Susquehanna Fundamental Investments LLC Acquires 22,305 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Susquehanna Fundamental Investments LLC boosted its position in First Financial Bancorp. (NASDAQ:FFBC) by 66.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 55,865 shares of the bank’s stock after purchasing an additional 22,305 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in First Financial Bancorp. were worth $1,241,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC grew its position in First Financial Bancorp. by 162.4% in the 2nd quarter. Millennium Management LLC now owns 242,187 shares of the bank’s stock worth $5,381,000 after purchasing an additional 149,896 shares in the last quarter. AQR Capital Management LLC bought a new stake in First Financial Bancorp. in the 2nd quarter worth about $300,000. Magnetar Financial LLC bought a new stake in First Financial Bancorp. in the 2nd quarter worth about $264,000. Public Sector Pension Investment Board grew its position in First Financial Bancorp. by 7.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 210,004 shares of the bank’s stock worth $4,666,000 after purchasing an additional 14,994 shares in the last quarter. Finally, Sei Investments Co. grew its position in First Financial Bancorp. by 8.7% in the 2nd quarter. Sei Investments Co. now owns 69,266 shares of the bank’s stock worth $1,539,000 after purchasing an additional 5,551 shares in the last quarter. 77.23% of the stock is owned by institutional investors.

Insider Activity at First Financial Bancorp.

In related news, insider Claude E. Davis sold 29,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $26.60, for a total transaction of $771,400.00. Following the sale, the insider now directly owns 53,576 shares in the company, valued at approximately $1,425,121.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.04% of the stock is currently owned by corporate insiders.

First Financial Bancorp. Stock Down 3.4 %

FFBC opened at $24.37 on Wednesday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 9.83 and a beta of 0.99. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $25.50 and its two-hundred day moving average price is $23.47. First Financial Bancorp. has a twelve month low of $17.23 and a twelve month high of $28.25.

First Financial Bancorp. (NASDAQ:FFBC) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $314.22 million for the quarter, compared to analysts’ expectations of $203.50 million. First Financial Bancorp. had a net margin of 19.67% and a return on equity of 10.69%. During the same period in the prior year, the company posted $0.72 EPS. As a group, equities analysts expect that First Financial Bancorp. will post 2.58 earnings per share for the current year.

First Financial Bancorp. Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were paid a dividend of $0.24 per share. This is a boost from First Financial Bancorp.’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Friday, August 30th. First Financial Bancorp.’s dividend payout ratio is presently 38.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FFBC shares. Keefe, Bruyette & Woods upped their price objective on shares of First Financial Bancorp. from $25.00 to $27.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Royal Bank of Canada boosted their target price on shares of First Financial Bancorp. from $25.00 to $29.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th.

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.