Renaissance Technologies LLC cut its position in shares of First Financial Bancorp. (NASDAQ:FFBC) by 9.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 315,800 shares of the bank’s stock after selling 32,000 shares during the period. Renaissance Technologies LLC owned 0.51% of First Financial Bancorp. worth $8,669,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of First Financial Bancorp. by 6.1% in the first quarter. Vanguard Group Inc. now owns 5,671,527 shares of the bank’s stock worth $155,684,000 after buying an additional 324,078 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of First Financial Bancorp. by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,068,454 shares of the bank’s stock worth $84,230,000 after buying an additional 42,092 shares during the period. JPMorgan Chase & Co. boosted its position in shares of First Financial Bancorp. by 1.7% in the first quarter. JPMorgan Chase & Co. now owns 2,509,117 shares of the bank’s stock valued at $68,875,000 after buying an additional 41,529 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of First Financial Bancorp. by 27.8% in the first quarter. Bank of New York Mellon Corp now owns 1,219,079 shares of the bank’s stock valued at $33,463,000 after buying an additional 265,477 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC boosted its position in shares of First Financial Bancorp. by 2.6% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 956,655 shares of the bank’s stock valued at $26,260,000 after buying an additional 24,550 shares during the last quarter. 74.31% of the stock is owned by hedge funds and other institutional investors.
Shares of First Financial Bancorp. (NASDAQ FFBC) traded down 0.83% during mid-day trading on Friday, reaching $23.85. The company had a trading volume of 254,990 shares. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 15.79 and a beta of 1.18. The company has a 50 day moving average price of $26.67 and a 200 day moving average price of $27.07. First Financial Bancorp. has a one year low of $20.55 and a one year high of $29.80.
First Financial Bancorp. (NASDAQ:FFBC) last issued its earnings results on Tuesday, July 25th. The bank reported $0.37 EPS for the quarter, missing the consensus estimate of $0.38 by $0.01. First Financial Bancorp. had a net margin of 24.28% and a return on equity of 10.65%. The business had revenue of $85.97 million for the quarter, compared to analysts’ expectations of $89.52 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. On average, analysts anticipate that First Financial Bancorp. will post $1.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.68 annualized dividend and a yield of 2.85%. First Financial Bancorp.’s dividend payout ratio is 45.03%.
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Several brokerages recently issued reports on FFBC. Royal Bank Of Canada reaffirmed a “hold” rating and set a $29.00 target price on shares of First Financial Bancorp. in a research report on Friday, July 7th. Stephens raised First Financial Bancorp. from an “equal weight” rating to an “overweight” rating and set a $31.00 target price on the stock in a research report on Wednesday, July 26th. Zacks Investment Research cut First Financial Bancorp. from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, BidaskClub raised First Financial Bancorp. from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.63.
In other First Financial Bancorp. news, insider C Douglas Lefferson sold 40,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $25.69, for a total transaction of $1,027,600.00. Following the sale, the insider now directly owns 74,170 shares in the company, valued at approximately $1,905,427.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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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