Two Sigma Investments LP trimmed its stake in First Financial Bank (NASDAQ:FFBC) by 58.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,809 shares of the bank’s stock after selling 110,622 shares during the period. Two Sigma Investments LP’s holdings in First Financial Bank were worth $2,050,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of First Financial Bank in the 3rd quarter worth $125,000. Trustcore Financial Services LLC acquired a new position in First Financial Bank during the 4th quarter valued at about $146,000. Bedel Financial Consulting Inc. acquired a new position in First Financial Bank during the 4th quarter valued at about $249,000. Crossmark Global Holdings Inc. acquired a new position in First Financial Bank during the 3rd quarter valued at about $250,000. Finally, Cubist Systematic Strategies LLC acquired a new position in First Financial Bank during the 3rd quarter valued at about $269,000. 80.13% of the stock is owned by hedge funds and other institutional investors.
First Financial Bank stock opened at $29.35 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.93. The stock has a market cap of $1,822.43, a price-to-earnings ratio of 17.79, a PEG ratio of 1.39 and a beta of 1.19. First Financial Bank has a fifty-two week low of $22.80 and a fifty-two week high of $29.65.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.59%. The ex-dividend date was Wednesday, February 28th. This is an increase from First Financial Bank’s previous quarterly dividend of $0.17. First Financial Bank’s payout ratio is presently 47.20%.
Several research analysts recently issued reports on FFBC shares. BidaskClub lowered First Financial Bank from a “buy” rating to a “hold” rating in a research report on Saturday, December 16th. Barclays upped their target price on First Financial Bank from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Tuesday, January 2nd. Hilliard Lyons raised First Financial Bank from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Monday, January 22nd. FIG Partners raised First Financial Bank from a “market perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a research report on Friday, February 9th. Finally, ValuEngine raised First Financial Bank from a “hold” rating to a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $29.89.
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First Financial Bank 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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