Millennium Management LLC Purchases 82,025 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Millennium Management LLC lifted its stake in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 16.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 567,572 shares of the bank's stock after purchasing an additional 82,025 shares during the period. Millennium Management LLC owned approximately 0.59% of First Financial Bancorp. worth $15,256,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP acquired a new position in First Financial Bancorp. in the 4th quarter worth about $44,000. Quarry LP grew its holdings in shares of First Financial Bancorp. by 68.9% during the 4th quarter. Quarry LP now owns 2,502 shares of the bank's stock worth $67,000 after purchasing an additional 1,021 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of First Financial Bancorp. by 221.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank's stock worth $73,000 after buying an additional 1,873 shares during the period. Kentucky Trust Co bought a new position in shares of First Financial Bancorp. during the 4th quarter worth approximately $76,000. Finally, Sterling Capital Management LLC increased its holdings in First Financial Bancorp. by 807.3% during 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. 77.23% of the stock is owned by institutional investors and hedge funds.

First Financial Bancorp. Stock Down 1.1%

NASDAQ:FFBC traded down $0.26 during trading hours on Wednesday, hitting $24.26. 21,603 shares of the company traded hands, compared to its average volume of 418,682. The company has a market cap of $2.32 billion, a PE ratio of 10.12 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. The firm's 50-day simple moving average is $23.80 and its 200-day simple moving average is $26.30. First Financial Bancorp. has a one year low of $20.59 and a one year high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $201.59 million during the quarter, compared to analyst estimates of $214.80 million. During the same period last year, the company earned $0.59 earnings per share. The business's revenue for the quarter was up 2.6% on a year-over-year basis. Equities analysts predict that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.24 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 3.96%. First Financial Bancorp.'s payout ratio is 39.83%.

Analyst Ratings Changes

A number of equities research analysts recently commented on FFBC shares. Keefe, Bruyette & Woods decreased 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. Royal Bank of Canada dropped their price objective on First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Monday, April 28th. Finally, Truist Financial started coverage on First Financial Bancorp. in a research note on Tuesday, May 13th. They set a "hold" rating and a $27.00 target price on the stock.

Insider Transactions at First Financial Bancorp.

In related news, insider James R. Shank sold 7,600 shares of the business'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 transaction, the insider now owns 11,141 shares in the company, valued at $277,633.72. The trade was a 40.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.13% of the company's stock.

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.