The Manufacturers Life Insurance Company Has $19.93 Million Position in First Financial Bancorp. (NASDAQ:FFBC)

The Manufacturers Life Insurance Company lowered its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 741,459 shares of the bank's stock after selling 37,828 shares during the period. The Manufacturers Life Insurance Company owned about 0.78% of First Financial Bancorp. worth $19,930,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of First Financial Bancorp. in the fourth quarter worth $8,961,000. First Trust Advisors LP lifted its holdings in shares of First Financial Bancorp. by 38.3% in the fourth quarter. First Trust Advisors LP now owns 1,186,286 shares of the bank's stock worth $31,887,000 after buying an additional 328,788 shares in the last quarter. Norges Bank bought a new stake in First Financial Bancorp. in the 4th quarter worth approximately $7,827,000. Hsbc Holdings PLC lifted its position in First Financial Bancorp. by 713.5% during the fourth quarter. Hsbc Holdings PLC now owns 265,843 shares of the bank's stock valued at $7,149,000 after purchasing an additional 233,163 shares during the last quarter. Finally, Invesco Ltd. grew its position in First Financial Bancorp. by 98.0% in the fourth quarter. Invesco Ltd. now owns 447,824 shares of the bank's stock worth $12,038,000 after acquiring an additional 221,683 shares in the last quarter. Hedge funds and other institutional investors own 77.23% of the company's stock.

Wall Street Analysts Forecast Growth

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

First Financial Bancorp. Stock Up 2.4 %

Shares of FFBC stock traded up $0.58 during trading hours on Thursday, reaching $24.35. 68,671 shares of the stock were exchanged, compared to its average volume of 419,346. The firm has a market capitalization of $2.32 billion, a P/E ratio of 10.12 and a beta of 0.94. The business's fifty day moving average is $23.95 and its two-hundred day moving average is $26.45. First Financial Bancorp. has a 12-month low of $20.59 and a 12-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 posted its quarterly earnings data 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 net margin of 18.67% and a return on equity of 10.52%. The company had revenue of $201.59 million for the quarter, compared to analyst estimates of $214.80 million. During the same period in the previous year, the business posted $0.59 earnings per share. First Financial Bancorp.'s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts expect that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.96 annualized dividend and a yield of 3.94%. First Financial Bancorp.'s dividend payout ratio (DPR) is presently 39.83%.

Insiders Place Their Bets

In other First Financial Bancorp. news, insider James R. Shank sold 7,600 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total value of $189,392.00. Following the completion of the sale, the insider now owns 11,141 shares of the company's stock, valued at $277,633.72. This trade represents a 40.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.04% of the company's stock.

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.