Geode Capital Management LLC Acquires 34,977 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Geode Capital Management LLC raised its stake in shares of First Financial Bancorp. (NASDAQ:FFBC) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,271,990 shares of the bank’s stock after buying an additional 34,977 shares during the period. Geode Capital Management LLC’s holdings in First Financial Bancorp. were worth $57,333,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in shares of First Financial Bancorp. in the 3rd quarter valued at approximately $28,000. Point72 DIFC Ltd acquired a new position in First Financial Bancorp. during the third quarter valued at approximately $30,000. Bogart Wealth LLC raised its position in shares of First Financial Bancorp. by 2,976.9% in the third quarter. Bogart Wealth LLC now owns 2,000 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,935 shares during the period. Innealta Capital LLC acquired a new stake in shares of First Financial Bancorp. in the second quarter worth $77,000. Finally, nVerses Capital LLC bought a new stake in shares of First Financial Bancorp. during the 2nd quarter worth $96,000. Institutional investors and hedge funds own 77.23% of the company’s stock.

First Financial Bancorp. Trading Up 1.8 %

Shares of FFBC stock opened at $27.31 on Monday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 11.77 and a beta of 1.01. First Financial Bancorp. has a 1 year low of $20.59 and a 1 year high of $31.18. The firm’s fifty day simple moving average is $27.86 and its 200 day simple moving average is $25.53. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. First Financial Bancorp. had a net margin of 18.55% and a return on equity of 10.32%. The company had revenue of $302.82 million for the quarter, compared to the consensus estimate of $214.00 million. During the same quarter in the previous year, the firm posted $0.67 EPS. As a group, sell-side analysts predict that First Financial Bancorp. will post 2.53 EPS for the current year.

First Financial Bancorp. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.52%. First Financial Bancorp.’s dividend payout ratio is currently 41.38%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FFBC shares. Keefe, Bruyette & Woods lifted their target price on shares of First Financial Bancorp. from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Stephens raised First Financial Bancorp. from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th.

Insider Transactions at First Financial Bancorp.

In other news, insider Richard S. Dennen sold 932 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $30.00, for a total value of $27,960.00. Following the completion of the transaction, the insider now owns 74,720 shares in the company, valued at approximately $2,241,600. This represents a 1.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott T. Crawley sold 3,000 shares of First Financial Bancorp. stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $29.31, for a total transaction of $87,930.00. Following the sale, the insider now owns 19,279 shares in the company, valued at approximately $565,067.49. This trade represents a 13.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,700 shares of company stock valued at $335,429. 2.04% of the stock is owned by corporate 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.