First Financial Bancorp. (NASDAQ:FFBC) Shares Sold by Comerica Bank

Comerica Bank cut its stake in First Financial Bancorp. (NASDAQ:FFBCGet Rating) by 9.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 72,441 shares of the bank’s stock after selling 7,970 shares during the period. Comerica Bank’s holdings in First Financial Bancorp. were worth $1,766,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FFBC. Maryland State Retirement & Pension System boosted its holdings in shares of First Financial Bancorp. by 1.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 38,506 shares of the bank’s stock valued at $747,000 after purchasing an additional 585 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in First Financial Bancorp. by 7.5% in the second quarter. Meeder Asset Management Inc. now owns 8,810 shares of the bank’s stock valued at $171,000 after acquiring an additional 616 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of First Financial Bancorp. by 1.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 51,722 shares of the bank’s stock valued at $1,003,000 after purchasing an additional 658 shares in the last quarter. Inspire Investing LLC lifted its position in First Financial Bancorp. by 6.5% during the second quarter. Inspire Investing LLC now owns 10,868 shares of the bank’s stock valued at $211,000 after buying an additional 666 shares in the last quarter. Finally, Truist Financial Corp lifted its position in First Financial Bancorp. by 5.5% during the third quarter. Truist Financial Corp now owns 13,333 shares of the bank’s stock valued at $281,000 after buying an additional 700 shares in the last quarter. 73.35% of the stock is owned by institutional investors and hedge funds.

First Financial Bancorp. Stock Performance

First Financial Bancorp. stock opened at $23.56 on Friday. The stock’s 50 day moving average price is $24.86 and its 200 day moving average price is $23.30. The firm has a market capitalization of $2.23 billion, a PE ratio of 11.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.86 and a current ratio of 0.86. First Financial Bancorp. has a one year low of $18.75 and a one year high of $26.72.

First Financial Bancorp. (NASDAQ:FFBCGet Rating) last posted its earnings results on Thursday, October 20th. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. First Financial Bancorp. had a net margin of 28.24% and a return on equity of 9.77%. The business had revenue of $180.43 million for the quarter, compared to analysts’ expectations of $179.88 million. During the same period in the previous year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, sell-side analysts expect that First Financial Bancorp. will post 2.29 EPS for the current fiscal year.

First Financial Bancorp. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.90%. First Financial Bancorp.’s dividend payout ratio is currently 44.23%.

Insiders Place Their Bets

In other First Financial Bancorp. news, insider Richard S. Dennen sold 20,246 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $26.20, for a total value of $530,445.20. Following the transaction, the insider now owns 93,310 shares in the company, valued at approximately $2,444,722. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FFBC. Royal Bank of Canada lifted their price target on shares of First Financial Bancorp. from $24.00 to $25.00 and gave the company a “sector perform” rating in a research report on Monday, October 24th. StockNews.com started coverage on shares of First Financial Bancorp. in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

First Financial Bancorp. Company Profile

(Get Rating)

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 accepts various deposit products, such as interest-bearing and noninterest-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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