Thrivent Financial for Lutherans Has $1.97 Million Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

Thrivent Financial for Lutherans reduced its stake in shares of First Financial Bancorp. (NASDAQ:FFBC) by 38.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,536 shares of the bank’s stock after selling 56,048 shares during the quarter. Thrivent Financial for Lutherans owned about 0.09% of First Financial Bancorp. worth $1,967,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Sei Investments Co. grew its position in shares of First Financial Bancorp. by 8.7% during the 2nd quarter. Sei Investments Co. now owns 69,266 shares of the bank’s stock worth $1,539,000 after buying an additional 5,551 shares during the period. AE Wealth Management LLC bought a new position in shares of First Financial Bancorp. during the 2nd quarter valued at about $762,000. Intech Investment Management LLC bought a new position in shares of First Financial Bancorp. during the 2nd quarter valued at about $337,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of First Financial Bancorp. by 12.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 24,848 shares of the bank’s stock valued at $552,000 after purchasing an additional 2,716 shares in the last quarter. Finally, Denali Advisors LLC lifted its holdings in shares of First Financial Bancorp. by 41.1% during the 2nd quarter. Denali Advisors LLC now owns 302,700 shares of the bank’s stock valued at $6,726,000 after purchasing an additional 88,100 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FFBC has been the topic of several research reports. Keefe, Bruyette & Woods boosted their target price on First Financial Bancorp. from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Royal Bank of Canada boosted their target price on First Financial Bancorp. from $25.00 to $29.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th.

Insider Transactions at First Financial Bancorp.

In other news, insider Claude E. Davis sold 29,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $26.60, for a total transaction of $771,400.00. Following the sale, the insider now directly owns 53,576 shares of the company’s stock, valued at approximately $1,425,121.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.04% of the stock is currently owned by insiders.

First Financial Bancorp. Stock Down 3.4 %

FFBC stock opened at $24.37 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $2.33 billion, a PE ratio of 9.83 and a beta of 0.99. First Financial Bancorp. has a 1-year low of $17.23 and a 1-year high of $28.25. The business’s 50 day simple moving average is $25.50 and its 200 day simple moving average is $23.47.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. First Financial Bancorp. had a return on equity of 10.69% and a net margin of 19.67%. The firm had revenue of $314.22 million for the quarter, compared to analyst estimates of $203.50 million. During the same period in the prior year, the firm posted $0.72 EPS. As a group, research analysts anticipate that First Financial Bancorp. will post 2.58 EPS for the current year.

First Financial Bancorp. Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.94%. This is a positive change from First Financial Bancorp.’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, August 30th. First Financial Bancorp.’s dividend payout ratio is currently 38.71%.

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.