Wells Fargo & Company MN Sells 65,591 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Wells Fargo & Company MN trimmed its position in shares of First Financial Bancorp. (NASDAQ:FFBC - Free Report) by 43.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,139 shares of the bank's stock after selling 65,591 shares during the quarter. Wells Fargo & Company MN owned 0.09% of First Financial Bancorp. worth $2,315,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of First Financial Bancorp. in the fourth quarter valued at approximately $8,961,000. Norges Bank bought a new stake in shares of First Financial Bancorp. in the 4th quarter worth $7,827,000. Fisher Asset Management LLC lifted its position in shares of First Financial Bancorp. by 17.6% during the fourth quarter. Fisher Asset Management LLC now owns 849,678 shares of the bank's stock valued at $22,839,000 after purchasing an additional 126,996 shares in the last quarter. Barclays PLC boosted its holdings in First Financial Bancorp. by 140.1% during the third quarter. Barclays PLC now owns 190,742 shares of the bank's stock worth $4,812,000 after purchasing an additional 111,309 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in First Financial Bancorp. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,892,158 shares of the bank's stock worth $292,781,000 after purchasing an additional 72,367 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors.

Insider Activity at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total transaction of $189,392.00. Following the transaction, the insider now directly owns 11,141 shares in the company, valued at approximately $277,633.72. This represents a 40.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.04% of the stock is owned by insiders.

First Financial Bancorp. Price Performance

Shares of First Financial Bancorp. stock traded up $0.12 on Thursday, reaching $23.27. The stock had a trading volume of 46,963 shares, compared to its average volume of 419,447. The business's 50 day moving average is $24.28 and its two-hundred day moving average is $26.52. The company has a market cap of $2.22 billion, a P/E ratio of 9.69 and a beta of 0.85. First Financial Bancorp. has a 1 year low of $20.59 and a 1 year high of $31.18. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40.

First Financial Bancorp. (NASDAQ:FFBC - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $201.59 million for the quarter, compared to analysts' expectations of $214.80 million. During the same quarter last year, the firm posted $0.59 EPS. The company's revenue was up 2.6% compared to the same quarter last year. As a group, research analysts anticipate that First Financial Bancorp. will post 2.64 EPS for the current year.

First Financial Bancorp. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a $0.24 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.96 annualized dividend and a yield of 4.13%. First Financial Bancorp.'s dividend payout ratio (DPR) is presently 39.83%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Stephens restated an "overweight" rating and issued a $33.00 price objective on shares of First Financial Bancorp. in a research note on Friday, January 24th. Keefe, Bruyette & Woods cut their price objective on shares of First Financial Bancorp. from $31.00 to $30.00 and set a "market perform" rating for the company in a report on Monday. Finally, 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 on the stock in a report on Monday.

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.