Thrivent Financial for Lutherans Cuts Stake in First Financial Bancorp. (NASDAQ:FFBC)

Thrivent Financial for Lutherans lessened its holdings in First Financial Bancorp. (NASDAQ:FFBC – Free Report) by 16.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 128,798 shares of the bank’s stock after selling 24,483 shares during the quarter. Thrivent Financial for Lutherans’ holdings in First Financial Bancorp. were worth $3,462,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cibc World Markets Corp purchased a new position in First Financial Bancorp. in the fourth quarter valued at $238,000. Royce & Associates LP boosted its stake in shares of First Financial Bancorp. by 26.1% in the 4th quarter. Royce & Associates LP now owns 101,922 shares of the bank’s stock valued at $2,740,000 after buying an additional 21,069 shares during the period. Natixis Advisors LLC grew its position in shares of First Financial Bancorp. by 52.6% during the fourth quarter. Natixis Advisors LLC now owns 44,045 shares of the bank’s stock worth $1,184,000 after buying an additional 15,183 shares in the last quarter. Picton Mahoney Asset Management increased its stake in shares of First Financial Bancorp. by 32.1% during the fourth quarter. Picton Mahoney Asset Management now owns 20,804 shares of the bank’s stock worth $559,000 after buying an additional 5,053 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in First Financial Bancorp. by 3.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,269 shares of the bank’s stock valued at $330,000 after acquiring an additional 453 shares in the last quarter. Institutional investors and hedge funds own 77.23% of the company’s stock.

Insider Buying and Selling

In other news, insider James R. Shank sold 7,600 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total value of $189,392.00. Following the completion of the sale, the insider now directly owns 11,141 shares of the company’s stock, valued at approximately $277,633.72. This represents a 40.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on FFBC shares. Stephens reiterated an “overweight” rating and set a $33.00 price target on shares of First Financial Bancorp. in a report on Friday, January 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $30.00 target price on shares of First Financial Bancorp. in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised their price target on First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a research note on Monday, January 27th.

Check Out Our Latest Stock Analysis on First Financial Bancorp.

First Financial Bancorp. Stock Performance

Shares of First Financial Bancorp. stock opened at $25.32 on Thursday. The firm has a market capitalization of $2.42 billion, a P/E ratio of 10.55 and a beta of 0.99. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18. The firm’s 50 day moving average is $26.88 and its two-hundred day moving average is $26.87.

First Financial Bancorp. (NASDAQ:FFBC – Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.71 EPS for the quarter, topping the consensus estimate of $0.65 by $0.06. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. Research analysts forecast that First Financial Bancorp. will post 2.64 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.24 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.79%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 40.00%.

First Financial Bancorp. Company Profile

(Free Report)

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.

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