Tudor Investment Corp ET AL Trims Holdings in First Financial Bancorp. (NASDAQ:FFBC)

Tudor Investment Corp ET AL cut its position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 47.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,960 shares of the bank's stock after selling 21,783 shares during the quarter. Tudor Investment Corp ET AL's holdings in First Financial Bancorp. were worth $644,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. ORG Partners LLC purchased a new stake in First Financial Bancorp. in the 4th quarter worth approximately $35,000. Allworth Financial LP acquired a new stake in shares of First Financial Bancorp. during the fourth quarter worth $44,000. Quarry LP grew its position in shares of 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 purchasing an additional 1,021 shares during the period. Smartleaf Asset Management LLC grew its position 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 purchasing an additional 1,873 shares during the period. Finally, Kentucky Trust Co acquired a new position in First Financial Bancorp. in the fourth quarter valued at $76,000. Institutional investors and hedge funds own 77.23% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at First Financial Bancorp.

In other 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.04% of the stock is owned by insiders.

First Financial Bancorp. Stock Performance

Shares of NASDAQ:FFBC opened at $23.77 on Thursday. The business has a 50-day moving average of $23.95 and a two-hundred day moving average of $26.45. The firm has a market capitalization of $2.26 billion, a PE ratio of 9.90 and a beta of 0.94. 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. has a 12 month low of $20.59 and a 12 month high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. The firm had revenue of $201.59 million for the quarter, compared to analyst estimates of $214.80 million. During the same quarter last year, the firm posted $0.59 earnings per share. First Financial Bancorp.'s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, research analysts forecast that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.24 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 4.04%. First Financial Bancorp.'s dividend payout ratio (DPR) 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.

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