Fisher Asset Management LLC Sells 41,641 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Fisher Asset Management LLC lowered its position in First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 667,636 shares of the bank's stock after selling 41,641 shares during the period. Fisher Asset Management LLC owned 0.70% of First Financial Bancorp. worth $15,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FFBC. Denali Advisors LLC increased its holdings in shares of First Financial Bancorp. by 64.7% during the 4th quarter. Denali Advisors LLC now owns 156,000 shares of the bank's stock valued at $3,705,000 after acquiring an additional 61,300 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of First Financial Bancorp. in the third quarter valued at approximately $1,086,000. Charles Schwab Investment Management Inc. lifted its stake in shares of First Financial Bancorp. by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,106,449 shares of the bank's stock worth $21,686,000 after buying an additional 48,501 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of First Financial Bancorp. during the 4th quarter worth $1,130,000. Finally, Bahl & Gaynor Inc. grew its stake in First Financial Bancorp. by 6.7% in the 3rd quarter. Bahl & Gaynor Inc. now owns 573,241 shares of the bank's stock valued at $11,236,000 after buying an additional 35,764 shares during the last quarter. Institutional investors own 77.23% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on FFBC. Royal Bank of Canada reissued a "sector perform" rating and set a $24.00 target price on shares of First Financial Bancorp. in a research report on Tuesday, April 9th. Piper Sandler began coverage on First Financial Bancorp. in a research note on Friday, February 23rd. They set an "overweight" rating and a $26.00 target price for the company.

First Financial Bancorp. Stock Performance

First Financial Bancorp. stock traded up $0.08 during mid-day trading on Monday, reaching $23.37. The company had a trading volume of 279,285 shares, compared to its average volume of 326,692. The company has a 50 day moving average of $21.82 and a 200-day moving average of $21.78. First Financial Bancorp. has a 52 week low of $17.23 and a 52 week high of $24.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.46. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 9.42 and a beta of 1.04.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last released its earnings results on Friday, April 26th. The bank reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. First Financial Bancorp. had a net margin of 20.74% and a return on equity of 11.22%. The business had revenue of $287.20 million during the quarter, compared to analysts' expectations of $201.79 million. During the same quarter last year, the company earned $0.76 earnings per share. On average, sell-side analysts expect that First Financial Bancorp. will post 2.34 EPS for the current fiscal year.

First Financial Bancorp. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, June 3rd. First Financial Bancorp.'s dividend payout ratio is presently 37.10%.

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.