Deutsche Bank AG Raises Stock Holdings in First Financial Bancorp. (NASDAQ:FFBC)

Deutsche Bank AG grew its stake in shares of First Financial Bancorp. (NASDAQ:FFBC) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,999 shares of the bank’s stock after buying an additional 10,001 shares during the period. Deutsche Bank AG owned 0.09% of First Financial Bancorp. worth $2,204,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FFBC. Raymond James Financial Inc. bought a new stake in First Financial Bancorp. during the 4th quarter worth approximately $8,961,000. First Trust Advisors LP increased its stake in shares of First Financial Bancorp. by 38.3% in the fourth quarter. First Trust Advisors LP now owns 1,186,286 shares of the bank’s stock worth $31,887,000 after purchasing an additional 328,788 shares in the last quarter. Norges Bank purchased a new stake in shares of First Financial Bancorp. in the fourth quarter worth $7,827,000. Hsbc Holdings PLC raised its position in shares of First Financial Bancorp. by 713.5% during the 4th quarter. Hsbc Holdings PLC now owns 265,843 shares of the bank’s stock valued at $7,149,000 after purchasing an additional 233,163 shares during the period. Finally, Invesco Ltd. raised its position in shares of First Financial Bancorp. by 98.0% during the 4th quarter. Invesco Ltd. now owns 447,824 shares of the bank’s stock valued at $12,038,000 after purchasing an additional 221,683 shares during the period. 77.23% of the stock is owned by hedge funds and other institutional investors.

First Financial Bancorp. Trading Down 0.5%

FFBC stock opened at $24.11 on Friday. The firm has a fifty day moving average price of $23.85 and a 200 day moving average price of $26.39. First Financial Bancorp. has a fifty-two week low of $20.59 and a fifty-two week high of $31.18. The firm has a market cap of $2.31 billion, a PE ratio of 10.05 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90.

First Financial Bancorp. (NASDAQ:FFBC) last announced its earnings results on Thursday, April 24th. The bank reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. The firm had revenue of $201.59 million for the quarter, compared to analysts’ expectations of $214.80 million. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. Sell-side analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.96 annualized dividend and a yield of 3.98%. First Financial Bancorp.’s payout ratio is presently 39.83%.

Insider Buying and Selling

In related news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total transaction of $189,392.00. Following the completion of the transaction, the insider now directly owns 11,141 shares of the company’s stock, valued at approximately $277,633.72. The trade was a 40.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FFBC has been the subject of several recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $33.00 target price on shares of First Financial Bancorp. in a report on Friday, January 24th. Royal Bank of Canada lowered their price objective on First Financial Bancorp. from $30.00 to $27.00 and set a “sector perform” rating on the stock in a research report on Monday, April 28th. Keefe, Bruyette & Woods cut their target price on First Financial Bancorp. from $31.00 to $30.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. Finally, Truist Financial initiated coverage on First Financial Bancorp. in a research note on Tuesday, May 13th. They set a “hold” rating and a $27.00 target price on the stock.

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.