Voloridge Investment Management LLC Reduces Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

Voloridge Investment Management LLC lessened its position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,658 shares of the bank's stock after selling 11,288 shares during the period. Voloridge Investment Management LLC owned approximately 0.13% of First Financial Bancorp. worth $3,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Commonwealth Equity Services LLC increased its holdings in First Financial Bancorp. by 3.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,269 shares of the bank's stock worth $330,000 after acquiring an additional 453 shares during the period. Summit Investment Advisors Inc. increased its holdings in First Financial Bancorp. by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,879 shares of the bank's stock worth $266,000 after acquiring an additional 627 shares during the period. Russell Investments Group Ltd. increased its holdings in First Financial Bancorp. by 7.6% during the 4th quarter. Russell Investments Group Ltd. now owns 11,585 shares of the bank's stock worth $311,000 after acquiring an additional 822 shares during the period. Blue Trust Inc. increased its holdings in First Financial Bancorp. by 11.3% during the 4th quarter. Blue Trust Inc. now owns 9,340 shares of the bank's stock worth $236,000 after acquiring an additional 945 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in First Financial Bancorp. by 0.9% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 109,583 shares of the bank's stock worth $2,943,000 after acquiring an additional 1,003 shares during the period. Institutional investors own 77.23% of the company's stock.

Insider Activity

In other news, insider James R. Shank sold 7,600 shares of the company's stock in a transaction 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 approximately $277,633.72. This represents a 40.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 9,267 shares of company stock valued at $228,972. Corporate insiders own 1.13% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FFBC. Keefe, Bruyette & Woods decreased their target price on shares of First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Truist Financial initiated coverage on shares of First Financial Bancorp. in a report on Tuesday, May 13th. They set a "hold" rating and a $27.00 target price on the stock. Finally, Royal Bank of Canada cut their price target on shares of 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.

First Financial Bancorp. Price Performance

FFBC stock remained flat at $24.27 during midday trading on Friday. 547,946 shares of the company's stock were exchanged, compared to its average volume of 419,488. 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 fifty-two week low of $20.59 and a fifty-two week high of $31.18. The company has a market cap of $2.32 billion, a P/E ratio of 10.11 and a beta of 0.94. The company's 50-day moving average is $23.75 and its 200-day moving average is $26.17.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last released 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 net margin of 18.67% and a return on equity of 10.52%. The business had revenue of $201.59 million during the quarter, compared to analysts' expectations of $214.80 million. During the same quarter in the previous year, the company earned $0.59 EPS. The business's quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities analysts predict 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. 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 3.96%. First Financial Bancorp.'s dividend payout ratio (DPR) 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.