Stifel Financial Corp Trims Stock Holdings in First Financial Bancorp. (NASDAQ:FFBC)

Stifel Financial Corp reduced its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC) by 2.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,837 shares of the bank’s stock after selling 676 shares during the quarter. Stifel Financial Corp’s holdings in First Financial Bancorp. were worth $702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in FFBC. American Century Companies Inc. lifted its stake in First Financial Bancorp. by 94.0% in the 2nd quarter. American Century Companies Inc. now owns 338,711 shares of the bank’s stock worth $7,526,000 after purchasing an additional 164,105 shares in the last quarter. Millennium Management LLC boosted its stake in First Financial Bancorp. by 162.4% during the second quarter. Millennium Management LLC now owns 242,187 shares of the bank’s stock valued at $5,381,000 after buying an additional 149,896 shares during the period. Edgestream Partners L.P. bought a new stake in First Financial Bancorp. during the third quarter valued at $2,792,000. Denali Advisors LLC grew its position in First Financial Bancorp. by 41.1% during the second quarter. Denali Advisors LLC now owns 302,700 shares of the bank’s stock worth $6,726,000 after buying an additional 88,100 shares in the last quarter. Finally, Choreo LLC increased its stake in First Financial Bancorp. by 176.3% in the 2nd quarter. Choreo LLC now owns 127,326 shares of the bank’s stock worth $2,820,000 after acquiring an additional 81,245 shares during the last quarter. 77.23% of the stock is owned by institutional investors.

First Financial Bancorp. Stock Up 0.6 %

FFBC opened at $27.40 on Thursday. The business’s fifty day simple moving average is $27.95 and its 200 day simple moving average is $25.65. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.45. The stock has a market cap of $2.62 billion, a PE ratio of 11.81 and a beta of 1.01.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $302.82 million for the quarter, compared to analyst estimates of $214.00 million. First Financial Bancorp. had a return on equity of 10.32% and a net margin of 18.55%. During the same period in the prior year, the company earned $0.67 EPS. As a group, research analysts expect that First Financial Bancorp. will post 2.53 earnings per share for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Monday, December 2nd. First Financial Bancorp.’s payout ratio is currently 41.38%.

Insiders Place Their Bets

In other news, insider James R. Shank sold 3,700 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $26.34, for a total value of $97,458.00. Following the completion of the sale, the insider now owns 15,374 shares of the company’s stock, valued at approximately $404,951.16. The trade was a 19.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard S. Dennen sold 4,068 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $30.01, for a total value of $122,080.68. Following the sale, the insider now owns 70,652 shares of the company’s stock, valued at $2,120,266.52. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,700 shares of company stock valued at $335,429. 2.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on FFBC shares. Stephens upgraded First Financial Bancorp. from an “equal weight” rating to an “overweight” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods raised their target price on shares of First Financial Bancorp. from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

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.