Vaughan Nelson Investment Management L.P. purchased a new stake in shares of First Financial Bancorp. (NASDAQ:FFBC – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,221,590 shares of the bank’s stock, valued at approximately $34,058,000. Vaughan Nelson Investment Management L.P. owned approximately 1.17% of First Financial Bancorp. at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FFBC. Rockefeller Capital Management L.P. increased its stake in First Financial Bancorp. by 137.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 991 shares of the bank’s stock valued at $25,000 after buying an additional 574 shares during the last quarter. First Horizon Corp boosted its stake in shares of First Financial Bancorp. by 56.0% in the 4th quarter. First Horizon Corp now owns 1,526 shares of the bank’s stock worth $38,000 after buying an additional 548 shares during the last quarter. MAI Capital Management boosted its stake in shares of First Financial Bancorp. by 530.6% in the 3rd quarter. MAI Capital Management now owns 1,545 shares of the bank’s stock worth $39,000 after buying an additional 1,300 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of First Financial Bancorp. by 38.7% in the fourth quarter. Hantz Financial Services Inc. now owns 1,743 shares of the bank’s stock valued at $44,000 after acquiring an additional 486 shares in the last quarter. Finally, Smithfield Trust Co bought a new position in shares of First Financial Bancorp. in the fourth quarter valued at approximately $50,000. 77.23% of the stock is currently owned by hedge funds and other institutional investors.
First Financial Bancorp. Stock Up 1.0%
First Financial Bancorp. stock opened at $31.94 on Tuesday. The firm has a 50 day moving average price of $30.47 and a 200-day moving average price of $28.55. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.32. First Financial Bancorp. has a twelve month low of $22.98 and a twelve month high of $32.66. The company has a market capitalization of $3.35 billion, a P/E ratio of 11.29 and a beta of 0.93.
First Financial Bancorp. Announces Dividend
Analyst Upgrades and Downgrades
A number of analysts recently commented on FFBC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Financial Bancorp. in a research report on Monday, June 8th. Royal Bank Of Canada boosted their price objective on First Financial Bancorp. from $30.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Monday, April 27th. Raymond James Financial restated an “outperform” rating and issued a $34.00 price objective on shares of First Financial Bancorp. in a research note on Monday, April 27th. Wall Street Zen raised First Financial Bancorp. from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Stephens initiated coverage on First Financial Bancorp. in a research note on Friday, March 27th. They set an “overweight” rating and a $33.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.00.
Insiders Place Their Bets
In other news, CFO James M. Anderson sold 4,263 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $30.00, for a total transaction of $127,890.00. Following the completion of the transaction, the chief financial officer owned 118,537 shares in the company, valued at approximately $3,556,110. This represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Claude E. Davis sold 26,123 shares of First Financial Bancorp. stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $30.45, for a total value of $795,445.35. Following the completion of the sale, the insider directly owned 30,410 shares of the company’s stock, valued at approximately $925,984.50. This trade represents a 46.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,126 shares of company stock valued at $1,255,501 over the last ninety days. 1.08% of the stock is currently owned by insiders.
First Financial Bancorp. Profile
First Financial Bancorp (NASDAQ: FFBC) is a bank holding company headquartered in Cincinnati, Ohio, and the parent of First Financial Bank. The company provides a comprehensive suite of commercial and consumer banking services through a network of more than 100 full-service banking centers and mortgage offices across Ohio, Indiana and Kentucky. Its core mission centers on delivering personalized relationship banking to businesses, individuals and public sector clients.
First Financial Bank’s product portfolio includes deposit solutions such as checking, savings and money market accounts, alongside a range of lending offerings that cover commercial and industrial loans, real estate and construction financing, home mortgages and home equity lines of credit.
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