Picton Mahoney Asset Management Purchases 5,053 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Picton Mahoney Asset Management boosted its position in First Financial Bancorp. (NASDAQ:FFBC) by 32.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 20,804 shares of the bank’s stock after acquiring an additional 5,053 shares during the period. Picton Mahoney Asset Management’s holdings in First Financial Bancorp. were worth $559,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in First Financial Bancorp. in the third quarter worth about $30,000. ORG Partners LLC purchased a new stake in shares of First Financial Bancorp. during the fourth quarter worth about $35,000. Allworth Financial LP purchased a new stake in shares of First Financial Bancorp. during the fourth quarter worth about $44,000. Smartleaf Asset Management LLC grew its stake in shares of First Financial Bancorp. by 221.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,717 shares of the bank’s stock worth $73,000 after acquiring an additional 1,873 shares during the last quarter. Finally, Kentucky Trust Co purchased a new stake in shares of First Financial Bancorp. during the fourth quarter worth about $76,000. 77.23% of the stock is currently owned by institutional investors.

First Financial Bancorp. Price Performance

Shares of NASDAQ FFBC opened at $24.85 on Friday. The business’s 50 day moving average price is $27.13 and its 200 day moving average price is $26.93. The firm has a market cap of $2.37 billion, a P/E ratio of 10.35 and a beta of 0.99. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.40.

First Financial Bancorp. (NASDAQ:FFBC) last issued its earnings results on Thursday, January 23rd. The bank reported $0.71 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.24 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.96 annualized dividend and a yield of 3.86%. First Financial Bancorp.’s dividend payout ratio is presently 40.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FFBC shares. Stephens restated an “overweight” rating and set a $33.00 price target on shares of First Financial Bancorp. in a research note on Friday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $30.00 price target on shares of First Financial Bancorp. in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their price target on First Financial Bancorp. from $31.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th.

First Financial Bancorp. Company Profile

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.