Waverly Advisors LLC Takes Position in First Financial Bancorp. (NASDAQ:FFBC)

Waverly Advisors LLC bought a new position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 46,782 shares of the bank's stock, valued at approximately $1,258,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FFBC. Allworth Financial LP acquired a new stake in First Financial Bancorp. in the fourth quarter valued at approximately $44,000. Quarry LP grew its holdings in First Financial Bancorp. by 68.9% in the fourth quarter. Quarry LP now owns 2,502 shares of the bank's stock valued at $67,000 after purchasing an additional 1,021 shares during the period. Smartleaf Asset Management LLC grew its holdings in First Financial Bancorp. by 221.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank's stock valued at $73,000 after purchasing an additional 1,873 shares during the period. Kentucky Trust Co acquired a new stake in First Financial Bancorp. in the fourth quarter valued at approximately $76,000. Finally, Sterling Capital Management LLC grew its holdings in First Financial Bancorp. by 807.3% in the fourth quarter. Sterling Capital Management LLC now owns 2,976 shares of the bank's stock valued at $80,000 after purchasing an additional 2,648 shares during the period. 77.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 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 directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.13% of the company's stock.

First Financial Bancorp. Stock Down 0.5%

NASDAQ FFBC traded down $0.11 during trading hours on Thursday, hitting $24.02. 65,479 shares of the company were exchanged, compared to its average volume of 417,778. The company has a 50 day moving average of $23.79 and a two-hundred day moving average of $26.28. 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 52-week low of $20.59 and a 52-week high of $31.18. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 9.99 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 EPS 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 business had revenue of $201.59 million for the quarter, compared to the consensus estimate of $214.80 million. During the same quarter in the prior year, the business posted $0.59 EPS. The business's revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given 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 4.00%. First Financial Bancorp.'s dividend payout ratio (DPR) is presently 39.83%.

Wall Street Analysts Forecast Growth

FFBC has been the topic of several research reports. Keefe, Bruyette & Woods decreased their target price on First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Truist Financial initiated coverage on First Financial Bancorp. in a research report on Tuesday, May 13th. They issued a "hold" rating and a $27.00 target price on the stock. Finally, Royal Bank of Canada decreased their target price on 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.

First Financial Bancorp. 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.