Natixis Advisors L.P. Has $658,000 Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

Natixis Advisors L.P. reduced its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,246 shares of the bank’s stock after selling 2,296 shares during the quarter. Natixis Advisors L.P.’s holdings in First Financial Bancorp. were worth $658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in First Financial Bancorp. by 13.4% during the first quarter. American Century Companies Inc. now owns 41,096 shares of the bank’s stock worth $878,000 after purchasing an additional 4,867 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in First Financial Bancorp. by 9.3% during the first quarter. Envestnet Asset Management Inc. now owns 95,597 shares of the bank’s stock worth $2,081,000 after purchasing an additional 8,102 shares during the last quarter. Rhumbline Advisers boosted its holdings in First Financial Bancorp. by 4.4% during the first quarter. Rhumbline Advisers now owns 318,264 shares of the bank’s stock worth $6,929,000 after purchasing an additional 13,443 shares during the last quarter. Fidelity National Financial Inc. purchased a new position in First Financial Bancorp. during the first quarter worth about $4,354,000. Finally, Credit Suisse AG boosted its holdings in First Financial Bancorp. by 3.8% during the first quarter. Credit Suisse AG now owns 112,547 shares of the bank’s stock worth $2,450,000 after purchasing an additional 4,099 shares during the last quarter. 75.92% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bancorp. Stock Performance

NASDAQ FFBC opened at $20.39 on Thursday. The company’s 50 day moving average is $21.88 and its 200-day moving average is $21.48. First Financial Bancorp. has a 12-month low of $17.99 and a 12-month high of $26.72. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1.94 billion, a P/E ratio of 7.47 and a beta of 1.09.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). First Financial Bancorp. had a net margin of 26.49% and a return on equity of 12.89%. The business had revenue of $212.49 million during the quarter, compared to the consensus estimate of $212.34 million. During the same period last year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 20.8% on a year-over-year basis. Sell-side analysts predict that First Financial Bancorp. will post 2.73 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend is Thursday, August 31st. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 33.45%.

Analyst Ratings Changes

FFBC has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 target price on shares of First Financial Bancorp. in a research note on Monday, July 24th. Stephens reiterated an “equal weight” rating and issued a $24.00 target price on shares of First Financial Bancorp. in a research note on Friday, July 21st. StockNews.com initiated coverage on shares of First Financial Bancorp. in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Piper Sandler upgraded shares of First Financial Bancorp. from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $23.00 to $24.00 in a research note on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.75.

Insider Buying and Selling

In related news, insider Richard S. Dennen sold 11,640 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $21.53, for a total transaction of $250,609.20. Following the sale, the insider now owns 90,350 shares of the company’s stock, valued at approximately $1,945,235.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.11% of the stock is currently owned by 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 accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers.