JPMorgan Chase & Co. Decreases Stock Holdings in First Financial Bancorp. (NASDAQ:FFBC)

JPMorgan Chase & Co. trimmed its position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,174,469 shares of the bank's stock after selling 91,304 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.32% of First Financial Bancorp. worth $85,330,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in FFBC. Point72 DIFC Ltd purchased a new stake in shares of First Financial Bancorp. in the third quarter valued at approximately $30,000. ORG Partners LLC purchased a new stake in First Financial Bancorp. in the 4th quarter valued at $35,000. Allworth Financial LP acquired a new position in shares of First Financial Bancorp. during the 4th quarter valued at about $44,000. Smartleaf Asset Management LLC increased its position in First Financial Bancorp. by 221.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank's stock worth $73,000 after purchasing an additional 1,873 shares during the last quarter. Finally, Kentucky Trust Co purchased a new position in First Financial Bancorp. during the fourth quarter worth about $76,000. 77.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider James R. Shank sold 7,600 shares of the firm's 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 directly owns 11,141 shares of the company's stock, valued at $277,633.72. This trade represents a 40.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.04% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on FFBC. Stephens reaffirmed an "overweight" rating and issued a $33.00 price target on shares of First Financial Bancorp. in a research note on Friday, January 24th. Keefe, Bruyette & Woods increased their target price on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the stock a "market perform" rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $30.00 price target on shares of First Financial Bancorp. in a research note on Monday, January 27th.

First Financial Bancorp. Price Performance

FFBC remained flat at $22.10 on Tuesday. The company had a trading volume of 560,590 shares, compared to its average volume of 403,340. The company has a market capitalization of $2.11 billion, a P/E ratio of 9.21 and a beta of 0.85. First Financial Bancorp. has a 52-week low of $20.59 and a 52-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. The business has a fifty day simple moving average of $26.03 and a 200 day simple moving average of $26.75.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.06. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. As a group, analysts anticipate that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.24 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.96 annualized dividend and a yield of 4.34%. First Financial Bancorp.'s dividend payout ratio is currently 40.00%.

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.