LSV Asset Management Sells 4,100 Shares of First Financial Bancorp. (NASDAQ:FFBC)

LSV Asset Management lowered its stake in shares of First Financial Bancorp. (NASDAQ:FFBC) by 2.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 154,833 shares of the bank’s stock after selling 4,100 shares during the period. LSV Asset Management owned approximately 0.16% of First Financial Bancorp. worth $3,677,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of FFBC. Denali Advisors LLC boosted its stake in shares of First Financial Bancorp. by 64.7% in the 4th quarter. Denali Advisors LLC now owns 156,000 shares of the bank’s stock valued at $3,705,000 after purchasing an additional 61,300 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of First Financial Bancorp. during the third quarter worth approximately $1,086,000. Charles Schwab Investment Management Inc. raised its stake in shares of First Financial Bancorp. by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,106,449 shares of the bank’s stock valued at $21,686,000 after acquiring an additional 48,501 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in First Financial Bancorp. during the 4th quarter worth approximately $1,130,000. Finally, Bahl & Gaynor Inc. increased its holdings in First Financial Bancorp. by 6.7% during the 3rd quarter. Bahl & Gaynor Inc. now owns 573,241 shares of the bank’s stock valued at $11,236,000 after purchasing an additional 35,764 shares in the last quarter. Institutional investors and hedge funds own 77.23% of the company’s stock.

First Financial Bancorp. Stock Performance

Shares of FFBC opened at $23.33 on Thursday. The stock’s fifty day simple moving average is $21.92 and its 200-day simple moving average is $21.84. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $2.23 billion, a PE ratio of 9.41 and a beta of 1.04. First Financial Bancorp. has a 12-month low of $17.23 and a 12-month high of $24.99.

First Financial Bancorp. (NASDAQ:FFBC) last issued its earnings results on Friday, April 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. First Financial Bancorp. had a net margin of 20.74% and a return on equity of 11.22%. The company had revenue of $287.20 million for the quarter, compared to analyst estimates of $201.79 million. During the same quarter last year, the firm earned $0.76 EPS. As a group, research analysts predict that First Financial Bancorp. will post 2.34 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.23 per share. The ex-dividend date is Monday, June 3rd. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.94%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 37.10%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FFBC. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of First Financial Bancorp. in a report on Tuesday, April 9th. Piper Sandler initiated coverage on shares of First Financial Bancorp. in a research report on Friday, February 23rd. They set an “overweight” rating and a $26.00 target price on the stock.

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.