QRG Capital Management Inc. Boosts Stake in First Financial Bancorp. (NASDAQ:FFBC)

QRG Capital Management Inc. raised its position in shares of First Financial Bancorp. (NASDAQ:FFBC) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,505 shares of the bank’s stock after buying an additional 1,537 shares during the quarter. QRG Capital Management Inc.’s holdings in First Financial Bancorp. were worth $1,008,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FFBC. Ieq Capital LLC bought a new position in shares of First Financial Bancorp. during the 4th quarter valued at approximately $228,000. Principal Financial Group Inc. lifted its position in First Financial Bancorp. by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 511,868 shares of the bank’s stock valued at $13,759,000 after purchasing an additional 20,636 shares during the last quarter. Allworth Financial LP purchased a new position in shares of First Financial Bancorp. in the 4th quarter worth $44,000. Kentucky Trust Co bought a new stake in shares of First Financial Bancorp. in the 4th quarter worth about $76,000. Finally, Empowered Funds LLC raised its position in shares of First Financial Bancorp. by 5.1% during the 4th quarter. Empowered Funds LLC now owns 308,749 shares of the bank’s stock valued at $8,299,000 after buying an additional 15,037 shares in the last quarter. Institutional investors own 77.23% of the company’s stock.

First Financial Bancorp. Stock Performance

Shares of NASDAQ:FFBC opened at $27.14 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.40. First Financial Bancorp. has a 12 month low of $20.59 and a 12 month high of $31.18. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 11.31 and a beta of 1.02. The firm’s 50-day moving average is $27.49 and its 200 day moving average is $26.98.

First Financial Bancorp. (NASDAQ:FFBC) last released its earnings results on Thursday, January 23rd. The bank reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. Research analysts predict that First Financial Bancorp. will post 2.64 EPS for the current year.

First Financial Bancorp. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.96 annualized dividend and a dividend yield of 3.54%. First Financial Bancorp.’s dividend payout ratio (DPR) is 40.00%.

Wall Street Analysts Forecast Growth

FFBC has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their price target on First Financial Bancorp. from $31.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $30.00 price objective on shares of First Financial Bancorp. in a research note on Monday, January 27th. Finally, Stephens reiterated an “overweight” rating and issued a $33.00 target price on shares of First Financial Bancorp. in a report on Friday, January 24th.

First Financial Bancorp. 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.