Franklin Resources Inc. Cuts Stock Holdings in First Financial Bancorp. (NASDAQ:FFBC)

Franklin Resources Inc. trimmed its position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 33.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,437 shares of the bank's stock after selling 22,738 shares during the period. Franklin Resources Inc.'s holdings in First Financial Bancorp. were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Alliancebernstein L.P. boosted its holdings in First Financial Bancorp. by 2.9% in the 4th quarter. Alliancebernstein L.P. now owns 120,512 shares of the bank's stock worth $3,239,000 after buying an additional 3,450 shares during the period. Norges Bank purchased a new stake in First Financial Bancorp. during the 4th quarter worth about $7,827,000. Prudential Financial Inc. boosted its stake in First Financial Bancorp. by 6.2% in the 4th quarter. Prudential Financial Inc. now owns 390,966 shares of the bank's stock worth $10,509,000 after purchasing an additional 22,681 shares during the period. Advantage Alpha Capital Partners LP grew its holdings in First Financial Bancorp. by 12.6% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 22,450 shares of the bank's stock valued at $603,000 after buying an additional 2,518 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of First Financial Bancorp. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,892,158 shares of the bank's stock valued at $292,781,000 after buying an additional 72,367 shares during the period. 77.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. 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 sale, the insider now directly owns 11,141 shares in the company, valued at approximately $277,633.72. This trade represents a 40.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.04% of the stock is currently owned by corporate insiders.

First Financial Bancorp. Price Performance

Shares of First Financial Bancorp. stock traded up $0.25 on Friday, hitting $22.65. 1,677,141 shares of the company traded hands, compared to its average volume of 415,918. First Financial Bancorp. has a 12-month low of $20.59 and a 12-month high of $31.18. The firm's 50-day simple moving average is $25.00 and its 200 day simple moving average is $26.62. The company has a market cap of $2.16 billion, a P/E ratio of 9.44 and a beta of 0.85. 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, January 23rd. The bank reported $0.71 earnings per share (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%. Analysts expect that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.24 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.96 annualized dividend and a dividend yield of 4.24%. First Financial Bancorp.'s dividend payout ratio is currently 40.00%.

Analysts Set New Price Targets

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

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.