Versant Capital Management Inc Increases Stake in First Financial Bancorp (NASDAQ:FFBC)

Versant Capital Management Inc lifted its stake in shares of First Financial Bancorp (NASDAQ:FFBC) by 109.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,274 shares of the bank’s stock after buying an additional 666 shares during the quarter. Versant Capital Management Inc’s holdings in First Financial Bancorp were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in FFBC. Envestnet Asset Management Inc. lifted its position in First Financial Bancorp by 7.2% during the third quarter. Envestnet Asset Management Inc. now owns 66,563 shares of the bank’s stock valued at $1,629,000 after purchasing an additional 4,472 shares during the period. Meeder Asset Management Inc. bought a new position in First Financial Bancorp in the third quarter worth approximately $383,000. First Financial Bank Trust Division raised its position in First Financial Bancorp by 1.5% in the third quarter. First Financial Bank Trust Division now owns 638,936 shares of the bank’s stock worth $15,638,000 after acquiring an additional 9,239 shares during the period. State of Alaska Department of Revenue raised its position in First Financial Bancorp by 125.6% in the third quarter. State of Alaska Department of Revenue now owns 75,724 shares of the bank’s stock worth $1,853,000 after acquiring an additional 42,153 shares during the period. Finally, Macquarie Group Ltd. raised its position in First Financial Bancorp by 4.8% in the second quarter. Macquarie Group Ltd. now owns 5,266,350 shares of the bank’s stock worth $127,557,000 after acquiring an additional 240,753 shares during the period. Institutional investors own 74.00% of the company’s stock.

Several research firms have weighed in on FFBC. ValuEngine upgraded shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded shares of First Financial Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, BidaskClub upgraded shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. First Financial Bancorp currently has an average rating of “Hold” and a consensus target price of $28.50.

In other news, insider Richard S. Dennen sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $25.61, for a total transaction of $128,050.00. Following the sale, the insider now directly owns 80,641 shares in the company, valued at approximately $2,065,216.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vince Berta acquired 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average price of $22.45 per share, for a total transaction of $33,675.00. The disclosure for this purchase can be found here. Insiders have sold a total of 54,077 shares of company stock worth $1,372,473 over the last 90 days. Insiders own 2.00% of the company’s stock.

FFBC traded down $1.12 during trading on Friday, hitting $23.24. The company’s stock had a trading volume of 819,475 shares, compared to its average volume of 420,822. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.73. First Financial Bancorp has a one year low of $22.07 and a one year high of $28.59. The firm has a market cap of $2.44 billion, a PE ratio of 10.19 and a beta of 1.25. The business’s 50 day simple moving average is $24.15 and its 200-day simple moving average is $24.08.

First Financial Bancorp (NASDAQ:FFBC) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. First Financial Bancorp had a net margin of 27.72% and a return on equity of 10.28%. The business had revenue of $154.68 million for the quarter, compared to the consensus estimate of $150.98 million. During the same period last year, the firm earned $0.58 earnings per share. Equities research analysts expect that First Financial Bancorp will post 2.12 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for First Financial Bancorp (NASDAQ:FFBC)

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