Trading Report: Today, First Financial Bancorp (FFBC) Stake Raised by Great West Life Assurance Co. Can

Today, First Financial Bancorp (FFBC) Stake Raised by Great West Life Assurance Co. Can

Great West Life Assurance Co. Can raised its stake in First Financial Bancorp (NASDAQ:FFBC) by 2.9% during the third quarter, Holdings Channel reports. The fund owned 82,785 shares of the company’s stock after buying an additional 2,330 shares during the period. Great West Life Assurance Co. Can’s holdings in First Financial Bancorp were worth $1,806,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. boosted its position in shares of First Financial Bancorp by 7.5% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,812,725 shares of the company’s stock valued at $61,430,000 after buying an additional 196,525 shares during the last quarter. 1st Global Advisors Inc. boosted its position in shares of First Financial Bancorp by 0.7% in the third quarter. 1st Global Advisors Inc. now owns 11,253 shares of the company’s stock valued at $246,000 after buying an additional 83 shares during the last quarter. Osborn Rohs Williams & Donohoe Ltd boosted its position in shares of First Financial Bancorp by 242.9% in the third quarter. Osborn Rohs Williams & Donohoe Ltd now owns 117,551 shares of the company’s stock valued at $2,567,000 after buying an additional 83,266 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of First Financial Bancorp by 1.2% in the third quarter. Capstone Asset Management Co. now owns 15,989 shares of the company’s stock valued at $349,000 after buying an additional 190 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of First Financial Bancorp by 3.4% in the second quarter. Macquarie Group Ltd. now owns 2,480,615 shares of the company’s stock valued at $48,248,000 after buying an additional 82,471 shares during the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.

Shares of First Financial Bancorp (NASDAQ:FFBC) traded down 0.37% during trading on Monday, hitting $26.60. 385,184 shares of the stock traded hands. First Financial Bancorp has a 1-year low of $13.76 and a 1-year high of $27.15. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 19.42 and a beta of 1.07. The stock has a 50 day moving average price of $22.84 and a 200-day moving average price of $21.20.

First Financial Bancorp (NASDAQ:FFBC) last posted its quarterly earnings results on Thursday, October 20th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. First Financial Bancorp had a net margin of 23.05% and a return on equity of 10.17%. During the same period in the prior year, the company posted $0.30 earnings per share. Equities analysts forecast that First Financial Bancorp will post $1.42 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 2nd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.39%. The ex-dividend date is Wednesday, November 30th. First Financial Bancorp’s payout ratio is currently 46.72%.

Several brokerages recently commented on FFBC. Zacks Investment Research upgraded shares of First Financial Bancorp from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Wednesday, October 12th. Barclays PLC increased their target price on shares of First Financial Bancorp from $20.00 to $22.00 and gave the stock an “underweight” rating in a report on Tuesday, October 11th. Raymond James Financial Inc. lowered shares of First Financial Bancorp from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 6th. Finally, Piper Jaffray Cos. assumed coverage on shares of First Financial Bancorp in a research report on Thursday, October 6th. They set a “neutral” rating and a $23.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.81.

In related news, Director William J. Kramer sold 2,700 shares of First Financial Bancorp stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $21.60, for a total value of $58,320.00. Following the completion of the sale, the director now owns 4,314 shares of the company’s stock, valued at approximately $93,182.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Claude E. Davis sold 41,020 shares of First Financial Bancorp stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $22.33, for a total transaction of $915,976.60. Following the completion of the sale, the chief executive officer now directly owns 260,845 shares of the company’s stock, valued at approximately $5,824,668.85. The disclosure for this sale can be found here. 2.19% of the stock is currently owned by corporate insiders.

About First Financial Bancorp

First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.

Related posts

Leave a Comment