Teacher Retirement System of Texas Has $2.35 Million Stake in First Financial Bancorp. (NASDAQ:FFBC)

Teacher Retirement System of Texas grew its stake in First Financial Bancorp. (NASDAQ:FFBC) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,345 shares of the bank’s stock after purchasing an additional 4,781 shares during the period. Teacher Retirement System of Texas’ holdings in First Financial Bancorp. were worth $2,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new stake in First Financial Bancorp. in the third quarter valued at approximately $30,000. ORG Partners LLC acquired a new stake in shares of First Financial Bancorp. during the 4th quarter valued at $35,000. Allworth Financial LP bought a new stake in First Financial Bancorp. during the 4th quarter worth $44,000. Smartleaf Asset Management LLC increased its stake in shares of First Financial Bancorp. by 221.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank’s stock valued at $73,000 after buying an additional 1,873 shares during the period. Finally, Kentucky Trust Co acquired a new position in First Financial Bancorp. in the 4th quarter valued at approximately $76,000. 77.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

First Financial Bancorp. Price Performance

FFBC stock opened at $25.32 on Thursday. 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 firm has a market cap of $2.42 billion, a price-to-earnings ratio of 10.55 and a beta of 0.99. The company’s fifty day simple moving average is $26.88 and its 200 day simple moving average is $26.87. First Financial Bancorp. has a 12-month low of $20.59 and a 12-month high of $31.18.

First Financial Bancorp. (NASDAQ:FFBC) last announced its earnings results on Thursday, January 23rd. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.65 by $0.06. First Financial Bancorp. had a return on equity of 10.52% and a net margin of 18.67%. On average, analysts expect that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.96 annualized dividend and a dividend yield of 3.79%. First Financial Bancorp.’s dividend payout ratio is currently 40.00%.

Insider Activity at First Financial Bancorp.

In other news, insider James R. Shank sold 7,600 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $24.92, for a total transaction of $189,392.00. Following the transaction, the insider now owns 11,141 shares of the company’s stock, valued at $277,633.72. This represents a 40.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.04% of the stock is owned by corporate insiders.

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.