Ameriprise Financial Inc. Has $6.76 Million Stake in First Financial Bancorp. (NASDAQ:FFBC)

Ameriprise Financial Inc. trimmed its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,464 shares of the bank's stock after selling 17,333 shares during the quarter. Ameriprise Financial Inc. owned about 0.26% of First Financial Bancorp. worth $6,759,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in First Financial Bancorp. by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 511,868 shares of the bank's stock worth $13,759,000 after buying an additional 20,636 shares during the last quarter. Vanguard Group Inc. increased its position in First Financial Bancorp. by 0.7% during 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 last quarter. Charles Schwab Investment Management Inc. increased its position in First Financial Bancorp. by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,304,922 shares of the bank's stock worth $35,076,000 after buying an additional 22,573 shares during the last quarter. KBC Group NV increased its position in First Financial Bancorp. by 82.8% during the fourth quarter. KBC Group NV now owns 5,150 shares of the bank's stock worth $138,000 after buying an additional 2,333 shares during the last quarter. Finally, Inceptionr LLC acquired a new position in First Financial Bancorp. during the fourth quarter worth $432,000. 77.23% of the stock is owned by institutional investors and hedge funds.

First Financial Bancorp. Price Performance

Shares of FFBC stock opened at $24.11 on Friday. The stock has a 50 day moving average of $23.85 and a two-hundred day moving average of $26.39. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. First Financial Bancorp. has a 12 month low of $20.59 and a 12 month high of $31.18. The company has a market capitalization of $2.31 billion, a P/E ratio of 10.05 and a beta of 0.94.

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

First Financial Bancorp. Dividend Announcement

The company 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 is Monday, June 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.98%. First Financial Bancorp.'s dividend payout ratio is currently 39.83%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased 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 report on Monday, April 28th. Truist Financial assumed coverage on shares of First Financial Bancorp. in a report on Tuesday, May 13th. They set a "hold" rating and a $27.00 price target for the company. Stephens restated an "overweight" rating and set a $33.00 price target on shares of First Financial Bancorp. in a report on Friday, January 24th. Finally, Royal Bank of Canada decreased 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 report on Monday, April 28th.

Insiders Place Their Bets

In other First Financial Bancorp. news, insider James R. Shank sold 7,600 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was 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. This trade represents a 40.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.04% of the company's stock.

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.

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