Sapient Capital LLC Takes Position in First Financial Bancorp. (NASDAQ:FFBC)

Sapient Capital LLC acquired a new position in shares of First Financial Bancorp. (NASDAQ:FFBC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,697 shares of the bank’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FFBC. Cambridge Investment Research Advisors Inc. increased its holdings in First Financial Bancorp. by 2.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 28,656 shares of the bank’s stock worth $562,000 after buying an additional 569 shares during the last quarter. Raymond James & Associates boosted its holdings in First Financial Bancorp. by 11.4% in the third quarter. Raymond James & Associates now owns 58,405 shares of the bank’s stock worth $1,145,000 after purchasing an additional 5,985 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in First Financial Bancorp. by 19.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,271 shares of the bank’s stock worth $358,000 after buying an additional 2,923 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in First Financial Bancorp. by 19.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,189 shares of the bank’s stock valued at $121,000 after buying an additional 1,028 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in shares of First Financial Bancorp. by 6.7% in the third quarter. Bahl & Gaynor Inc. now owns 573,241 shares of the bank’s stock worth $11,236,000 after buying an additional 35,764 shares during the last quarter. Hedge funds and other institutional investors own 77.23% of the company’s stock.

First Financial Bancorp. Price Performance

Shares of NASDAQ:FFBC opened at $23.33 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $21.89 and a 200 day moving average price of $21.83. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 9.41 and a beta of 1.04. First Financial Bancorp. has a twelve month low of $17.23 and a twelve month high of $24.99.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings data on Friday, April 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.59. The business had revenue of $287.20 million for the quarter, compared to the consensus estimate of $201.79 million. First Financial Bancorp. had a net margin of 20.74% and a return on equity of 11.22%. During the same quarter last year, the company posted $0.76 earnings per share. Research analysts predict that First Financial Bancorp. will post 2.34 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, June 3rd. First Financial Bancorp.’s payout ratio is presently 37.10%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FFBC shares. Piper Sandler assumed coverage on First Financial Bancorp. in a research note on Friday, February 23rd. They issued an “overweight” rating and a $26.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price objective on shares of First Financial Bancorp. in a report on Tuesday, April 9th.

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.