Walthausen & Co. LLC acquired a new stake in shares of First Financial Bancorp (NASDAQ:FFBC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 374,014 shares of the bank’s stock, valued at approximately $11,108,000. Walthausen & Co. LLC owned approximately 0.38% of First Financial Bancorp at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new position in First Financial Bancorp during the second quarter valued at approximately $1,113,000. Bank of Montreal Can raised its position in First Financial Bancorp by 33.2% during the second quarter. Bank of Montreal Can now owns 7,481 shares of the bank’s stock valued at $230,000 after purchasing an additional 1,866 shares in the last quarter. Piedmont Investment Advisors LLC raised its position in First Financial Bancorp by 9.0% during the second quarter. Piedmont Investment Advisors LLC now owns 22,930 shares of the bank’s stock valued at $703,000 after purchasing an additional 1,893 shares in the last quarter. Bbva Compass Bancshares Inc. raised its position in First Financial Bancorp by 18.9% during the second quarter. Bbva Compass Bancshares Inc. now owns 16,339 shares of the bank’s stock valued at $501,000 after purchasing an additional 2,592 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in First Financial Bancorp by 13.0% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 23,372 shares of the bank’s stock valued at $694,000 after purchasing an additional 2,682 shares in the last quarter. Institutional investors and hedge funds own 72.68% of the company’s stock.
Several brokerages have commented on FFBC. Zacks Investment Research downgraded shares of First Financial Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. BidaskClub downgraded shares of First Financial Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, September 20th. Barclays lowered their price objective on shares of First Financial Bancorp from $31.00 to $29.00 and set an “underweight” rating for the company in a research report on Monday, October 22nd. Keefe, Bruyette & Woods upgraded shares of First Financial Bancorp from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $34.00 to $32.00 in a research report on Sunday, October 21st. Finally, ValuEngine downgraded shares of First Financial Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.38.
First Financial Bancorp (NASDAQ:FFBC) last announced its quarterly earnings results on Thursday, October 18th. The bank reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $152.80 million during the quarter, compared to the consensus estimate of $151.74 million. First Financial Bancorp had a net margin of 25.08% and a return on equity of 11.70%. The company’s revenue for the quarter was up 63.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. On average, sell-side analysts anticipate that First Financial Bancorp will post 2.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, November 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.92%. First Financial Bancorp’s dividend payout ratio (DPR) is presently 49.69%.
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First Financial Bancorp Company 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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