First Financial Bancorp. (NASDAQ:FFBC) Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC decreased its holdings in First Financial Bancorp. (NASDAQ:FFBC) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,089 shares of the bank’s stock after selling 5,760 shares during the quarter. GW&K Investment Management LLC owned about 0.14% of First Financial Bancorp. worth $3,208,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FFBC. Blue Trust Inc. raised its stake in shares of First Financial Bancorp. by 23.3% during the fourth quarter. Blue Trust Inc. now owns 2,993 shares of the bank’s stock worth $71,000 after purchasing an additional 566 shares during the last quarter. Planned Solutions Inc. purchased a new position in shares of First Financial Bancorp. during the 4th quarter worth approximately $101,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of First Financial Bancorp. by 19.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,189 shares of the bank’s stock valued at $121,000 after buying an additional 1,028 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of First Financial Bancorp. by 72.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the bank’s stock valued at $168,000 after buying an additional 2,977 shares in the last quarter. Finally, Sapient Capital LLC acquired a new position in First Financial Bancorp. during the fourth quarter worth $207,000. 77.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FFBC shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of First Financial Bancorp. in a report on Tuesday, April 9th. Piper Sandler began coverage on shares of First Financial Bancorp. in a report on Friday, February 23rd. They issued an “overweight” rating and a $26.00 target price for the company.

First Financial Bancorp. Price Performance

NASDAQ:FFBC opened at $23.08 on Thursday. First Financial Bancorp. has a 12-month low of $17.23 and a 12-month high of $24.99. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 9.31 and a beta of 1.04. The company’s 50-day moving average is $22.25 and its two-hundred day moving average is $22.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings data on Friday, April 26th. The bank reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. The business had revenue of $287.20 million for the quarter, compared to the consensus estimate of $201.79 million. First Financial Bancorp. had a net margin of 20.74% and a return on equity of 11.22%. During the same quarter in the prior year, the firm posted $0.76 earnings per share. Research analysts expect that First Financial Bancorp. will post 2.42 EPS for the current year.

First Financial Bancorp. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.99%. The ex-dividend date is Monday, June 3rd. First Financial Bancorp.’s dividend payout ratio (DPR) is 37.10%.

Insider Activity

In other First Financial Bancorp. news, insider Richard S. Dennen sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $23.64, for a total value of $248,220.00. Following the sale, the insider now directly owns 93,152 shares of the company’s stock, valued at approximately $2,202,113.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.04% of the company’s stock.

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.