Fisher Asset Management LLC Acquires 126,996 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Fisher Asset Management LLC increased its holdings in First Financial Bancorp. (NASDAQ:FFBC) by 17.6% during the 4th quarter, HoldingsChannel reports. The firm owned 849,678 shares of the bank’s stock after buying an additional 126,996 shares during the period. Fisher Asset Management LLC’s holdings in First Financial Bancorp. were worth $22,839,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in First Financial Bancorp. in the third quarter worth $30,000. ORG Partners LLC bought a new stake in First Financial Bancorp. in the fourth quarter worth $35,000. Allworth Financial LP bought a new stake in First Financial Bancorp. in the fourth quarter worth $44,000. Kentucky Trust Co bought a new stake in First Financial Bancorp. in the fourth quarter worth $76,000. Finally, KBC Group NV increased its position in First Financial Bancorp. by 82.8% in the fourth quarter. KBC Group NV now owns 5,150 shares of the bank’s stock worth $138,000 after purchasing an additional 2,333 shares during the last quarter. Institutional investors own 77.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $30.00 price target on shares of First Financial Bancorp. in a research report on Monday, January 27th. Keefe, Bruyette & Woods lifted their price objective on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Finally, Stephens reaffirmed an “overweight” rating and set a $33.00 price objective on shares of First Financial Bancorp. in a research note on Friday, January 24th.

First Financial Bancorp. Stock Down 1.0 %

NASDAQ FFBC opened at $27.14 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average of $27.49 and a two-hundred day moving average of $26.98. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 11.31 and a beta of 1.02. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 EPS for the quarter, topping 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%. On average, analysts predict that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, March 3rd. First Financial Bancorp.’s dividend payout ratio is currently 40.00%.

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.