial Bancorp from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Monday, July 25th. Raymond James Financial Inc. downgraded First Financial Bancorp from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Piper Jaffray Cos. initiated coverage on First Financial Bancorp in a research report on Thursday. They issued a “neutral” rating and a $23.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. First Financial Bancorp currently has a consensus rating of “Hold” and a consensus target price of $20.56.
In other First Financial Bancorp news, COO Anthony M. Stollings sold 13,081 shares of First Financial Bancorp stock in a transaction on Monday, August 1st. The stock was sold at an average price of $21.11, for a total value of $276,139.91. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Holly M. Foster sold 2,021 shares of First Financial Bancorp stock in a transaction on Friday, August 5th. The shares were sold at an average price of $21.84, for a total value of $44,138.64. Following the completion of the sale, the executive vice president now owns 4,979 shares in the company, valued at approximately $108,741.36. The disclosure for this sale can be found here. Corporate insiders own 2.19% of the company’s stock.
About First Financial Bancorp
First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.
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