First Financial Bancorp. $FFBC Holdings Raised by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its stake in First Financial Bancorp. by 114.5% in the fourth quarter, bringing its holdings to 84,595 shares worth about $2.12 million.
• Several other institutional investors also added to FFBC, and overall institutional ownership stands at 77.23%. Meanwhile, insiders have been selling shares, including CFO James M. Anderson and insider Claude E. Davis.
• Analysts remain broadly positive on the stock, with a consensus Moderate Buy rating and a target price of $33.00. FFBC was trading around $31.15 and recently announced a quarterly dividend of $0.25 per share, or $1.00 annually, for a 3.2% yield.

AlphaQuest LLC boosted its holdings in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 114.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 84,595 shares of the bank's stock after acquiring an additional 45,149 shares during the quarter. AlphaQuest LLC owned about 0.09% of First Financial Bancorp. worth $2,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in First Financial Bancorp. by 55.0% during the 1st quarter. AQR Capital Management LLC now owns 97,727 shares of the bank's stock valued at $2,441,000 after acquiring an additional 34,676 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Financial Bancorp. by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,205 shares of the bank's stock worth $1,404,000 after buying an additional 2,458 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of First Financial Bancorp. by 3.9% during the first quarter. Millennium Management LLC now owns 589,799 shares of the bank's stock worth $14,733,000 after buying an additional 22,227 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of First Financial Bancorp. by 571.4% during the first quarter. Jones Financial Companies Lllp now owns 7,412 shares of the bank's stock worth $185,000 after buying an additional 6,308 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of First Financial Bancorp. by 6.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 318,298 shares of the bank's stock valued at $7,951,000 after purchasing an additional 17,911 shares during the period. 77.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Claude E. Davis sold 26,123 shares of First Financial Bancorp. stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $30.45, for a total value of $795,445.35. Following the sale, the insider owned 30,410 shares of the company's stock, valued at approximately $925,984.50. This trade represents a 46.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James M. Anderson sold 4,263 shares of First Financial Bancorp. stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $30.00, for a total value of $127,890.00. Following the completion of the sale, the chief financial officer directly owned 118,537 shares in the company, valued at approximately $3,556,110. This represents a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 30,706 shares of company stock worth $932,372. 1.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Raymond James Financial reiterated an "outperform" rating and set a $34.00 price objective on shares of First Financial Bancorp. in a research note on Monday, April 27th. Stephens assumed coverage on First Financial Bancorp. in a research note on Friday, March 27th. They set an "overweight" rating and a $33.00 price objective for the company. Keefe, Bruyette & Woods increased their price objective on First Financial Bancorp. from $31.00 to $32.00 and gave the stock a "market perform" rating in a research note on Friday, January 30th. Wall Street Zen cut First Financial Bancorp. from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Royal Bank Of Canada increased their target price on First Financial Bancorp. from $30.00 to $32.00 and gave the stock a "sector perform" rating in a report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.00.

First Financial Bancorp. Trading Up 1.4%

NASDAQ FFBC opened at $31.15 on Wednesday. The firm has a market cap of $3.27 billion, a P/E ratio of 11.01 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.84 and a quick ratio of 0.84. The stock's 50-day moving average is $29.15 and its 200-day moving average is $27.63. First Financial Bancorp. has a one year low of $22.93 and a one year high of $31.38.

First Financial Bancorp. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. First Financial Bancorp.'s dividend payout ratio (DPR) is currently 35.34%.

First Financial Bancorp. Profile

First Financial Bancorp NASDAQ: FFBC is a bank holding company headquartered in Cincinnati, Ohio, and the parent of First Financial Bank. The company provides a comprehensive suite of commercial and consumer banking services through a network of more than 100 full-service banking centers and mortgage offices across Ohio, Indiana and Kentucky. Its core mission centers on delivering personalized relationship banking to businesses, individuals and public sector clients.

First Financial Bank's product portfolio includes deposit solutions such as checking, savings and money market accounts, alongside a range of lending offerings that cover commercial and industrial loans, real estate and construction financing, home mortgages and home equity lines of credit.

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