Victory Capital Management Inc. Has $7.79 Million Position in First Financial Bancorp. (NASDAQ:FFBC)

Victory Capital Management Inc. trimmed its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC) by 9.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 308,662 shares of the bank’s stock after selling 30,829 shares during the quarter. Victory Capital Management Inc.’s holdings in First Financial Bancorp. were worth $7,788,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FFBC. Financial Management Professionals Inc. acquired a new position in First Financial Bancorp. during the third quarter valued at approximately $28,000. EntryPoint Capital LLC increased its position in First Financial Bancorp. by 63.9% in the 1st quarter. EntryPoint Capital LLC now owns 1,732 shares of the bank’s stock worth $39,000 after buying an additional 675 shares during the period. Bogart Wealth LLC lifted its holdings in shares of First Financial Bancorp. by 2,976.9% during the third quarter. Bogart Wealth LLC now owns 2,000 shares of the bank’s stock worth $50,000 after buying an additional 1,935 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of First Financial Bancorp. by 23.1% during the 2nd quarter. Blue Trust Inc. now owns 3,340 shares of the bank’s stock worth $75,000 after purchasing an additional 627 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of First Financial Bancorp. during the second quarter valued at about $77,000. 77.23% of the stock is currently owned by institutional investors.

First Financial Bancorp. Trading Up 2.4 %

Shares of First Financial Bancorp. stock opened at $29.36 on Friday. First Financial Bancorp. has a 12-month low of $19.92 and a 12-month high of $30.11. The stock has a market capitalization of $2.80 billion, a P/E ratio of 12.66 and a beta of 0.99. The company has a 50-day simple moving average of $26.14 and a 200 day simple moving average of $24.63. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.45.

First Financial Bancorp. (NASDAQ:FFBC) last posted its earnings results on Thursday, October 24th. The bank reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $302.82 million during the quarter, compared to analysts’ expectations of $214.00 million. First Financial Bancorp. had a net margin of 18.55% and a return on equity of 10.32%. During the same quarter in the previous year, the company posted $0.67 earnings per share. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 3.27%. First Financial Bancorp.’s payout ratio is 41.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada lifted 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 target price on First Financial Bancorp. from $25.00 to $27.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Insiders Place Their Bets

In other news, insider James R. Shank sold 3,700 shares of the company’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 directly owns 15,374 shares of the company’s stock, valued at $404,951.16. This represents a 19.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Richard S. Dennen sold 932 shares of First Financial Bancorp. stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $30.00, for a total transaction of $27,960.00. Following the transaction, the insider now directly owns 74,720 shares in the company, valued at $2,241,600. The trade was a 1.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 36,632 shares of company stock valued at $984,748. 2.04% of the stock is currently 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.