First Financial Bancorp. (NASDAQ:FFBC) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP lowered its position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 66.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 14,494 shares of the bank's stock after selling 29,327 shares during the quarter. Two Sigma Investments LP's holdings in First Financial Bancorp. were worth $390,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FFBC. Kentucky Trust Co purchased a new position in First Financial Bancorp. during the fourth quarter valued at approximately $76,000. Allworth Financial LP purchased a new position in First Financial Bancorp. in the fourth quarter valued at $44,000. Principal Financial Group Inc. raised its position in shares of First Financial Bancorp. by 4.2% in the fourth 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 position in shares of First Financial Bancorp. in the fourth quarter worth about $228,000. Finally, QRG Capital Management Inc. boosted its stake in shares of First Financial Bancorp. by 4.3% during the 4th quarter. QRG Capital Management Inc. now owns 37,505 shares of the bank's stock worth $1,008,000 after acquiring an additional 1,537 shares in the last quarter. Hedge funds and other institutional investors own 77.23% of the company's stock.

Insider Buying and Selling at First Financial Bancorp.

In related news, insider James R. Shank sold 7,600 shares of the stock in a transaction that occurred on 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 trade represents a 40.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 9,267 shares of company stock worth $228,972. Insiders own 1.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FFBC. Royal Bank of Canada reduced their price target on First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating for the company in a report on Monday, April 28th. Truist Financial assumed coverage on First Financial Bancorp. in a research note on Tuesday, May 13th. They set a "hold" rating and a $27.00 target price for the company. Finally, Keefe, Bruyette & Woods dropped their price target 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.

First Financial Bancorp. Price Performance

Shares of First Financial Bancorp. stock traded down $0.54 during mid-day trading on Friday, reaching $23.35. 373,802 shares of the stock traded hands, compared to its average volume of 418,337. The stock has a market capitalization of $2.24 billion, a PE ratio of 9.73 and a beta of 0.97. The business has a 50-day moving average of $23.72 and a 200 day moving average of $25.83. 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 quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $0.63 earnings per share for the quarter, meeting 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 company had revenue of $201.59 million for the quarter, compared to analyst estimates of $214.80 million. During the same quarter last year, the firm posted $0.59 EPS. The firm's revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts predict that First Financial Bancorp. will post 2.64 EPS for the current year.

First Financial Bancorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.24 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 4.11%. First Financial Bancorp.'s payout ratio is 39.83%.

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.