Nuveen Asset Management LLC Has $17.99 Million Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

Nuveen Asset Management LLC lifted its holdings in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 65.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 669,409 shares of the bank's stock after purchasing an additional 264,083 shares during the period. Nuveen Asset Management LLC owned 0.70% of First Financial Bancorp. worth $17,994,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in shares of First Financial Bancorp. by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 511,868 shares of the bank's stock valued at $13,759,000 after purchasing an additional 20,636 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of First Financial Bancorp. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,892,158 shares of the bank's stock valued at $292,781,000 after purchasing an additional 72,367 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of First Financial Bancorp. by 1.8% in the 4th 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 in the last quarter. KBC Group NV lifted its position in shares of First Financial Bancorp. by 82.8% during the 4th 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 period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in First Financial Bancorp. by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,747 shares of the bank's stock valued at $1,445,000 after buying an additional 2,070 shares in the last quarter. Institutional investors and hedge funds own 77.23% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank of Canada dropped their price objective on First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating for the company in a research note 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.

Insider Transactions at First Financial Bancorp.

In related news, insider James R. Shank sold 7,600 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 $277,633.72. This trade represents a 40.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.13% of the stock is owned by company insiders.

First Financial Bancorp. Price Performance

First Financial Bancorp. stock traded down $0.32 during trading hours on Wednesday, hitting $24.20. 119,473 shares of the stock were exchanged, compared to its average volume of 415,648. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $2.32 billion, a P/E ratio of 10.10 and a beta of 0.94. First Financial Bancorp. has a 12 month low of $20.59 and a 12 month high of $31.18. The business's 50-day moving average is $23.80 and its two-hundred day moving average is $26.30.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last announced its earnings results on Thursday, April 24th. The bank reported $0.63 EPS for the quarter, hitting the consensus estimate of $0.63. The company 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 business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. Equities research analysts expect that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend is Monday, June 2nd. First Financial Bancorp.'s dividend payout ratio is presently 39.83%.

First Financial Bancorp. Company 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.