Franklin Resources Inc. Sells 4,945 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Franklin Resources Inc. lessened its holdings in First Financial Bancorp. (NASDAQ:FFBCFree Report) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,420 shares of the bank’s stock after selling 4,945 shares during the period. Franklin Resources Inc. owned approximately 0.08% of First Financial Bancorp. worth $1,767,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FFBC. Norges Bank bought a new stake in First Financial Bancorp. in the fourth quarter worth $15,348,000. Dimensional Fund Advisors LP boosted its stake in First Financial Bancorp. by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,625,010 shares of the bank’s stock worth $157,347,000 after buying an additional 155,097 shares during the period. Denali Advisors LLC boosted its stake in First Financial Bancorp. by 64.7% during the fourth quarter. Denali Advisors LLC now owns 156,000 shares of the bank’s stock worth $3,705,000 after buying an additional 61,300 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in First Financial Bancorp. by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,163,204 shares of the bank’s stock worth $27,626,000 after buying an additional 56,755 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in First Financial Bancorp. during the fourth quarter worth $1,130,000. Institutional investors own 77.23% of the company’s stock.

First Financial Bancorp. Stock Down 1.7 %

Shares of FFBC opened at $21.69 on Tuesday. The firm has a market capitalization of $2.07 billion, a P/E ratio of 8.75 and a beta of 1.02. First Financial Bancorp. has a 12-month low of $17.23 and a 12-month high of $24.99. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average price of $22.38 and a 200-day moving average price of $22.34.

First Financial Bancorp. (NASDAQ:FFBCGet Free Report) last issued its earnings results on Friday, April 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. The firm had revenue of $287.20 million during the quarter, compared to analyst estimates of $201.79 million. First Financial Bancorp. had a net margin of 20.74% and a return on equity of 11.22%. During the same period in the previous year, the firm earned $0.76 earnings per share. Equities research analysts expect that First Financial Bancorp. will post 2.42 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Monday, June 3rd. First Financial Bancorp.’s dividend payout ratio is currently 37.10%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FFBC shares. Piper Sandler started coverage on shares of First Financial Bancorp. in a research note on Friday, February 23rd. They set an “overweight” rating and a $26.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price objective on shares of First Financial Bancorp. in a research note on Tuesday, April 9th.

Read Our Latest Analysis on FFBC

Insider Activity at First Financial Bancorp.

In related news, insider Richard S. Dennen sold 10,500 shares of First Financial Bancorp. stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $23.64, for a total value of $248,220.00. Following the completion of the sale, the insider now directly owns 93,152 shares in the company, valued at $2,202,113.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.04% of the stock is currently owned by corporate insiders.

First Financial Bancorp. Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for First Financial Bancorp. (NASDAQ:FFBC)

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