PNC Financial Services Group Inc. Reduces Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

PNC Financial Services Group Inc. trimmed its position in shares of First Financial Bancorp. (NASDAQ:FFBCFree Report) by 10.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,480 shares of the bank’s stock after selling 1,358 shares during the period. PNC Financial Services Group Inc.’s holdings in First Financial Bancorp. were worth $273,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FFBC. Dimensional Fund Advisors LP lifted its position in shares of 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 purchasing an additional 155,097 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in First Financial Bancorp. by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,204 shares of the bank’s stock valued at $27,626,000 after buying an additional 56,755 shares in the last quarter. Norges Bank purchased a new stake in First Financial Bancorp. in the 4th quarter valued at about $15,348,000. Bahl & Gaynor Inc. grew its stake in First Financial Bancorp. by 2.2% in the 4th quarter. Bahl & Gaynor Inc. now owns 585,952 shares of the bank’s stock worth $13,916,000 after acquiring an additional 12,711 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of First Financial Bancorp. by 1.0% during the third quarter. Swiss National Bank now owns 209,243 shares of the bank’s stock worth $4,101,000 after acquiring an additional 2,000 shares during the period. 77.23% of the stock is owned by hedge funds and other institutional investors.

First Financial Bancorp. Stock Performance

Shares of FFBC stock opened at $21.63 on Friday. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 8.72 and a beta of 1.02. First Financial Bancorp. has a 52-week low of $17.23 and a 52-week high of $24.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $22.35 and its 200 day moving average is $22.33.

First Financial Bancorp. (NASDAQ:FFBCGet Free Report) last announced its earnings results on Friday, April 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. The business had revenue of $287.20 million for the quarter, compared to analysts’ expectations of $201.79 million. First Financial Bancorp. had a return on equity of 11.22% and a net margin of 20.74%. During the same quarter last year, the firm earned $0.76 EPS. On average, sell-side analysts anticipate that First Financial Bancorp. will post 2.42 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.23 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.92 annualized dividend and a yield of 4.25%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 37.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FFBC shares. Piper Sandler began 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. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price target on shares of First Financial Bancorp. in a research note on Tuesday, April 9th.

Check Out Our Latest Stock Report on First Financial Bancorp.

Insider Buying and Selling at First Financial Bancorp.

In other First Financial Bancorp. news, insider Richard S. Dennen sold 10,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $23.64, for a total transaction of $248,220.00. Following the sale, the insider now owns 93,152 shares of the company’s stock, valued at approximately $2,202,113.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.04% of the company’s stock.

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.

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

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