Quantbot Technologies LP Invests $335,000 in First Financial Bancorp. (NASDAQ:FFBC)

Quantbot Technologies LP acquired a new position in shares of First Financial Bancorp. (NASDAQ:FFBC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,474 shares of the bank’s stock, valued at approximately $335,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its stake in First Financial Bancorp. by 4.3% during the third quarter. Principal Financial Group Inc. now owns 491,232 shares of the bank’s stock worth $12,394,000 after purchasing an additional 20,449 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in First Financial Bancorp. in the 4th quarter worth approximately $273,000. Geode Capital Management LLC lifted its position in First Financial Bancorp. by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,271,990 shares of the bank’s stock worth $57,333,000 after buying an additional 34,977 shares during the last quarter. Citigroup Inc. boosted its stake in First Financial Bancorp. by 25.2% in the third quarter. Citigroup Inc. now owns 166,170 shares of the bank’s stock worth $4,192,000 after buying an additional 33,464 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in First Financial Bancorp. during the third quarter valued at approximately $2,792,000. 77.23% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Bancorp. Stock Performance

Shares of FFBC stock opened at $24.80 on Friday. The company has a market capitalization of $2.37 billion, a P/E ratio of 10.33 and a beta of 0.99. First Financial Bancorp. has a fifty-two week low of $20.59 and a fifty-two week high of $31.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50 day moving average price of $26.78 and a two-hundred day moving average price of $26.85.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $0.71 earnings per share for the quarter, beating 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%. Analysts expect that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.24 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.96 annualized dividend and a dividend yield of 3.87%. First Financial Bancorp.’s payout ratio is presently 40.00%.

Analyst Ratings Changes

FFBC has been the subject of a number of research reports. Stephens reaffirmed an “overweight” rating and issued a $33.00 price objective on shares of First Financial Bancorp. in a research note on Friday, January 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $30.00 price target on shares of First Financial Bancorp. in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods raised their price objective 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.

Insider Activity at First Financial Bancorp.

In other First Financial Bancorp. 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 owns 11,141 shares in the company, valued at approximately $277,633.72. This trade represents a 40.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.04% of the stock is owned by company insiders.

First Financial Bancorp. Company Profile

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.