AlphaQuest LLC Buys 45,149 Shares of First Financial Bancorp. $FFBC

AlphaQuest LLC raised its stake in First Financial Bancorp. (NASDAQ:FFBC) by 114.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,595 shares of the bank’s stock after purchasing an additional 45,149 shares during the quarter. AlphaQuest LLC’s holdings in First Financial Bancorp. were worth $2,117,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. First Horizon Corp boosted its stake in shares of First Financial Bancorp. by 56.0% during the 4th quarter. First Horizon Corp now owns 1,526 shares of the bank’s stock worth $38,000 after acquiring an additional 548 shares during the period. MAI Capital Management lifted its holdings in First Financial Bancorp. by 530.6% during the 3rd quarter. MAI Capital Management now owns 1,545 shares of the bank’s stock worth $39,000 after purchasing an additional 1,300 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in First Financial Bancorp. by 38.7% during the 4th quarter. Hantz Financial Services Inc. now owns 1,743 shares of the bank’s stock worth $44,000 after purchasing an additional 486 shares during the last quarter. Smithfield Trust Co acquired a new stake in First Financial Bancorp. during the 4th quarter worth approximately $50,000. Finally, Smartleaf Asset Management LLC lifted its holdings in First Financial Bancorp. by 19.4% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,903 shares of the bank’s stock worth $74,000 after purchasing an additional 472 shares during the last quarter. 77.23% of the stock is currently owned by institutional investors.

Insider Transactions at First Financial Bancorp.

In other First Financial Bancorp. news, insider Claude E. Davis sold 26,123 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $30.45, for a total value of $795,445.35. Following the sale, the insider owned 30,410 shares in the company, valued at approximately $925,984.50. The trade was a 46.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James M. Anderson sold 4,263 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $30.00, for a total value of $127,890.00. Following the completion of the sale, the chief financial officer owned 118,537 shares in the company, valued at $3,556,110. This trade represents a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 30,706 shares of company stock worth $932,372 in the last quarter. Corporate insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Royal Bank Of Canada lifted their price target on First Financial Bancorp. from $30.00 to $32.00 and gave the stock a “sector perform” rating in a report on Monday, April 27th. Raymond James Financial reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of First Financial Bancorp. in a report on Monday, April 27th. Truist Financial lifted their price objective on First Financial Bancorp. from $30.00 to $33.00 and gave the company a “hold” rating in a report on Monday, April 27th. Stephens assumed coverage on First Financial Bancorp. in a report on Friday, March 27th. They issued an “overweight” rating and a $33.00 price objective for the company. Finally, Hovde Group lifted their price objective on First Financial Bancorp. from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.00.

First Financial Bancorp. Trading Up 1.4%

Shares of FFBC stock opened at $31.15 on Wednesday. The firm has a market capitalization of $3.27 billion, a P/E ratio of 11.01 and a beta of 0.94. First Financial Bancorp. has a twelve month low of $22.93 and a twelve month high of $31.38. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $29.15 and its 200 day simple moving average is $27.63.

First Financial Bancorp. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, June 1st. First Financial Bancorp.’s payout ratio is 35.34%.

First Financial Bancorp. Company Profile

First Financial Bancorp (NASDAQ: FFBC) is a bank holding company headquartered in Cincinnati, Ohio, and the parent of First Financial Bank. The company provides a comprehensive suite of commercial and consumer banking services through a network of more than 100 full-service banking centers and mortgage offices across Ohio, Indiana and Kentucky. Its core mission centers on delivering personalized relationship banking to businesses, individuals and public sector clients.

First Financial Bank’s product portfolio includes deposit solutions such as checking, savings and money market accounts, alongside a range of lending offerings that cover commercial and industrial loans, real estate and construction financing, home mortgages and home equity lines of credit.