First Financial Bancorp. (NASDAQ:FFBC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of First Financial Bancorp. (NASDAQ:FFBC) by 25.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 339,491 shares of the bank’s stock after selling 113,416 shares during the quarter. Victory Capital Management Inc. owned 0.36% of First Financial Bancorp. worth $7,543,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC acquired a new stake in shares of First Financial Bancorp. in the 2nd quarter valued at approximately $1,050,000. nVerses Capital LLC acquired a new stake in First Financial Bancorp. in the second quarter valued at $96,000. Picton Mahoney Asset Management purchased a new stake in shares of First Financial Bancorp. during the 2nd quarter worth $169,000. Innealta Capital LLC acquired a new position in shares of First Financial Bancorp. during the 2nd quarter worth $77,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of First Financial Bancorp. by 39.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,310 shares of the bank’s stock valued at $562,000 after purchasing an additional 7,112 shares in the last quarter. 77.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FFBC shares. Keefe, Bruyette & Woods upped their target price on shares of First Financial Bancorp. from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their target price on First Financial Bancorp. from $25.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th.

First Financial Bancorp. Stock Up 2.1 %

Shares of NASDAQ FFBC opened at $25.14 on Monday. The firm’s 50-day moving average is $25.35 and its two-hundred day moving average is $23.18. The company has a market capitalization of $2.40 billion, a PE ratio of 10.14 and a beta of 0.99. First Financial Bancorp. has a 12-month low of $17.23 and a 12-month high of $28.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.93.

First Financial Bancorp. (NASDAQ:FFBC) last announced its earnings results on Thursday, July 25th. The bank reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $314.22 million for the quarter, compared to analysts’ expectations of $203.50 million. First Financial Bancorp. had a return on equity of 10.69% and a net margin of 19.67%. During the same quarter in the prior year, the firm earned $0.72 EPS. Equities analysts anticipate that First Financial Bancorp. will post 2.58 EPS for the current fiscal year.

First Financial Bancorp. Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be paid a $0.24 dividend. This is an increase from First Financial Bancorp.’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.96 annualized dividend and a yield of 3.82%. First Financial Bancorp.’s payout ratio is presently 38.71%.

Insider Buying and Selling at First Financial Bancorp.

In other news, insider Claude E. Davis sold 29,000 shares of First Financial Bancorp. stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $26.60, for a total transaction of $771,400.00. Following the completion of the sale, the insider now directly owns 53,576 shares in the company, valued at $1,425,121.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.04% of the stock is owned by insiders.

About First Financial Bancorp.

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.