First Financial Bancorp (FFBC) Holdings Reduced by Stevens Capital Management LP

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Stevens Capital Management LP decreased its holdings in shares of First Financial Bancorp (NASDAQ:FFBC) by 50.6% in the second quarter, Holdings Channel reports. The firm owned 7,281 shares of the bank’s stock after selling 7,467 shares during the quarter. Stevens Capital Management LP’s holdings in First Financial Bancorp were worth $223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rhumbline Advisers raised its position in First Financial Bancorp by 1.1% during the 1st quarter. Rhumbline Advisers now owns 151,601 shares of the bank’s stock valued at $4,449,000 after purchasing an additional 1,678 shares during the last quarter. Bank of Montreal Can raised its position in First Financial Bancorp by 33.2% during the 2nd quarter. Bank of Montreal Can now owns 7,481 shares of the bank’s stock valued at $230,000 after purchasing an additional 1,866 shares during the last quarter. Piedmont Investment Advisors LLC raised its position 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 valued at $703,000 after purchasing an additional 1,893 shares during the last quarter. Bbva Compass Bancshares Inc. raised its position in First Financial Bancorp by 18.9% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 16,339 shares of the bank’s stock valued at $501,000 after purchasing an additional 2,592 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its position in First Financial Bancorp by 33.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 11,981 shares of the bank’s stock valued at $352,000 after purchasing an additional 3,000 shares during the last quarter. 74.25% of the stock is owned by institutional investors and hedge funds.

In other First Financial Bancorp news, Director John T. Neighbours sold 850 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $32.50, for a total transaction of $27,625.00. Following the transaction, the director now owns 8,026 shares in the company, valued at approximately $260,845. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Anthony M. Stollings sold 15,847 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $31.59, for a total value of $500,606.73. The disclosure for this sale can be found here. 3.36% of the stock is currently owned by corporate insiders.

FFBC stock opened at $31.50 on Wednesday. First Financial Bancorp has a fifty-two week low of $22.80 and a fifty-two week high of $33.70. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.40 and a beta of 1.03.

First Financial Bancorp (NASDAQ:FFBC) last posted its earnings results on Thursday, July 19th. The bank reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. First Financial Bancorp had a return on equity of 12.13% and a net margin of 25.41%. The firm had revenue of $152.20 million for the quarter, compared to the consensus estimate of $147.77 million. During the same quarter in the prior year, the business earned $0.37 EPS. The business’s revenue for the quarter was up 77.0% on a year-over-year basis. analysts expect that First Financial Bancorp will post 2.25 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Monday, September 3rd will be issued a dividend of $0.20 per share. This is an increase from First Financial Bancorp’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.54%. First Financial Bancorp’s dividend payout ratio is 49.69%.

A number of research analysts have commented on the company. Zacks Investment Research lowered First Financial Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. DA Davidson raised First Financial Bancorp from a “neutral” rating to a “buy” rating in a research report on Thursday, July 26th. Stephens reaffirmed a “buy” rating and set a $35.00 price target on shares of First Financial Bancorp in a research report on Monday, July 23rd. Barclays lowered their price target on First Financial Bancorp from $32.00 to $31.00 and set a “$31.40” rating for the company in a research report on Monday, July 23rd. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $35.00 price target on shares of First Financial Bancorp in a research report on Friday, July 20th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. First Financial Bancorp has a consensus rating of “Hold” and an average 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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Institutional Ownership by Quarter for First Financial Bancorp (NASDAQ:FFBC)

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