Eagle Boston Investment Management Inc. lifted its stake in First Financial Bancorp (NASDAQ:FFBC) by 7.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 326,957 shares of the bank’s stock after buying an additional 22,034 shares during the quarter. Eagle Boston Investment Management Inc. owned approximately 0.53% of First Financial Bancorp worth $8,615,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its position in First Financial Bancorp by 5.0% in the third quarter. Prudential Financial Inc. now owns 365,865 shares of the bank’s stock worth $9,568,000 after purchasing an additional 17,280 shares during the last quarter. Macquarie Group Ltd. increased its position in First Financial Bancorp by 8.9% in the third quarter. Macquarie Group Ltd. now owns 2,770,582 shares of the bank’s stock worth $72,451,000 after purchasing an additional 226,144 shares during the last quarter. Royal Bank of Canada increased its position in First Financial Bancorp by 19.4% in the second quarter. Royal Bank of Canada now owns 27,863 shares of the bank’s stock worth $772,000 after purchasing an additional 4,532 shares during the last quarter. American Century Companies Inc. increased its position in First Financial Bancorp by 1.9% in the third quarter. American Century Companies Inc. now owns 267,166 shares of the bank’s stock worth $6,986,000 after purchasing an additional 4,856 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in First Financial Bancorp by 0.8% in the second quarter. Vanguard Group Inc. now owns 5,714,986 shares of the bank’s stock worth $158,306,000 after purchasing an additional 43,459 shares during the last quarter. 77.72% of the stock is currently owned by hedge funds and other institutional investors.
First Financial Bancorp (FFBC) opened at $28.55 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.91 and a current ratio of 0.92. First Financial Bancorp has a 1 year low of $22.80 and a 1 year high of $29.50. The firm has a market cap of $1,759.40, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.35 and a beta of 1.19.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $0.19 dividend. The ex-dividend date is Wednesday, February 28th. This is a boost from First Financial Bancorp’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.66%. First Financial Bancorp’s dividend payout ratio is presently 42.50%.
Several equities research analysts recently weighed in on FFBC shares. Barclays boosted their price target on shares of First Financial Bancorp from $25.00 to $27.00 and gave the stock an “underweight” rating in a research report on Monday, October 23rd. BidaskClub upgraded shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. Zacks Investment Research upgraded shares of First Financial Bancorp from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, October 24th. FIG Partners upgraded shares of First Financial Bancorp from a “market perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a research report on Friday, February 9th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $28.00 price objective on shares of First Financial Bancorp in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.90.
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First Financial Bancorp 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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