UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in First Financial Bancorp. (NASDAQ:FFBC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of First Financial Bancorp. (NASDAQ:FFBC) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,660 shares of the bank’s stock after acquiring an additional 2,820 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First Financial Bancorp. were worth $5,719,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FFBC. Blue Trust Inc. increased its holdings in shares of First Financial Bancorp. by 23.1% in the second 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. Hennion & Walsh Asset Management Inc. bought a new position in shares of First Financial Bancorp. in the second quarter worth $265,000. Fifth Third Bancorp increased its holdings in shares of First Financial Bancorp. by 10.4% in the second quarter. Fifth Third Bancorp now owns 28,414 shares of the bank’s stock worth $631,000 after purchasing an additional 2,687 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of First Financial Bancorp. by 1.9% in the second quarter. Louisiana State Employees Retirement System now owns 48,000 shares of the bank’s stock worth $1,067,000 after purchasing an additional 900 shares during the period. Finally, Saxony Capital Management LLC increased its holdings in shares of First Financial Bancorp. by 16.0% in the second quarter. Saxony Capital Management LLC now owns 18,802 shares of the bank’s stock worth $418,000 after purchasing an additional 2,596 shares during the period. Institutional investors own 77.23% of the company’s stock.

First Financial Bancorp. Stock Down 0.0 %

FFBC opened at $28.94 on Wednesday. The stock has a market cap of $2.76 billion, a PE ratio of 12.47 and a beta of 1.01. 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. has a 52 week low of $20.59 and a 52 week high of $31.18. The business’s fifty day simple moving average is $27.23 and its 200 day simple moving average is $25.20.

First Financial Bancorp. (NASDAQ:FFBC) last released its earnings results on Thursday, October 24th. The bank reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $302.82 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $0.67 earnings per share. 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. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.32%. First Financial Bancorp.’s dividend payout ratio (DPR) is currently 41.38%.

Wall Street Analysts Forecast Growth

FFBC has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their price target 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 note on Monday.

Insider Activity

In other news, insider Scott T. Crawley sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $29.31, for a total transaction of $87,930.00. Following the transaction, the insider now directly owns 19,279 shares of the company’s stock, valued at approximately $565,067.49. This trade represents a 13.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard S. Dennen sold 932 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $30.00, for a total value of $27,960.00. Following the transaction, the insider now directly owns 74,720 shares in the company, valued at $2,241,600. This trade represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,700 shares of company stock valued at $335,429. 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.