Ameriprise Financial Inc. Cuts Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

Ameriprise Financial Inc. reduced its holdings in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 6.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 251,464 shares of the bank's stock after selling 17,333 shares during the period. Ameriprise Financial Inc. owned approximately 0.26% of First Financial Bancorp. worth $6,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FFBC. Barclays PLC grew its stake in shares of First Financial Bancorp. by 140.1% in the 3rd quarter. Barclays PLC now owns 190,742 shares of the bank's stock worth $4,812,000 after buying an additional 111,309 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of First Financial Bancorp. by 11.3% in the 4th quarter. Blue Trust Inc. now owns 9,340 shares of the bank's stock worth $236,000 after acquiring an additional 945 shares during the last quarter. KBC Group NV lifted its holdings in shares of First Financial Bancorp. by 82.8% in the 4th quarter. KBC Group NV now owns 5,150 shares of the bank's stock worth $138,000 after acquiring an additional 2,333 shares during the last quarter. Kavar Capital Partners Group LLC bought a new stake in shares of First Financial Bancorp. in the 4th quarter worth about $208,000. Finally, Empowered Funds LLC lifted its holdings in shares of First Financial Bancorp. by 5.1% in the 4th quarter. Empowered Funds LLC now owns 308,749 shares of the bank's stock worth $8,299,000 after acquiring an additional 15,037 shares during the last quarter. 77.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 completion of the sale, the insider now owns 11,141 shares in the company, valued at approximately $277,633.72. The trade was a 40.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.13% of the company's stock.

First Financial Bancorp. Trading Down 0.7%

FFBC traded down $0.16 on Wednesday, reaching $24.36. 14,402 shares of the company traded hands, compared to its average volume of 414,608. First Financial Bancorp. has a one year low of $20.59 and a one year high of $31.18. The firm has a fifty day simple moving average of $23.80 and a two-hundred day simple moving average of $26.30. The company has a market cap of $2.33 billion, a P/E ratio of 10.15 and a beta of 0.94. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40.

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

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.24 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.96 annualized dividend and a dividend yield of 3.94%. First Financial Bancorp.'s dividend payout ratio is currently 39.83%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FFBC shares. Keefe, Bruyette & Woods lowered their target price on shares of First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Truist Financial started coverage on shares of First Financial Bancorp. in a report on Tuesday, May 13th. They issued a "hold" rating and a $27.00 target price for the company. Finally, Royal Bank of Canada lowered their target price on shares of First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating for the company in a report on Monday, April 28th.

First Financial Bancorp. Company 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.