UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 73,727 Shares of First Financial Bancorp. (NASDAQ:FFBC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 32.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 300,387 shares of the bank's stock after buying an additional 73,727 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.31% of First Financial Bancorp. worth $8,074,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new position in shares of First Financial Bancorp. in the fourth quarter valued at approximately $44,000. Quarry LP boosted its stake in shares of First Financial Bancorp. by 68.9% during the fourth quarter. Quarry LP now owns 2,502 shares of the bank's stock valued at $67,000 after acquiring an additional 1,021 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of First Financial Bancorp. by 221.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank's stock valued at $73,000 after acquiring an additional 1,873 shares during the last quarter. Kentucky Trust Co acquired a new stake in First Financial Bancorp. in the 4th quarter worth about $76,000. Finally, Sterling Capital Management LLC lifted its stake in shares of First Financial Bancorp. by 807.3% in the 4th quarter. Sterling Capital Management LLC now owns 2,976 shares of the bank's stock valued at $80,000 after purchasing an additional 2,648 shares in the last quarter. Hedge funds and other institutional investors own 77.23% of the company's stock.

Insider Transactions at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total transaction 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 represents a 40.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 9,267 shares of company stock worth $228,972. 1.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Truist Financial assumed coverage on First Financial Bancorp. in a report on Tuesday, May 13th. They set a "hold" rating and a $27.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on 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. Finally, Royal Bank of Canada cut their price objective on 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. Stock Down 1.8%

FFBC stock traded down $0.42 during mid-day trading on Wednesday, hitting $23.46. The stock had a trading volume of 246,025 shares, compared to its average volume of 419,643. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 9.78 and a beta of 0.94. The company has a fifty day moving average of $23.66 and a 200 day moving average of $26.10. First Financial Bancorp. has a 1-year low of $20.59 and a 1-year high of $31.18. 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. (NASDAQ:FFBC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $0.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.63. The company had revenue of $201.59 million during 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%. The firm's revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 EPS. On average, equities analysts expect that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.96 annualized dividend and a dividend yield of 4.09%. First Financial Bancorp.'s dividend payout ratio (DPR) is presently 39.83%.

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.