Intech Investment Management LLC Buys 22,380 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Intech Investment Management LLC increased its stake in First Financial Bancorp. (NASDAQ:FFBC) by 104.2% in the fourth quarter, HoldingsChannel reports. The fund owned 43,850 shares of the bank’s stock after purchasing an additional 22,380 shares during the period. Intech Investment Management LLC’s holdings in First Financial Bancorp. were worth $1,179,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FFBC. Raymond James Financial Inc. bought a new stake in shares of First Financial Bancorp. in the 4th quarter valued at about $8,961,000. Fisher Asset Management LLC raised its position in First Financial Bancorp. by 17.6% during the 4th quarter. Fisher Asset Management LLC now owns 849,678 shares of the bank’s stock valued at $22,839,000 after purchasing an additional 126,996 shares during the last quarter. Barclays PLC raised its position in First Financial Bancorp. by 140.1% during the 3rd quarter. Barclays PLC now owns 190,742 shares of the bank’s stock valued at $4,812,000 after purchasing an additional 111,309 shares during the last quarter. Edgestream Partners L.P. bought a new position in First Financial Bancorp. during the 3rd quarter valued at approximately $2,792,000. Finally, Segall Bryant & Hamill LLC bought a new position in First Financial Bancorp. during the 3rd quarter valued at approximately $2,013,000. Institutional investors own 77.23% of the company’s stock.

First Financial Bancorp. Price Performance

Shares of NASDAQ:FFBC opened at $24.75 on Friday. First Financial Bancorp. has a 52-week low of $20.59 and a 52-week high of $31.18. The firm has a market capitalization of $2.36 billion, a P/E ratio of 10.31 and a beta of 0.99. The stock has a 50 day moving average price of $26.98 and a 200-day moving average price of $26.87. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90.

First Financial Bancorp. (NASDAQ:FFBC) last announced its earnings results on Thursday, January 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. As a group, equities research analysts anticipate that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.24 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.96 annualized dividend and a dividend yield of 3.88%. First Financial Bancorp.’s payout ratio is currently 40.00%.

Analyst Ratings Changes

A number of research firms have commented on FFBC. Stephens reaffirmed an “overweight” rating and set a $33.00 price target on shares of First Financial Bancorp. in a research report on Friday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $30.00 price target on shares of First Financial Bancorp. in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their price target on First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a research report on Monday, January 27th.

Insider Buying and Selling

In related news, insider James R. Shank sold 7,600 shares of the company’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 sale, the insider now owns 11,141 shares in the company, valued at $277,633.72. This represents a 40.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.04% of the stock is currently owned by company 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.