First Financial Bancorp. (NASDAQ:FFBC) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in First Financial Bancorp. (NASDAQ:FFBC) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,811 shares of the bank’s stock after buying an additional 2,489 shares during the period. State of Alaska Department of Revenue owned 0.07% of First Financial Bancorp. worth $1,634,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in First Financial Bancorp. by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 10,610,508 shares of the bank’s stock worth $250,726,000 after buying an additional 212,737 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in First Financial Bancorp. by 0.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,675,111 shares of the bank’s stock worth $134,103,000 after buying an additional 40,930 shares during the last quarter. State Street Corp boosted its stake in First Financial Bancorp. by 3.3% in the 2nd quarter. State Street Corp now owns 4,769,792 shares of the bank’s stock worth $112,710,000 after buying an additional 150,946 shares during the last quarter. Geode Capital Management LLC boosted its stake in First Financial Bancorp. by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,683,915 shares of the bank’s stock worth $39,790,000 after buying an additional 54,625 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in First Financial Bancorp. by 1.4% in the 2nd quarter. Northern Trust Corp now owns 1,428,632 shares of the bank’s stock worth $33,759,000 after buying an additional 19,420 shares during the last quarter. 73.82% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on FFBC shares. Zacks Investment Research upgraded First Financial Bancorp. from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Tuesday, October 26th. Royal Bank of Canada raised their price objective on First Financial Bancorp. from $25.00 to $26.00 and gave the stock a “sector perform” rating in a report on Monday, October 25th.

First Financial Bancorp. stock opened at $25.21 on Thursday. The stock has a 50-day moving average price of $23.85. The stock has a market cap of $2.36 billion, a P/E ratio of 11.89 and a beta of 1.15. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.19. First Financial Bancorp. has a 12 month low of $15.98 and a 12 month high of $26.62.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings data on Wednesday, October 20th. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.11. The company had revenue of $155.95 million for the quarter, compared to the consensus estimate of $152.05 million. First Financial Bancorp. had a return on equity of 9.56% and a net margin of 30.25%. During the same period last year, the business posted $0.44 EPS. Analysts expect that First Financial Bancorp. will post 2.27 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Wednesday, December 1st will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, November 30th. This represents a $0.92 annualized dividend and a dividend yield of 3.65%. First Financial Bancorp.’s payout ratio is currently 43.40%.

About First Financial Bancorp.

First Financial Bancorp operates a bank holding company. The firm operates through its wholly owned subsidiary, First Financial Bank, which engages in the provision of commercial banking, financial and other related activities. It operates through the following business lines: Commercial, Retail Banking, Mortgage Banking, Wealth Management, Investment Commercial Real Estate, and Commercial Finance.

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Institutional Ownership by Quarter for First Financial Bancorp. (NASDAQ:FFBC)

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