Frazier Financial Advisors LLC Has $503,000 Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

Frazier Financial Advisors LLC reduced its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,627 shares of the bank’s stock after selling 970 shares during the period. First Financial Bancorp. comprises about 0.4% of Frazier Financial Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Frazier Financial Advisors LLC’s holdings in First Financial Bancorp. were worth $503,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FFBC. Vanguard Group Inc. grew its holdings in First Financial Bancorp. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,892,158 shares of the bank’s stock valued at $292,781,000 after purchasing an additional 72,367 shares during the period. State Street Corp grew its stake in shares of First Financial Bancorp. by 0.9% in the third quarter. State Street Corp now owns 4,643,440 shares of the bank’s stock valued at $117,154,000 after buying an additional 39,655 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of First Financial Bancorp. by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,271,990 shares of the bank’s stock worth $57,333,000 after purchasing an additional 34,977 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in First Financial Bancorp. by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,304,922 shares of the bank’s stock valued at $35,076,000 after buying an additional 22,573 shares during the period. Finally, Fisher Asset Management LLC lifted its position in First Financial Bancorp. by 17.6% during the fourth quarter. Fisher Asset Management LLC now owns 849,678 shares of the bank’s stock worth $22,839,000 after acquiring an additional 126,996 shares during the last quarter. Institutional investors own 77.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FFBC. Stephens restated an “overweight” rating and issued a $33.00 price target on shares of First Financial Bancorp. in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price target on First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $30.00 target price on shares of First Financial Bancorp. in a research report on Monday, January 27th.

First Financial Bancorp. Stock Performance

Shares of First Financial Bancorp. stock opened at $25.29 on Friday. First Financial Bancorp. has a 12 month low of $20.59 and a 12 month high of $31.18. The business’s fifty day simple moving average is $26.84 and its 200 day simple moving average is $26.86. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $2.41 billion, a P/E ratio of 10.54 and a beta of 0.99.

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

First Financial Bancorp. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.96 annualized dividend and a yield of 3.80%. First Financial Bancorp.’s payout ratio is currently 40.00%.

Insider Buying and Selling at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of First Financial Bancorp. stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total transaction of $189,392.00. Following the completion of the transaction, the insider now directly owns 11,141 shares in the company, valued at approximately $277,633.72. This trade represents a 40.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.04% of the company’s stock.

First Financial Bancorp. 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.