Arizona State Retirement System Cuts Stake in First Financial Bancorp. (NASDAQ:FFBC)

Arizona State Retirement System reduced its stake in shares of First Financial Bancorp. (NASDAQ:FFBC) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,591 shares of the bank’s stock after selling 502 shares during the period. Arizona State Retirement System’s holdings in First Financial Bancorp. were worth $632,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Coppell Advisory Solutions Corp. purchased a new position in shares of First Financial Bancorp. during the 4th quarter worth about $48,000. Ronald Blue Trust Inc. lifted its holdings in shares of First Financial Bancorp. by 191.7% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,427 shares of the bank’s stock worth $50,000 after acquiring an additional 1,595 shares during the period. Coppell Advisory Solutions LLC purchased a new position in shares of First Financial Bancorp. during the 2nd quarter worth about $50,000. Belpointe Asset Management LLC raised its holdings in First Financial Bancorp. by 74.9% in the first quarter. Belpointe Asset Management LLC now owns 2,335 shares of the bank’s stock valued at $51,000 after buying an additional 1,000 shares during the period. Finally, Quarry LP purchased a new position in First Financial Bancorp. in the first quarter valued at approximately $55,000. 77.23% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bancorp. Trading Up 1.0 %

Shares of FFBC opened at $21.06 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.50. First Financial Bancorp. has a 1-year low of $17.23 and a 1-year high of $24.99. The business’s 50-day moving average price is $21.74 and its 200 day moving average price is $21.53. The stock has a market capitalization of $2.00 billion, a P/E ratio of 7.83 and a beta of 1.05.

First Financial Bancorp. (NASDAQ:FFBC) last posted its earnings results on Thursday, January 25th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. First Financial Bancorp. had a return on equity of 12.16% and a net margin of 22.94%. The firm had revenue of $202.43 million during the quarter, compared to analyst estimates of $207.95 million. Analysts expect that First Financial Bancorp. will post 2.3 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.23 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.37%. First Financial Bancorp.’s payout ratio is 34.20%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FFBC shares. Piper Sandler started coverage on shares of First Financial Bancorp. in a report on Friday, February 23rd. They issued an “overweight” rating and a $26.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price target on shares of First Financial Bancorp. in a report on Tuesday, April 9th.

About First Financial Bancorp.

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.