Natixis Advisors LLC Grows Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

Natixis Advisors LLC lifted its stake in First Financial Bancorp. (NASDAQ:FFBC) by 52.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 44,045 shares of the bank’s stock after acquiring an additional 15,183 shares during the quarter. Natixis Advisors LLC’s holdings in First Financial Bancorp. were worth $1,184,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FFBC. State Street Corp boosted its position in First Financial Bancorp. by 0.9% in the 3rd quarter. State Street Corp now owns 4,643,440 shares of the bank’s stock worth $117,154,000 after purchasing an additional 39,655 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of First Financial Bancorp. by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,271,990 shares of the bank’s stock valued at $57,333,000 after purchasing an additional 34,977 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in First Financial Bancorp. by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,304,922 shares of the bank’s stock worth $35,076,000 after buying an additional 22,573 shares in the last quarter. Fisher Asset Management LLC grew its position in First Financial Bancorp. by 17.6% during the fourth quarter. Fisher Asset Management LLC now owns 849,678 shares of the bank’s stock valued at $22,839,000 after buying an additional 126,996 shares during the period. Finally, Principal Financial Group Inc. grew its position in First Financial Bancorp. by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 511,868 shares of the bank’s stock valued at $13,759,000 after buying an additional 20,636 shares during the period. 77.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FFBC has been the subject of a number of analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $30.00 price objective on shares of First Financial Bancorp. in a research report on Monday, January 27th. Keefe, Bruyette & Woods increased their price target on First Financial Bancorp. from $31.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Finally, Stephens restated an “overweight” rating and issued a $33.00 price objective on shares of First Financial Bancorp. in a research report on Friday, January 24th.

Insider Activity at First Financial Bancorp.

In related news, insider James R. Shank sold 7,600 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total transaction of $189,392.00. Following the transaction, the insider now directly owns 11,141 shares in the company, valued at approximately $277,633.72. The trade was a 40.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.04% of the stock is owned by corporate insiders.

First Financial Bancorp. Stock Performance

FFBC opened at $25.36 on Wednesday. The firm’s fifty day simple moving average is $26.93 and its two-hundred day simple moving average is $26.88. First Financial Bancorp. has a 52-week low of $20.59 and a 52-week high of $31.18. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 10.57 and a beta of 0.99. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40.

First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. Equities analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Monday, March 3rd. First Financial Bancorp.’s dividend payout ratio is presently 40.00%.

First Financial Bancorp. Company 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.