6,800 Shares in First Financial Bancorp (FFBC) Acquired by Park National Corp OH

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Park National Corp OH acquired a new position in First Financial Bancorp (NASDAQ:FFBC) during the 2nd quarter, Holdings Channel reports. The fund acquired 6,800 shares of the bank’s stock, valued at approximately $208,000.

Several other institutional investors have also added to or reduced their stakes in FFBC. SG Americas Securities LLC purchased a new position in First Financial Bancorp in the 1st quarter valued at about $120,000. CIBC Asset Management Inc purchased a new position in First Financial Bancorp in the 1st quarter valued at about $207,000. Xact Kapitalforvaltning AB purchased a new position in First Financial Bancorp in the 4th quarter valued at about $237,000. Allianz Asset Management GmbH purchased a new position in First Financial Bancorp in the 1st quarter valued at about $243,000. Finally, LPL Financial LLC purchased a new position in First Financial Bancorp in the 1st quarter valued at about $287,000. Institutional investors and hedge funds own 80.55% of the company’s stock.

A number of research firms have issued reports on FFBC. Zacks Investment Research upgraded shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded shares of First Financial Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. Piper Jaffray Companies restated a “neutral” rating on shares of First Financial Bancorp in a report on Monday, April 23rd. FIG Partners downgraded shares of First Financial Bancorp from an “outperform” rating to a “hold” rating in a research note on Tuesday, May 15th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of First Financial Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, June 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.33.

In related news, Director John T. Neighbours sold 850 shares of the stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $32.50, for a total transaction of $27,625.00. Following the completion of the sale, the director now owns 8,026 shares of the company’s stock, valued at approximately $260,845. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Claude E. Davis sold 35,000 shares of the stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $32.23, for a total transaction of $1,128,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,229 shares of company stock valued at $1,841,705. Corporate insiders own 3.36% of the company’s stock.

NASDAQ FFBC opened at $31.10 on Thursday. First Financial Bancorp has a 12 month low of $22.80 and a 12 month high of $33.70. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $3.04 billion, a PE ratio of 17.47, a P/E/G ratio of 1.43 and a beta of 1.10.

First Financial Bancorp (NASDAQ:FFBC) last posted its quarterly earnings data on Thursday, April 19th. The bank reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. First Financial Bancorp had a net margin of 26.91% and a return on equity of 12.18%. The company had revenue of $92.75 million during the quarter, compared to the consensus estimate of $93.03 million. During the same quarter in the prior year, the company posted ($0.17) EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. analysts expect that First Financial Bancorp will post 2.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Thursday, May 31st. First Financial Bancorp’s dividend payout ratio is currently 47.20%.

First Financial Bancorp Profile

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and other banking, and banking-related services to individuals and businesses in Ohio, Indiana, and Kentucky. The company accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers.

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

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