State of New Jersey Common Pension Fund D Sells 41,540 Shares of First Financial Bancorp. (NASDAQ:FFBC)

State of New Jersey Common Pension Fund D decreased its position in shares of First Financial Bancorp. (NASDAQ:FFBC) by 32.4% during the second quarter, Holdings Channel.com reports. The fund owned 86,767 shares of the bank’s stock after selling 41,540 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in First Financial Bancorp. were worth $1,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of First Financial Bancorp. in the fourth quarter worth $15,348,000. Hsbc Holdings PLC boosted its holdings in First Financial Bancorp. by 2,655.1% in the 4th quarter. Hsbc Holdings PLC now owns 518,061 shares of the bank’s stock worth $12,360,000 after buying an additional 499,257 shares during the period. TFO Wealth Partners LLC increased its stake in First Financial Bancorp. by 6,820.5% in the 4th quarter. TFO Wealth Partners LLC now owns 3,045 shares of the bank’s stock worth $72,000 after buying an additional 3,001 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in First Financial Bancorp. during the fourth quarter valued at about $652,000. Finally, Rafferty Asset Management LLC lifted its position in shares of First Financial Bancorp. by 60.0% in the fourth quarter. Rafferty Asset Management LLC now owns 73,270 shares of the bank’s stock valued at $1,740,000 after acquiring an additional 27,479 shares in the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

First Financial Bancorp. Stock Down 2.5 %

Shares of FFBC stock opened at $25.45 on Friday. The stock has a market cap of $2.43 billion, a P/E ratio of 10.26 and a beta of 0.99. The company’s fifty day simple moving average is $25.64 and its two-hundred day simple moving average is $23.30. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. First Financial Bancorp. has a 52 week low of $17.23 and a 52 week high of $28.25.

First Financial Bancorp. (NASDAQ:FFBC) last posted its earnings results on Thursday, July 25th. The bank reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $314.22 million for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.72 earnings per share. Analysts predict 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 was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a dividend of $0.24 per share. This is an increase from First Financial Bancorp.’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date was Friday, August 30th. First Financial Bancorp.’s dividend payout ratio is currently 38.71%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada increased 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. Keefe, Bruyette & Woods upped their price target on First Financial Bancorp. from $25.00 to $27.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Insider Activity at First Financial Bancorp.

In related news, insider Claude E. Davis sold 29,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $26.60, for a total transaction of $771,400.00. Following the sale, the insider now owns 53,576 shares of the company’s stock, valued at $1,425,121.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.04% of the stock is currently owned by 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.