47,600 Shares in First Financial Bancorp. (NASDAQ:FFBC) Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in shares of First Financial Bancorp. (NASDAQ:FFBC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 47,600 shares of the bank’s stock, valued at approximately $1,130,000.

Other large investors have also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. lifted its position in shares of First Financial Bancorp. by 191.7% in the 3rd quarter. Ronald Blue Trust Inc. now owns 2,427 shares of the bank’s stock valued at $50,000 after acquiring an additional 1,595 shares in the last quarter. Blue Trust Inc. lifted its position in First Financial Bancorp. by 23.3% in the 4th quarter. Blue Trust Inc. now owns 2,993 shares of the bank’s stock worth $71,000 after buying an additional 566 shares in the last quarter. Planned Solutions Inc. purchased a new stake in First Financial Bancorp. in the 4th quarter worth approximately $101,000. Allspring Global Investments Holdings LLC lifted its position in First Financial Bancorp. by 19.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,189 shares of the bank’s stock worth $121,000 after buying an additional 1,028 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in First Financial Bancorp. by 72.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the bank’s stock worth $168,000 after buying an additional 2,977 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors.

First Financial Bancorp. Stock Performance

Shares of FFBC opened at $22.60 on Wednesday. The company’s fifty day moving average is $21.74 and its 200-day moving average is $21.61. First Financial Bancorp. has a 12 month low of $17.23 and a 12 month high of $24.99. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 8.40 and a beta of 1.05. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.50.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FFBC shares. Piper Sandler started coverage on shares of First Financial Bancorp. in a research report on Friday, February 23rd. They issued an “overweight” rating and a $26.00 target price for the company. 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 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.