Fisher Asset Management LLC Sells 23,343 Shares of First Financial Bancorp. $FFBC

Fisher Asset Management LLC reduced its position in First Financial Bancorp. (NASDAQ:FFBC) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 699,057 shares of the bank’s stock after selling 23,343 shares during the quarter. Fisher Asset Management LLC owned about 0.71% of First Financial Bancorp. worth $17,490,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. boosted its position in shares of First Financial Bancorp. by 38.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,743 shares of the bank’s stock valued at $44,000 after acquiring an additional 486 shares during the period. HighTower Advisors LLC raised its stake in First Financial Bancorp. by 2.1% in the fourth quarter. HighTower Advisors LLC now owns 59,858 shares of the bank’s stock valued at $1,498,000 after purchasing an additional 1,242 shares in the last quarter. TD Private Client Wealth LLC raised its stake in First Financial Bancorp. by 14.2% in the fourth quarter. TD Private Client Wealth LLC now owns 3,309 shares of the bank’s stock valued at $83,000 after purchasing an additional 412 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in First Financial Bancorp. by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 112,830 shares of the bank’s stock valued at $2,823,000 after purchasing an additional 2,017 shares in the last quarter. Finally, Allworth Financial LP raised its stake in First Financial Bancorp. by 23.5% in the fourth quarter. Allworth Financial LP now owns 4,053 shares of the bank’s stock valued at $101,000 after purchasing an additional 772 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors.

First Financial Bancorp. Stock Down 1.1%

Shares of NASDAQ FFBC opened at $30.82 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32. First Financial Bancorp. has a 52 week low of $22.93 and a 52 week high of $31.38. The firm’s fifty day moving average is $29.23 and its 200 day moving average is $27.68. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 10.89 and a beta of 0.94.

First Financial Bancorp. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. First Financial Bancorp.’s payout ratio is presently 35.34%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $34.00 target price on shares of First Financial Bancorp. in a research note on Monday, April 27th. Stephens assumed coverage on shares of First Financial Bancorp. in a research note on Friday, March 27th. They issued an “overweight” rating and a $33.00 target price on the stock. Truist Financial lifted their price target on shares of First Financial Bancorp. from $30.00 to $33.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Hovde Group lifted their price target on shares of First Financial Bancorp. from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, January 30th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Buying and Selling at First Financial Bancorp.

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

About First Financial Bancorp.

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.