Sapient Capital LLC Purchases New Shares in First Financial Bancorp. (NASDAQ:FFBC)

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

Several other hedge funds have also modified their holdings of FFBC. Blue Trust Inc. increased its position in shares of First Financial Bancorp. by 23.3% in the fourth quarter. Blue Trust Inc. now owns 2,993 shares of the bank’s stock valued at $71,000 after buying an additional 566 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of 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 valued at $562,000 after purchasing an additional 569 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of 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 worth $121,000 after purchasing an additional 1,028 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of First Financial Bancorp. by 3.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 45,389 shares of the bank’s stock worth $890,000 after purchasing an additional 1,622 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in First Financial Bancorp. by 4.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,416 shares of the bank’s stock valued at $1,007,000 after buying an additional 1,797 shares in the last quarter. 77.23% of the stock is owned by hedge funds and other institutional investors.

First Financial Bancorp. Stock Performance

Shares of First Financial Bancorp. stock opened at $23.33 on Wednesday. The business’s fifty day simple moving average is $21.89 and its 200-day simple moving average is $21.83. 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 firm has a market cap of $2.23 billion, a PE ratio of 9.41 and a beta of 1.04. First Financial Bancorp. has a 52 week low of $17.23 and a 52 week high of $24.99.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings results on Friday, April 26th. The bank reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. The company had revenue of $287.20 million for the quarter, compared to analysts’ expectations of $201.79 million. First Financial Bancorp. had a return on equity of 11.22% and a net margin of 20.74%. During the same period in the prior year, the firm earned $0.76 earnings per share. Equities analysts forecast that First Financial Bancorp. will post 2.34 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, June 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.94%. First Financial Bancorp.’s dividend payout ratio is currently 37.10%.

Analyst Ratings Changes

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

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.