Hsbc Holdings PLC Boosts Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

Hsbc Holdings PLC raised its stake in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 713.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 265,843 shares of the bank's stock after purchasing an additional 233,163 shares during the quarter. Hsbc Holdings PLC owned approximately 0.28% of First Financial Bancorp. worth $7,149,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. ORG Partners LLC bought a new position in shares of First Financial Bancorp. in the fourth quarter valued at $35,000. Allworth Financial LP bought a new position in shares of First Financial Bancorp. in the 4th quarter valued at about $44,000. Smartleaf Asset Management LLC increased its stake in shares of First Financial Bancorp. by 221.9% during the 4th 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. Kentucky Trust Co bought a new stake in shares of First Financial Bancorp. in the 4th quarter valued at about $76,000. Finally, Sterling Capital Management LLC lifted its stake in First Financial Bancorp. by 807.3% in the 4th 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 last quarter. Institutional investors and hedge funds own 77.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FFBC. Stephens restated an "overweight" rating and issued a $33.00 price objective on shares of First Financial Bancorp. in a research note on Friday, January 24th. Royal Bank of Canada dropped their price target on First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating on the stock in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating for the company in a research report on Monday, April 28th.

Insider Buying and Selling

In other First Financial Bancorp. 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 sale, the insider now owns 11,141 shares in the company, valued at approximately $277,633.72. The trade was a 40.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.04% of the stock is owned by corporate insiders.

First Financial Bancorp. Price Performance

FFBC traded up $0.66 during trading on Friday, hitting $24.00. 325,056 shares of the stock traded hands, compared to its average volume of 421,311. The business has a 50 day moving average price of $24.15 and a 200 day moving average price of $26.50. The company has a market cap of $2.29 billion, a price-to-earnings ratio of 10.00 and a beta of 0.94. First Financial Bancorp. has a twelve month low of $20.59 and a twelve month high of $31.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.90 and a quick ratio of 0.90.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $201.59 million for the quarter, compared to analyst estimates of $214.80 million. During the same period last year, the firm posted $0.59 earnings per share. The business's revenue for the quarter was up 2.6% on a year-over-year basis. Equities research analysts forecast that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 4.00%. First Financial Bancorp.'s payout ratio is 39.83%.

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.