Loomis Sayles & Co. L P lessened its holdings in shares of First Financial Bancorp (NASDAQ:FFBC) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 570,878 shares of the bank’s stock after selling 22,571 shares during the period. Loomis Sayles & Co. L P owned about 0.58% of First Financial Bancorp worth $16,955,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the business. Advisors Asset Management Inc. acquired a new position in shares of First Financial Bancorp during the 2nd quarter worth approximately $1,113,000. Bank of Montreal Can lifted its holdings in shares of First Financial Bancorp by 33.2% during the 2nd quarter. Bank of Montreal Can now owns 7,481 shares of the bank’s stock worth $230,000 after acquiring an additional 1,866 shares during the period. Bbva Compass Bancshares Inc. lifted its holdings in shares of First Financial Bancorp by 18.9% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 16,339 shares of the bank’s stock worth $501,000 after acquiring an additional 2,592 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of First Financial Bancorp by 13.0% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,372 shares of the bank’s stock worth $694,000 after acquiring an additional 2,682 shares during the period. Finally, Stieven Capital Advisors L.P. lifted its holdings in shares of First Financial Bancorp by 3.0% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 101,028 shares of the bank’s stock worth $3,001,000 after acquiring an additional 2,900 shares during the period. Hedge funds and other institutional investors own 73.82% of the company’s stock.
A number of brokerages have recently weighed in on FFBC. Sandler O’Neill downgraded shares of First Financial Bancorp from a “buy” rating to a “hold” rating and set a $30.00 price target for the company. in a report on Thursday, November 29th. BidaskClub raised shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Zacks Investment Research downgraded shares of First Financial Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Barclays cut their price target on shares of First Financial Bancorp from $31.00 to $29.00 and set an “underweight” rating for the company in a report on Monday, October 22nd. Finally, Keefe, Bruyette & Woods raised shares of First Financial Bancorp from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $34.00 to $32.00 in a report on Sunday, October 21st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $31.75.
Shares of First Financial Bancorp stock opened at $26.20 on Friday. The company has a market cap of $2.54 billion, a PE ratio of 12.22, a PEG ratio of 1.16 and a beta of 1.15. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. First Financial Bancorp has a 1-year low of $24.05 and a 1-year high of $33.70.
First Financial Bancorp (NASDAQ:FFBC) last issued its quarterly earnings data on Thursday, October 18th. The bank reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.01. The business had revenue of $152.80 million during the quarter, compared to the consensus estimate of $151.74 million. First Financial Bancorp had a net margin of 25.08% and a return on equity of 11.70%. The firm’s revenue was up 63.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, research analysts forecast that First Financial Bancorp will post 2.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.05%. The ex-dividend date is Friday, November 30th. First Financial Bancorp’s payout ratio is 49.69%.
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About First Financial Bancorp
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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