Comerica Bank boosted its stake in shares of First Financial Bancorp (NASDAQ:FFBC) by 57.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,770 shares of the bank’s stock after purchasing an additional 37,852 shares during the period. Comerica Bank owned approximately 0.11% of First Financial Bancorp worth $3,279,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Crossmark Global Holdings Inc. grew its holdings in First Financial Bancorp by 62.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 11,752 shares of the bank’s stock valued at $360,000 after purchasing an additional 4,523 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in First Financial Bancorp by 14.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 43,979 shares of the bank’s stock worth $1,348,000 after acquiring an additional 5,641 shares in the last quarter. Aperio Group LLC grew its holdings in First Financial Bancorp by 26.1% during the 2nd quarter. Aperio Group LLC now owns 36,476 shares of the bank’s stock worth $1,118,000 after acquiring an additional 7,543 shares in the last quarter. Piedmont Investment Advisors LLC grew its holdings in First Financial Bancorp by 9.0% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 22,930 shares of the bank’s stock worth $703,000 after acquiring an additional 1,893 shares in the last quarter. Finally, Kaizen Advisory LLC acquired a new position in First Financial Bancorp during the 2nd quarter worth $1,198,000. 80.55% of the stock is currently owned by institutional investors.
Shares of FFBC stock opened at $31.75 on Friday. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. First Financial Bancorp has a 1-year low of $22.80 and a 1-year high of $33.70.
First Financial Bancorp (NASDAQ:FFBC) last posted its quarterly earnings results on Thursday, July 19th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.05. First Financial Bancorp had a net margin of 25.41% and a return on equity of 12.13%. The company had revenue of $152.20 million for the quarter, compared to the consensus estimate of $147.77 million. During the same period last year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 77.0% on a year-over-year basis. equities analysts forecast that First Financial Bancorp will post 2.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Monday, September 3rd will be given a $0.20 dividend. This is an increase from First Financial Bancorp’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Thursday, August 30th. First Financial Bancorp’s dividend payout ratio (DPR) is presently 47.20%.
In other First Financial Bancorp news, Director Vince Berta purchased 1,500 shares of First Financial Bancorp stock in a transaction dated Tuesday, July 31st. The shares were bought at an average cost of $29.95 per share, for a total transaction of $44,925.00. Following the transaction, the director now owns 6,527 shares in the company, valued at approximately $195,483.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John T. Neighbours sold 850 shares of the firm’s stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $32.50, for a total transaction of $27,625.00. Following the completion of the transaction, the director now owns 8,026 shares in the company, valued at $260,845. The disclosure for this sale can be found here. Company insiders own 3.36% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of First Financial Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. DA Davidson raised shares of First Financial Bancorp from a “neutral” rating to a “buy” rating in a report on Thursday, July 26th. Stephens reissued a “buy” rating and set a $35.00 price objective on shares of First Financial Bancorp in a report on Monday, July 23rd. Barclays decreased their price objective on shares of First Financial Bancorp from $32.00 to $31.00 and set a “$31.40” rating for the company in a report on Monday, July 23rd. Finally, Sandler O’Neill reissued a “buy” rating and set a $35.00 price objective on shares of First Financial Bancorp in a report on Friday, July 20th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.67.
First Financial Bancorp Company Profile
First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and other banking, and banking-related services to individuals and businesses in Ohio, Indiana, and Kentucky. The company accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers.
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