Kennedy Capital Management Inc. cut its holdings in First Financial Bancorp (NASDAQ:FFBC) by 20.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,668 shares of the bank’s stock after selling 29,832 shares during the quarter. Kennedy Capital Management Inc. owned approximately 0.18% of First Financial Bancorp worth $2,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in First Financial Bancorp during the 3rd quarter valued at approximately $125,000. Trustcore Financial Services LLC bought a new stake in First Financial Bancorp during the 4th quarter valued at approximately $146,000. FDx Advisors Inc. bought a new stake in First Financial Bancorp during the 3rd quarter valued at approximately $205,000. Bedel Financial Consulting Inc. bought a new stake in First Financial Bancorp during the 4th quarter valued at approximately $249,000. Finally, Crossmark Global Holdings Inc. bought a new stake in First Financial Bancorp during the 3rd quarter valued at approximately $250,000. 80.17% of the stock is currently owned by institutional investors.
Shares of First Financial Bancorp (FFBC) opened at $29.20 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.91. First Financial Bancorp has a 12-month low of $22.80 and a 12-month high of $29.65. The company has a market capitalization of $1,819.33, a P/E ratio of 18.25, a PEG ratio of 1.39 and a beta of 1.19.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a $0.19 dividend. This is a boost from First Financial Bancorp’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, February 28th. First Financial Bancorp’s payout ratio is currently 47.50%.
Several research firms have weighed in on FFBC. BidaskClub raised First Financial Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. FIG Partners raised First Financial Bancorp from a “market perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a research report on Friday, February 9th. Hilliard Lyons raised First Financial Bancorp from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Monday, January 22nd. Finally, Barclays lifted their price objective on First Financial Bancorp from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $29.90.
First Financial Bancorp Profile
First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.
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