Goldman Sachs Group Inc. reduced its position in shares of First Financial Bancorp. (NASDAQ:FFBC) by 24.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 283,449 shares of the bank’s stock after selling 94,070 shares during the period. Goldman Sachs Group Inc. owned approximately 0.46% of First Financial Bancorp. worth $7,780,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in First Financial Bancorp. during the fourth quarter worth $1,193,000. Renaissance Technologies LLC increased its position in First Financial Bancorp. by 5.4% in the fourth quarter. Renaissance Technologies LLC now owns 347,800 shares of the bank’s stock worth $9,895,000 after buying an additional 17,800 shares in the last quarter. Guggenheim Capital LLC purchased a new position in First Financial Bancorp. during the fourth quarter worth $667,000. Norges Bank purchased a new position in First Financial Bancorp. during the fourth quarter worth $17,149,000. Finally, Teachers Advisors LLC increased its position in First Financial Bancorp. by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 101,896 shares of the bank’s stock worth $2,899,000 after buying an additional 2,465 shares in the last quarter. 74.31% of the stock is currently owned by institutional investors.
Shares of First Financial Bancorp. (NASDAQ:FFBC) traded down 1.98% during mid-day trading on Tuesday, reaching $24.75. The company’s stock had a trading volume of 207,710 shares. First Financial Bancorp. has a 12-month low of $20.55 and a 12-month high of $29.80. The firm has a market cap of $1.54 billion, a P/E ratio of 16.39 and a beta of 1.18. The firm’s 50-day moving average price is $26.88 and its 200 day moving average price is $27.14.
First Financial Bancorp. (NASDAQ:FFBC) last issued its quarterly earnings data on Tuesday, July 25th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $85.97 million during the quarter, compared to analyst estimates of $89.52 million. First Financial Bancorp. had a net margin of 24.28% and a return on equity of 10.65%. During the same period last year, the firm earned $0.36 EPS. On average, analysts expect that First Financial Bancorp. will post $1.52 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.75%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 45.03%.
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FFBC has been the topic of a number of recent research reports. Zacks Investment Research downgraded First Financial Bancorp. from a “buy” rating to a “hold” rating in a report on Monday, May 15th. ValuEngine raised First Financial Bancorp. from a “hold” rating to a “buy” rating in a report on Wednesday, May 31st. BidaskClub raised First Financial Bancorp. from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $29.00 target price on shares of First Financial Bancorp. in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $28.63.
In other news, insider C Douglas Lefferson sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $25.69, for a total value of $1,027,600.00. Following the completion of the transaction, the insider now owns 74,170 shares of the company’s stock, valued at approximately $1,905,427.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.88% of the company’s stock.
First Financial Bancorp. Company Profile
First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.
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