Trustcore Financial Services LLC acquired a new position in shares of First Financial Bancorp (NASDAQ:FFBC) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 5,781 shares of the bank’s stock, valued at approximately $139,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in FFBC. Macquarie Group Ltd. lifted its holdings in First Financial Bancorp by 5.8% in the 4th quarter. Macquarie Group Ltd. now owns 4,813,892 shares of the bank’s stock worth $114,193,000 after purchasing an additional 263,353 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in First Financial Bancorp by 3.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,264,657 shares of the bank’s stock worth $96,960,000 after purchasing an additional 110,575 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in First Financial Bancorp by 2.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,429,467 shares of the bank’s stock worth $57,627,000 after purchasing an additional 65,665 shares during the last quarter. Norges Bank acquired a new stake in First Financial Bancorp in the 4th quarter worth approximately $28,757,000. Finally, Geode Capital Management LLC lifted its holdings in First Financial Bancorp by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 1,085,173 shares of the bank’s stock worth $25,740,000 after purchasing an additional 42,890 shares during the last quarter. Hedge funds and other institutional investors own 75.65% of the company’s stock.
Several research analysts have commented on FFBC shares. Zacks Investment Research raised First Financial Bancorp from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, March 26th. BidaskClub raised First Financial Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, May 7th. ValuEngine downgraded First Financial Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, March 6th. Finally, Stephens reaffirmed a “hold” rating and issued a $30.00 price target on shares of First Financial Bancorp in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $28.67.
First Financial Bancorp (NASDAQ:FFBC) last released its quarterly earnings data on Thursday, April 25th. The bank reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $148.34 million for the quarter, compared to analysts’ expectations of $150.53 million. First Financial Bancorp had a return on equity of 10.60% and a net margin of 26.28%. During the same period in the previous year, the business posted $0.49 earnings per share. Sell-side analysts expect that First Financial Bancorp will post 2.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, May 31st. First Financial Bancorp’s dividend payout ratio is presently 38.60%.
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 accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers.
Further Reading: Mutual Funds
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