PineBridge Investments L.P. increased its stake in shares of First Financial Bancorp (NASDAQ:FFBC) by 4.2% during the second quarter, Holdings Channel reports. The fund owned 7,845 shares of the company’s stock after buying an additional 314 shares during the period. PineBridge Investments L.P.’s holdings in First Financial Bancorp were worth $153,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of FFBC. 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. Teacher Retirement System of Texas raised its stake in First Financial Bancorp by 11.1% in the second quarter. Teacher Retirement System of Texas now owns 8,615 shares of the company’s stock valued at $168,000 after buying an additional 864 shares during the last quarter. Societe Generale bought a new stake in First Financial Bancorp during the second quarter valued at about $172,000. SG Americas Securities LLC raised its stake in First Financial Bancorp by 54.1% in the second quarter. SG Americas Securities LLC now owns 8,825 shares of the company’s stock valued at $172,000 after buying an additional 3,100 shares during the last quarter. Finally, Lincoln National Corp raised its stake in First Financial Bancorp by 0.9% in the second quarter. Lincoln National Corp now owns 10,265 shares of the company’s stock valued at $200,000 after buying an additional 90 shares during the last quarter. 72.70% of the stock is owned by institutional investors and hedge funds.
First Financial Bancorp (NASDAQ:FFBC) opened at 21.84 on Friday. The stock has a market capitalization of $1.35 billion, a P/E ratio of 16.80 and a beta of 1.25. First Financial Bancorp has a 12-month low of $13.76 and a 12-month high of $22.53. The firm’s 50-day moving average price is $21.76 and its 200 day moving average price is $20.04.
First Financial Bancorp (NASDAQ:FFBC) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ 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 last year, the company posted $0.31 earnings per share. On average, equities analysts anticipate that First Financial Bancorp will post $1.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.64 annualized dividend and a yield of 2.93%. First Financial Bancorp’s dividend payout ratio (DPR) is currently 49.23%.
Several equities research analysts have recently weighed in on FFBC shares. Zacks Investment Research upgraded First Financial Bancorp from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a report on Monday, July 25th. Keefe, Bruyette & Woods increased their price target on First Financial Bancorp from $19.00 to $21.00 and gave the stock a “market perform” rating in a report on Monday, July 25th. Hilliard Lyons downgraded First Financial Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, July 25th. Barclays PLC increased their price target on First Financial Bancorp from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Monday, July 25th. Finally, Jefferies Group reiterated a “hold” rating and issued a $21.00 price target on shares of First Financial Bancorp in a report on Thursday, July 7th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $20.21.
In other news, Director Knapke Murph sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $21.20, for a total transaction of $318,000.00. Following the transaction, the director now directly owns 50,929 shares in the company, valued at approximately $1,079,694.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Anthony M. Stollings sold 13,081 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $21.11, for a total value of $276,139.91. The disclosure for this sale can be found here. Company 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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