Cubist Systematic Strategies LLC Sells 109,411 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Cubist Systematic Strategies LLC trimmed its position in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 68.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,428 shares of the bank's stock after selling 109,411 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.05% of First Financial Bancorp. worth $1,329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of First Financial Bancorp. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 10,892,158 shares of the bank's stock worth $292,781,000 after buying an additional 72,367 shares during the period. Northern Trust Corp lifted its position in shares of First Financial Bancorp. by 16.2% in the fourth quarter. Northern Trust Corp now owns 1,362,436 shares of the bank's stock worth $36,622,000 after purchasing an additional 189,715 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of First Financial Bancorp. by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,304,922 shares of the bank's stock worth $35,076,000 after purchasing an additional 22,573 shares in the last quarter. First Trust Advisors LP lifted its position in shares of First Financial Bancorp. by 38.3% in the fourth quarter. First Trust Advisors LP now owns 1,186,286 shares of the bank's stock worth $31,887,000 after purchasing an additional 328,788 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of First Financial Bancorp. by 17.6% in the fourth quarter. Fisher Asset Management LLC now owns 849,678 shares of the bank's stock worth $22,839,000 after purchasing an additional 126,996 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. stock in a transaction that occurred on 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 owns 11,141 shares of the company's stock, valued at $277,633.72. This trade represents a 40.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.04% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stephens reissued an "overweight" rating and issued a $33.00 price target on shares of First Financial Bancorp. in a research report on Friday, January 24th. Royal Bank of Canada reduced their price target on shares of First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating for the company in a research report on Monday, April 28th. Truist Financial assumed coverage on shares of First Financial Bancorp. in a research report on Tuesday. They issued a "hold" rating and a $27.00 price target for the company. Finally, Keefe, Bruyette & Woods reduced their price target on shares of First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating for the company in a research report on Monday, April 28th.

First Financial Bancorp. Stock Up 0.2%

FFBC traded up $0.04 during midday trading on Friday, hitting $25.10. 332,587 shares of the company's stock traded hands, compared to its average volume of 420,714. The company has a market cap of $2.39 billion, a PE ratio of 10.46 and a beta of 0.94. The stock's fifty day simple moving average is $23.85 and its 200-day simple moving average is $26.42. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.90 and a quick ratio of 0.90. First Financial Bancorp. has a one year low of $20.59 and a one year high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. The firm had revenue of $201.59 million for the quarter, compared to analyst estimates of $214.80 million. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. The company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. As a group, equities analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Monday, June 2nd. First Financial Bancorp.'s payout ratio is presently 39.83%.

About First Financial Bancorp.

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.