GAMMA Investing LLC Has $950,000 Holdings in First Financial Bancorp. (NASDAQ:FFBC)

GAMMA Investing LLC grew its position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 3,493.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,020 shares of the bank's stock after buying an additional 36,962 shares during the quarter. GAMMA Investing LLC's holdings in First Financial Bancorp. were worth $950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in shares of First Financial Bancorp. by 3.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,269 shares of the bank's stock valued at $330,000 after buying an additional 453 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of First Financial Bancorp. by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,879 shares of the bank's stock valued at $266,000 after acquiring an additional 627 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of First Financial Bancorp. by 7.6% in the 4th quarter. Russell Investments Group Ltd. now owns 11,585 shares of the bank's stock valued at $311,000 after acquiring an additional 822 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of First Financial Bancorp. by 0.9% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 109,583 shares of the bank's stock valued at $2,943,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Quarry LP raised its stake in shares of First Financial Bancorp. by 68.9% in the 4th quarter. Quarry LP now owns 2,502 shares of the bank's stock valued at $67,000 after acquiring an additional 1,021 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bancorp. Trading Down 0.8%

NASDAQ FFBC opened at $23.17 on Tuesday. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 9.65 and a beta of 0.97. First Financial Bancorp. has a 52 week low of $20.69 and a 52 week high of $31.18. The stock's 50 day moving average price is $23.74 and its two-hundred day moving average price is $25.73. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90.

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

First Financial Bancorp. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.96 annualized dividend and a yield of 4.14%. First Financial Bancorp.'s dividend payout ratio is presently 39.83%.

Insider Buying and Selling at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $277,633.72. This represents a 40.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 9,267 shares of company stock worth $228,972. 1.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank of Canada dropped their price target on First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating on the stock in a research report on Monday, April 28th. Keefe, Bruyette & Woods dropped their price objective on First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Finally, Truist Financial initiated coverage on First Financial Bancorp. in a research note on Tuesday, May 13th. They set a "hold" rating and a $27.00 price objective for the company.

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.

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