Rhumbline Advisers Sells 12,660 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Rhumbline Advisers decreased its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 271,655 shares of the bank's stock after selling 12,660 shares during the quarter. Rhumbline Advisers owned about 0.28% of First Financial Bancorp. worth $6,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FFBC. Kentucky Trust Co bought a new position in shares of First Financial Bancorp. during the 4th quarter worth about $76,000. Allworth Financial LP acquired a new stake in First Financial Bancorp. during the fourth quarter worth about $44,000. Principal Financial Group Inc. lifted its position 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 worth $13,759,000 after acquiring an additional 20,636 shares during the period. Ieq Capital LLC acquired a new stake in shares of First Financial Bancorp. during the 4th quarter worth approximately $228,000. Finally, QRG Capital Management Inc. increased its position in shares of First Financial Bancorp. by 4.3% during the fourth quarter. QRG Capital Management Inc. now owns 37,505 shares of the bank's stock valued at $1,008,000 after purchasing an additional 1,537 shares during the period. Institutional investors and hedge funds own 77.23% of the company's stock.

Insider Activity

In other First Financial Bancorp. news, insider James R. Shank sold 7,600 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total transaction of $189,392.00. Following the sale, the insider now owns 11,141 shares of the company's stock, valued at $277,633.72. This represents a 40.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 9,267 shares of company stock worth $228,972. 1.13% of the stock is owned by corporate insiders.

First Financial Bancorp. Price Performance

Shares of First Financial Bancorp. stock traded down $0.14 during mid-day trading on Thursday, reaching $23.89. 256,493 shares of the stock were exchanged, compared to its average volume of 418,119. First Financial Bancorp. has a fifty-two week low of $20.69 and a fifty-two week high of $31.18. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 9.95 and a beta of 0.97. The firm has a 50-day simple moving average of $23.66 and a 200 day simple moving average of $25.92. 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 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 company had revenue of $201.59 million during the quarter, compared to analyst estimates of $214.80 million. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. The company's revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. On average, sell-side analysts predict that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.02%. First Financial Bancorp.'s dividend payout ratio (DPR) is presently 39.83%.

Wall Street Analyst Weigh In

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

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.