Nisa Investment Advisors LLC Acquires 2,977 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Nisa Investment Advisors LLC lifted its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC) by 72.6% during the fourth quarter, HoldingsChannel reports. The firm owned 7,077 shares of the bank’s stock after purchasing an additional 2,977 shares during the quarter. Nisa Investment Advisors LLC’s holdings in First Financial Bancorp. were worth $168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions Corp. bought a new stake in shares of First Financial Bancorp. during the 4th quarter worth $48,000. Ronald Blue Trust Inc. raised its stake in shares of First Financial Bancorp. by 191.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,427 shares of the bank’s stock worth $50,000 after purchasing an additional 1,595 shares during the period. Coppell Advisory Solutions LLC bought a new stake in First Financial Bancorp. in the 2nd quarter valued at about $50,000. Belpointe Asset Management LLC raised its stake in First Financial Bancorp. by 74.9% in the 1st quarter. Belpointe Asset Management LLC now owns 2,335 shares of the bank’s stock valued at $51,000 after acquiring an additional 1,000 shares during the period. Finally, Quarry LP bought a new stake in First Financial Bancorp. in the 1st quarter valued at about $55,000. 77.23% of the stock is currently owned by institutional investors.

First Financial Bancorp. Stock Up 3.9 %

FFBC stock opened at $21.89 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $2.08 billion, a PE ratio of 8.14 and a beta of 1.05. First Financial Bancorp. has a twelve month low of $17.23 and a twelve month high of $24.99. The stock has a 50-day simple moving average of $21.74 and a two-hundred day simple moving average of $21.55.

First Financial Bancorp. (NASDAQ:FFBC) last posted its earnings results on Thursday, January 25th. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The business had revenue of $202.43 million during the quarter, compared to analyst estimates of $207.95 million. First Financial Bancorp. had a return on equity of 12.16% and a net margin of 22.94%. On average, equities analysts predict that First Financial Bancorp. will post 2.3 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Thursday, February 29th. First Financial Bancorp.’s payout ratio is presently 34.20%.

Wall Street Analysts Forecast Growth

FFBC has been the topic of a number of research reports. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price objective on shares of First Financial Bancorp. in a research note on Tuesday, April 9th. Piper Sandler initiated coverage on First Financial Bancorp. in a research note on Friday, February 23rd. They issued an “overweight” rating and a $26.00 price objective on the stock.

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.