UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $8.07 Million Stock Holdings in First Financial Bancorp. (NASDAQ:FFBC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of First Financial Bancorp. (NASDAQ:FFBC) by 32.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 300,387 shares of the bank’s stock after purchasing an additional 73,727 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First Financial Bancorp. were worth $8,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Waverly Advisors LLC acquired a new stake in First Financial Bancorp. during the fourth quarter worth about $1,258,000. ProShare Advisors LLC boosted its holdings in First Financial Bancorp. by 44.4% during the fourth quarter. ProShare Advisors LLC now owns 28,480 shares of the bank’s stock valued at $766,000 after purchasing an additional 8,758 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in First Financial Bancorp. during the fourth quarter valued at approximately $380,000. Nuveen Asset Management LLC boosted its holdings in First Financial Bancorp. by 65.2% during the fourth quarter. Nuveen Asset Management LLC now owns 669,409 shares of the bank’s stock valued at $17,994,000 after purchasing an additional 264,083 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in First Financial Bancorp. by 16.9% during the fourth quarter. Millennium Management LLC now owns 567,572 shares of the bank’s stock valued at $15,256,000 after purchasing an additional 82,025 shares in the last quarter. 77.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank of Canada decreased their price objective on First Financial Bancorp. from $30.00 to $27.00 and set a “sector perform” rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on First Financial Bancorp. from $31.00 to $30.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Finally, Truist Financial assumed coverage on First Financial Bancorp. in a report on Tuesday, May 13th. They set a “hold” rating and a $27.00 price objective on the stock.

First Financial Bancorp. Price Performance

Shares of FFBC opened at $24.27 on Friday. The company has a market capitalization of $2.32 billion, a P/E ratio of 10.11 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.90 and a quick ratio of 0.90. First Financial Bancorp. has a one year low of $20.59 and a one year high of $31.18. The business’s 50 day simple moving average is $23.75 and its 200-day simple moving average is $26.19.

First Financial Bancorp. (NASDAQ:FFBC) last announced its earnings results on Thursday, April 24th. The bank reported $0.63 EPS for the quarter, hitting the consensus estimate of $0.63. The business had revenue of $201.59 million for the quarter, compared to the consensus estimate of $214.80 million. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. First Financial Bancorp.’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 EPS. As a group, sell-side analysts predict that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Monday, June 2nd. First Financial Bancorp.’s payout ratio is currently 39.83%.

Insider Transactions at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total value of $189,392.00. Following the transaction, the insider now directly owns 11,141 shares of the company’s stock, valued at $277,633.72. The trade was a 40.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 9,267 shares of company stock valued at $228,972 in the last three months. 1.13% of the stock is owned by corporate insiders.

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.