First Financial Bancorp. (NASDAQ:FFBC) Shares Sold by 9258 Wealth Management LLC

9258 Wealth Management LLC decreased its holdings in First Financial Bancorp. (NASDAQ:FFBC) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,360 shares of the bank’s stock after selling 2,000 shares during the period. 9258 Wealth Management LLC’s holdings in First Financial Bancorp. were worth $1,030,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Nordea Investment Management AB increased its holdings in shares of First Financial Bancorp. by 23.9% in the first quarter. Nordea Investment Management AB now owns 305,942 shares of the bank’s stock valued at $6,917,000 after purchasing an additional 58,963 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of First Financial Bancorp. by 115.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 58,070 shares of the bank’s stock worth $1,264,000 after acquiring an additional 31,170 shares during the last quarter. First Financial Bank Trust Division raised its holdings in shares of First Financial Bancorp. by 17.8% during the 1st quarter. First Financial Bank Trust Division now owns 1,038,758 shares of the bank’s stock worth $23,289,000 after acquiring an additional 157,190 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of First Financial Bancorp. during the 1st quarter valued at about $752,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of First Financial Bancorp. by 76.6% in the first quarter. BNP Paribas Financial Markets now owns 46,793 shares of the bank’s stock valued at $1,049,000 after purchasing an additional 20,299 shares during the period. 77.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FFBC shares. Keefe, Bruyette & Woods lifted their target price on shares of First Financial Bancorp. from $25.00 to $27.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price target on shares of First Financial Bancorp. from $25.00 to $29.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th.

Insider Activity

In related news, insider Claude E. Davis sold 29,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $26.60, for a total transaction of $771,400.00. Following the transaction, the insider now owns 53,576 shares of the company’s stock, valued at approximately $1,425,121.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.04% of the company’s stock.

First Financial Bancorp. Trading Down 1.5 %

FFBC traded down $0.40 on Thursday, hitting $25.57. The company had a trading volume of 42,525 shares, compared to its average volume of 356,690. 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 cap of $2.44 billion, a P/E ratio of 10.47 and a beta of 1.00. The company’s fifty day moving average price is $24.91 and its 200 day moving average price is $23.02. First Financial Bancorp. has a 1 year low of $17.23 and a 1 year high of $28.25.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. First Financial Bancorp. had a net margin of 19.67% and a return on equity of 10.69%. 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 business posted $0.72 EPS. As a group, equities analysts expect that First Financial Bancorp. will post 2.58 earnings per share for the current year.

First Financial Bancorp. Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be given a dividend of $0.24 per share. This is a positive change from First Financial Bancorp.’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, August 30th. First Financial Bancorp.’s dividend payout ratio (DPR) 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.