Empowered Funds LLC Increases Stake in First Financial Bancorp. (NASDAQ:FFBC)

Empowered Funds LLC increased its stake in First Financial Bancorp. (NASDAQ:FFBC) by 5.1% in the fourth quarter, Holdings Channel reports. The firm owned 308,749 shares of the bank’s stock after purchasing an additional 15,037 shares during the period. Empowered Funds LLC’s holdings in First Financial Bancorp. were worth $8,299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of FFBC. Financial Management Professionals Inc. acquired a new stake in shares of First Financial Bancorp. during the third quarter worth $28,000. Point72 DIFC Ltd purchased a new position in First Financial Bancorp. in the 3rd quarter worth $30,000. ORG Partners LLC acquired a new stake in First Financial Bancorp. during the 4th quarter worth about $35,000. Bogart Wealth LLC grew its stake in First Financial Bancorp. by 2,976.9% during the 3rd quarter. Bogart Wealth LLC now owns 2,000 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,935 shares during the last quarter. Finally, KBC Group NV grew its stake in First Financial Bancorp. by 82.8% during the 4th quarter. KBC Group NV now owns 5,150 shares of the bank’s stock valued at $138,000 after purchasing an additional 2,333 shares during the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently 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. Royal Bank of Canada reissued a “sector perform” rating and set a $30.00 price target on shares of First Financial Bancorp. in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, January 27th.

Insider Activity at First Financial Bancorp.

In other news, insider Richard S. Dennen sold 4,068 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $30.01, for a total transaction of $122,080.68. Following the sale, the insider now directly owns 70,652 shares in the company, valued at $2,120,266.52. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.04% of the stock is owned by company insiders.

First Financial Bancorp. Stock Down 1.5 %

Shares of FFBC opened at $28.61 on Monday. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 11.92 and a beta of 1.02. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18. The stock’s 50-day moving average price is $27.78 and its 200-day moving average price is $26.74. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. On average, sell-side analysts predict that First Financial Bancorp. will post 2.64 EPS for the current year.

First Financial Bancorp. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Monday, March 3rd. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 40.00%.

About First Financial Bancorp.

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.