PharVision Advisers LLC Makes New Investment in First Financial Bancorp. (NASDAQ:FFBC)

PharVision Advisers LLC purchased a new stake in First Financial Bancorp. (NASDAQ:FFBC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,407 shares of the bank's stock, valued at approximately $280,000.

A number of other institutional investors and hedge funds have also modified their holdings of FFBC. Barclays PLC grew its stake in First Financial Bancorp. by 140.1% in the 3rd quarter. Barclays PLC now owns 190,742 shares of the bank's stock valued at $4,812,000 after buying an additional 111,309 shares during the last quarter. Blue Trust Inc. boosted its holdings in First Financial Bancorp. by 11.3% during the fourth quarter. Blue Trust Inc. now owns 9,340 shares of the bank's stock valued at $236,000 after acquiring an additional 945 shares during the period. KBC Group NV grew its position in shares of First Financial Bancorp. by 82.8% in the fourth quarter. KBC Group NV now owns 5,150 shares of the bank's stock valued at $138,000 after purchasing an additional 2,333 shares during the last quarter. Kavar Capital Partners Group LLC bought a new position in shares of First Financial Bancorp. in the fourth quarter worth about $208,000. Finally, Empowered Funds LLC lifted its position in shares of First Financial Bancorp. by 5.1% during the 4th quarter. Empowered Funds LLC now owns 308,749 shares of the bank's stock worth $8,299,000 after purchasing an additional 15,037 shares during the last quarter. 77.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on FFBC shares. Stephens reaffirmed an "overweight" rating and issued a $33.00 target price on shares of First Financial Bancorp. in a report on Friday, January 24th. Keefe, Bruyette & Woods lowered their price objective on shares of First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Royal Bank of Canada dropped their target price on shares of 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. Finally, Truist Financial initiated coverage on shares of First Financial Bancorp. in a report on Tuesday, May 13th. They issued a "hold" rating and a $27.00 price target for the company.

First Financial Bancorp. Trading Down 2.7%

First Financial Bancorp. stock opened at $24.22 on Thursday. The business has a 50 day moving average price of $23.86 and a two-hundred day moving average price of $26.40. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. First Financial Bancorp. has a 12 month low of $20.59 and a 12 month high of $31.18. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 10.09 and a beta of 0.94.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $0.63 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.63. The business 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%. First Financial Bancorp.'s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. As a group, equities analysts forecast that First Financial Bancorp. will post 2.64 EPS for the current year.

First Financial Bancorp. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 3.96%. The ex-dividend date is Monday, June 2nd. First Financial Bancorp.'s dividend payout ratio is 39.83%.

Insider Transactions at First Financial Bancorp.

In related news, insider James R. Shank sold 7,600 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total value of $189,392.00. Following the sale, the insider now owns 11,141 shares of the company's stock, valued at $277,633.72. The trade was a 40.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.04% of the stock is owned by insiders.

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.

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