First Financial Bancorp. (NASDAQ:FFBC) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of First Financial Bancorp. (NASDAQ:FFBC – Get Rating) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 604,989 shares of the bank’s stock after purchasing an additional 2,206 shares during the period. Principal Financial Group Inc.’s holdings in First Financial Bancorp. were worth $14,659,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisor Group Holdings Inc. boosted its holdings in First Financial Bancorp. by 27.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 5,273 shares of the bank’s stock valued at $121,000 after purchasing an additional 1,134 shares in the last quarter. Raymond James & Associates raised its holdings in First Financial Bancorp. by 8.7% in the 1st quarter. Raymond James & Associates now owns 20,805 shares of the bank’s stock valued at $480,000 after acquiring an additional 1,671 shares during the last quarter. American Century Companies Inc. raised its holdings in First Financial Bancorp. by 20.2% in the 1st quarter. American Century Companies Inc. now owns 22,647 shares of the bank’s stock valued at $522,000 after acquiring an additional 3,813 shares during the last quarter. Citigroup Inc. raised its holdings in First Financial Bancorp. by 7.0% in the 1st quarter. Citigroup Inc. now owns 88,836 shares of the bank’s stock valued at $2,047,000 after acquiring an additional 5,812 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in First Financial Bancorp. by 51.8% in the 1st quarter. MetLife Investment Management LLC now owns 49,950 shares of the bank’s stock valued at $1,151,000 after acquiring an additional 17,054 shares during the last quarter. Institutional investors and hedge funds own 73.35% of the company’s stock.

First Financial Bancorp. Price Performance

FFBC opened at $19.86 on Thursday. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 7.61 and a beta of 1.06. First Financial Bancorp. has a fifty-two week low of $17.99 and a fifty-two week high of $26.72. The company’s 50-day moving average price is $20.51 and its 200 day moving average price is $23.27. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.68.

First Financial Bancorp. (NASDAQ:FFBC – Get Rating) last released its quarterly earnings data on Friday, April 21st. The bank reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.06. The firm had revenue of $264.12 million for the quarter, compared to analyst estimates of $202.70 million. First Financial Bancorp. had a net margin of 27.92% and a return on equity of 12.18%. First Financial Bancorp.’s quarterly revenue was up 70.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 earnings per share. As a group, sell-side analysts expect that First Financial Bancorp. will post 2.71 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Wednesday, May 31st. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 35.25%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods cut their price target on First Financial Bancorp. from $26.00 to $23.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. Stephens reaffirmed an “equal weight” rating and set a $24.00 price target on shares of First Financial Bancorp. in a research report on Friday, April 21st. Finally, StockNews.com assumed coverage on shares of First Financial Bancorp. in a research report on Thursday, May 18th. They set a “hold” rating for the company.

First Financial Bancorp. Company Profile

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First Financial Bancorp operates as a bank holding company. The firm operates through its wholly owned subsidiary, First Financial Bank, which engages in the provision of commercial banking, financial and other related activities. It operates through the following business lines: Commercial, Retail Banking, Mortgage Banking, Wealth Management, Investment Commercial Real Estate, and Commercial Finance.