Bayview Asset Management LLC Invests $1.50 Million in First Financial Bancorp. $FFBC

Bayview Asset Management LLC bought a new position in shares of First Financial Bancorp. (NASDAQ:FFBC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 60,000 shares of the bank’s stock, valued at approximately $1,501,000. First Financial Bancorp. makes up about 0.3% of Bayview Asset Management LLC’s holdings, making the stock its 12th biggest position. Bayview Asset Management LLC owned about 0.06% of First Financial Bancorp. as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CenterBook Partners LP bought a new stake in shares of First Financial Bancorp. during the 3rd quarter worth $1,504,000. International Assets Investment Management LLC acquired a new position in First Financial Bancorp. during the fourth quarter worth about $936,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of First Financial Bancorp. by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,309,205 shares of the bank’s stock worth $32,756,000 after acquiring an additional 42,116 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of First Financial Bancorp. by 174.7% in the 4th quarter. SG Americas Securities LLC now owns 72,244 shares of the bank’s stock valued at $1,808,000 after purchasing an additional 45,943 shares in the last quarter. Finally, Bahl & Gaynor Inc. boosted its stake in shares of First Financial Bancorp. by 47.7% in the 3rd quarter. Bahl & Gaynor Inc. now owns 559,488 shares of the bank’s stock valued at $14,127,000 after purchasing an additional 180,575 shares in the last quarter. Institutional investors and hedge funds own 77.23% of the company’s stock.

First Financial Bancorp. Price Performance

FFBC stock opened at $32.30 on Friday. The company has a fifty day moving average price of $30.11 and a 200-day moving average price of $28.24. The company has a market capitalization of $3.39 billion, a P/E ratio of 11.41 and a beta of 0.93. First Financial Bancorp. has a 52-week low of $22.93 and a 52-week high of $32.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.84 and a current ratio of 0.84.

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 3.1%. The ex-dividend date is Monday, June 1st. First Financial Bancorp.’s payout ratio is 35.34%.

Insider Activity

In related news, insider Claude E. Davis sold 26,123 shares of the company’s stock in a transaction that occurred on 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 directly owned 30,410 shares in the company, valued at $925,984.50. This represents a 46.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James M. Anderson sold 4,263 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $30.00, for a total transaction of $127,890.00. Following the sale, the chief financial officer directly owned 118,537 shares of the company’s stock, valued at $3,556,110. This represents a 3.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 41,126 shares of company stock valued at $1,255,501. Company insiders own 1.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of First Financial Bancorp. from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Monday, April 27th. Stephens started coverage on shares of First Financial Bancorp. in a research note on Friday, March 27th. They set an “overweight” rating and a $33.00 target price on the stock. Wall Street Zen downgraded shares of First Financial Bancorp. from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings reiterated a “buy (b)” rating on shares of First Financial Bancorp. in a research note on Monday, June 8th. Finally, Raymond James Financial reissued an “outperform” rating and set a $34.00 price objective on shares of First Financial Bancorp. in a report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, First Financial Bancorp. has an average rating of “Moderate Buy” and a consensus price target of $33.00.

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.