Bridgeway Capital Management LLC Purchases 20,701 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Bridgeway Capital Management LLC lifted its stake in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 677,283 shares of the bank's stock after buying an additional 20,701 shares during the quarter. Bridgeway Capital Management LLC owned about 0.71% of First Financial Bancorp. worth $18,205,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of FFBC. ORG Partners LLC acquired a new stake in First Financial Bancorp. in the fourth quarter worth $35,000. Allworth Financial LP acquired a new stake in shares of First Financial Bancorp. in the 4th quarter valued at about $44,000. Quarry LP increased its position in First Financial Bancorp. by 68.9% in the 4th quarter. Quarry LP now owns 2,502 shares of the bank's stock valued at $67,000 after buying an additional 1,021 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in First Financial Bancorp. by 221.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank's stock worth $73,000 after buying an additional 1,873 shares during the period. Finally, Kentucky Trust Co bought a new position in First Financial Bancorp. in the fourth quarter worth approximately $76,000. Institutional investors own 77.23% of the company's stock.

Insiders Place Their Bets

In other First Financial Bancorp. news, insider James R. Shank sold 7,600 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total value of $189,392.00. Following the transaction, the insider now directly owns 11,141 shares in the company, valued at $277,633.72. The trade was a 40.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.04% of the company's stock.

First Financial Bancorp. Stock Down 0.8 %

First Financial Bancorp. stock traded down $0.19 during trading on Friday, hitting $24.07. 184,279 shares of the company were exchanged, compared to its average volume of 420,749. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The business's 50 day moving average is $23.86 and its 200 day moving average is $26.43. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18. The company has a market capitalization of $2.29 billion, a P/E ratio of 10.03 and a beta of 0.94.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. The company had revenue of $201.59 million during the quarter, compared to the consensus estimate of $214.80 million. During the same quarter in the prior year, the company posted $0.59 earnings per share. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. Analysts predict that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.96 annualized dividend and a yield of 3.99%. First Financial Bancorp.'s dividend payout ratio is currently 39.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FFBC shares. Keefe, Bruyette & Woods lowered their target price on First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Royal Bank of Canada dropped their price objective on shares of First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Monday, April 28th. Finally, Stephens reissued an "overweight" rating and set a $33.00 target price on shares of First Financial Bancorp. in a research report on Friday, January 24th.

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 offers checking, savings, and money-market accounts; and accepts various deposit products, such as interest-bearing and non-interest-bearing accounts, time deposits, and cash management services for commercial customers.