First Financial Bancorp. (NASDAQ:FFBC) Shares Acquired by Northern Trust Corp

Northern Trust Corp lifted its position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 16.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,362,436 shares of the bank's stock after acquiring an additional 189,715 shares during the period. Northern Trust Corp owned 1.43% of First Financial Bancorp. worth $36,622,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. ORG Partners LLC acquired a new position in shares of First Financial Bancorp. during the 4th quarter worth about $35,000. Allworth Financial LP bought a new position in shares of First Financial Bancorp. during the fourth quarter worth about $44,000. Quarry LP grew its stake 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 acquiring an additional 1,021 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of 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 buying an additional 1,873 shares during the period. Finally, Kentucky Trust Co purchased a new position in First Financial Bancorp. during the fourth quarter worth about $76,000. Institutional investors and hedge funds own 77.23% of the company's stock.

Insider Activity

In other news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total transaction of $189,392.00. Following the sale, the insider now directly owns 11,141 shares in the company, valued at $277,633.72. The trade was a 40.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.04% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FFBC shares. Royal Bank of Canada reduced their price objective on First Financial Bancorp. from $30.00 to $27.00 and set a "sector perform" rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods cut 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 note on Monday, April 28th. Truist Financial started coverage on First Financial Bancorp. in a report on Tuesday. They set a "hold" rating and a $27.00 price objective for the company. Finally, Stephens reiterated an "overweight" rating and set a $33.00 price objective on shares of First Financial Bancorp. in a research note on Friday, January 24th.

First Financial Bancorp. Stock Down 0.1%

Shares of FFBC traded down $0.03 during midday trading on Thursday, hitting $24.99. The company had a trading volume of 40,366 shares, compared to its average volume of 419,319. 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 company's 50 day moving average price is $23.83 and its 200 day moving average price is $26.43. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 10.43 and a beta of 0.94.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. The business had revenue of $201.59 million during the quarter, compared to the consensus estimate of $214.80 million. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. The firm's quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, equities research analysts predict that First Financial Bancorp. will post 2.64 EPS for the current year.

First Financial Bancorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date is Monday, June 2nd. First Financial Bancorp.'s dividend payout ratio is presently 39.83%.

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.