JPMorgan Chase & Co. Cuts Position in First Financial Bancorp. (FFBC)

JPMorgan Chase & Co. decreased its holdings in First Financial Bancorp. (NASDAQ:FFBC) by 0.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,611,947 shares of the bank’s stock after selling 3,663 shares during the period. JPMorgan Chase & Co. owned approximately 4.21% of First Financial Bancorp. worth $68,433,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Macquarie Group Ltd. raised its holdings in First Financial Bancorp. by 3.2% in the second quarter. Macquarie Group Ltd. now owns 2,544,438 shares of the bank’s stock valued at $70,481,000 after buying an additional 77,946 shares during the period. Nicholas Company Inc. raised its holdings in First Financial Bancorp. by 10.8% in the second quarter. Nicholas Company Inc. now owns 205,734 shares of the bank’s stock valued at $5,698,000 after buying an additional 20,015 shares during the period. American Century Companies Inc. raised its holdings in First Financial Bancorp. by 34.3% in the second quarter. American Century Companies Inc. now owns 262,310 shares of the bank’s stock valued at $7,266,000 after buying an additional 67,024 shares during the period. Marshall Wace North America L.P. purchased a new position in First Financial Bancorp. in the second quarter valued at approximately $1,269,000. Finally, Prudential Financial Inc. raised its holdings in First Financial Bancorp. by 5.0% in the third quarter. Prudential Financial Inc. now owns 365,865 shares of the bank’s stock valued at $9,568,000 after buying an additional 17,280 shares during the period. Hedge funds and other institutional investors own 77.89% of the company’s stock.

Shares of First Financial Bancorp. (NASDAQ:FFBC) opened at $28.00 on Thursday. The stock has a market cap of $1,734.58, a P/E ratio of 17.69, a PEG ratio of 1.80 and a beta of 1.16. First Financial Bancorp. has a 12 month low of $22.80 and a 12 month high of $29.80. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.93 and a current ratio of 0.93.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. First Financial Bancorp. had a net margin of 26.49% and a return on equity of 11.22%. The company had revenue of $83.95 million for the quarter, compared to analyst estimates of $88.30 million. During the same quarter last year, the firm posted $0.37 earnings per share. sell-side analysts forecast that First Financial Bancorp. will post 1.56 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, November 30th. First Financial Bancorp.’s payout ratio is currently 43.04%.

A number of analysts have recently issued reports on FFBC shares. Royal Bank Of Canada reiterated a “hold” rating and set a $28.00 price objective on shares of First Financial Bancorp. in a research note on Friday, September 8th. ValuEngine lowered shares of First Financial Bancorp. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of First Financial Bancorp. from a “sell” rating to a “hold” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies set a $28.00 price objective on shares of First Financial Bancorp. and gave the company a “hold” rating in a research note on Friday, October 6th. Finally, BidaskClub lowered shares of First Financial Bancorp. from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. First Financial Bancorp. presently has an average rating of “Hold” and an average price target of $29.00.

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About First Financial Bancorp.

First Financial Bancorp. (First Financial) is a regional bank holding company. First Financial is engaged in the business of commercial banking and other banking and banking-related activities through its subsidiary, First Financial Bank, National Association (the Bank). The range of banking services provided by First Financial to individuals and businesses include commercial lending, real estate lending and consumer financing.

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

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