Raymond James & Associates Sells 4,405 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Raymond James & Associates cut its position in shares of First Financial Bancorp. (NASDAQ:FFBC) by 7.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,000 shares of the bank’s stock after selling 4,405 shares during the quarter. Raymond James & Associates’ holdings in First Financial Bancorp. were worth $1,282,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. boosted its position in shares of First Financial Bancorp. by 27.3% during the third quarter. American Century Companies Inc. now owns 100,709 shares of the bank’s stock valued at $1,974,000 after purchasing an additional 21,622 shares in the last quarter. Deutsche Bank AG boosted its holdings in First Financial Bancorp. by 13.8% in the third quarter. Deutsche Bank AG now owns 45,998 shares of the bank’s stock worth $902,000 after acquiring an additional 5,577 shares in the last quarter. Comerica Bank bought a new stake in First Financial Bancorp. in the third quarter worth $1,140,000. Mercer Global Advisors Inc. ADV boosted its holdings in First Financial Bancorp. by 2.3% in the third quarter. Mercer Global Advisors Inc. ADV now owns 23,220 shares of the bank’s stock worth $455,000 after acquiring an additional 526 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in First Financial Bancorp. by 10.1% in the third quarter. Royal Bank of Canada now owns 90,268 shares of the bank’s stock worth $1,769,000 after acquiring an additional 8,299 shares in the last quarter. 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. First Financial Bancorp. has a 1-year low of $17.23 and a 1-year high of $24.99. The business has a fifty day moving average price of $21.74 and a 200-day moving average price of $21.55. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $2.08 billion, a P/E ratio of 8.14 and a beta of 1.05.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings results on Thursday, January 25th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. First Financial Bancorp. had a return on equity of 12.16% and a net margin of 22.94%. The firm had revenue of $202.43 million during the quarter, compared to analysts’ expectations of $207.95 million. Equities analysts forecast that First Financial Bancorp. will post 2.3 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.20%. The ex-dividend date was Thursday, February 29th. First Financial Bancorp.’s dividend payout ratio is currently 34.20%.

Wall Street Analyst Weigh In

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

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.