Bahl & Gaynor Inc. Grows Position in First Financial Bancorp. (NASDAQ:FFBC)

Bahl & Gaynor Inc. raised its stake in First Financial Bancorp. (NASDAQ:FFBC) by 12.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 420,060 shares of the bank’s stock after buying an additional 46,890 shares during the period. Bahl & Gaynor Inc.’s holdings in First Financial Bancorp. were worth $11,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Souders Financial Advisors boosted its position in First Financial Bancorp. by 0.9% in the 3rd quarter. Souders Financial Advisors now owns 72,038 shares of the bank’s stock valued at $1,818,000 after buying an additional 617 shares during the period. Blue Trust Inc. raised its stake in shares of First Financial Bancorp. by 11.3% during the 4th quarter. Blue Trust Inc. now owns 9,340 shares of the bank’s stock worth $236,000 after acquiring an additional 945 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of First Financial Bancorp. by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 67,175 shares of the bank’s stock worth $1,707,000 after acquiring an additional 975 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of First Financial Bancorp. during the 3rd quarter worth approximately $30,000. Finally, ORG Partners LLC purchased a new stake in First Financial Bancorp. during the 4th quarter worth approximately $35,000. 77.23% of the stock is owned by hedge funds and other institutional investors.

First Financial Bancorp. Stock Performance

NASDAQ:FFBC opened at $25.94 on Wednesday. The company has a fifty day moving average of $27.46 and a two-hundred day moving average of $26.99. The stock has a market capitalization of $2.48 billion, a PE ratio of 10.81 and a beta of 1.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90. First Financial Bancorp. has a fifty-two week low of $20.59 and a fifty-two week high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC) last issued its earnings results on Thursday, January 23rd. The bank reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. As a group, research analysts forecast that First Financial Bancorp. will post 2.64 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Monday, March 3rd. First Financial Bancorp.’s dividend payout ratio is currently 40.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FFBC. Stephens reissued an “overweight” rating and set a $33.00 target price on shares of First Financial Bancorp. in a research report 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 report on Monday, January 27th. Finally, Keefe, Bruyette & Woods increased their price target on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, January 27th.

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.