State of Tennessee Department of Treasury Has $1.18 Million Position in First Financial Bancorp. (NASDAQ:FFBC)

State of Tennessee Department of Treasury boosted its stake in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 79.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,918 shares of the bank's stock after buying an additional 19,495 shares during the period. State of Tennessee Department of Treasury's holdings in First Financial Bancorp. were worth $1,181,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. ORG Partners LLC acquired a new position in First Financial Bancorp. in the 4th quarter valued at approximately $35,000. Allworth Financial LP acquired a new position in shares of First Financial Bancorp. in the fourth quarter worth $44,000. Smartleaf Asset Management LLC raised its holdings in shares of 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 acquiring an additional 1,873 shares in the last quarter. Kentucky Trust Co acquired a new stake in First Financial Bancorp. during the fourth quarter valued at $76,000. Finally, Sterling Capital Management LLC grew its stake in First Financial Bancorp. by 807.3% in the fourth 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 in the last quarter. 77.23% of the stock is owned by hedge funds and other institutional investors.

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 that occurred 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 completion of the transaction, the insider now owns 11,141 shares of the company's stock, valued at $277,633.72. This represents a 40.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

First Financial Bancorp. Trading Down 0.4 %

Shares of FFBC traded down $0.09 during trading hours on Tuesday, reaching $23.87. The stock had a trading volume of 18,327 shares, compared to its average volume of 419,287. The company has a market cap of $2.27 billion, a P/E ratio of 9.96 and a beta of 0.94. 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 firm has a 50-day moving average of $24.09 and a 200 day moving average of $26.49.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. The business had revenue of $201.59 million for the quarter, compared to analysts' expectations of $214.80 million. During the same quarter in the previous year, the business posted $0.59 EPS. First Financial Bancorp.'s revenue for the quarter was up 2.6% on a year-over-year basis. On average, sell-side analysts expect 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. Stockholders of record on Monday, June 2nd will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Monday, June 2nd. First Financial Bancorp.'s dividend payout ratio is 39.83%.

About First Financial Bancorp.

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.