8,331 Shares in First Financial Bancorp. (NASDAQ:FFBC) Bought by Eagle Ridge Investment Management

Eagle Ridge Investment Management purchased a new position in shares of First Financial Bancorp. (NASDAQ:FFBC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,331 shares of the bank’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EntryPoint Capital LLC increased its stake in First Financial Bancorp. by 63.9% in the first quarter. EntryPoint Capital LLC now owns 1,732 shares of the bank’s stock valued at $39,000 after purchasing an additional 675 shares during the period. Bogart Wealth LLC increased its stake in First Financial Bancorp. by 2,976.9% in the third quarter. Bogart Wealth LLC now owns 2,000 shares of the bank’s stock valued at $50,000 after purchasing an additional 1,935 shares during the period. Blue Trust Inc. increased its stake in First Financial Bancorp. by 23.1% in the second quarter. Blue Trust Inc. now owns 3,340 shares of the bank’s stock valued at $75,000 after purchasing an additional 627 shares during the period. Innealta Capital LLC acquired a new position in First Financial Bancorp. in the second quarter valued at $77,000. Finally, nVerses Capital LLC acquired a new position in First Financial Bancorp. in the second quarter valued at $96,000. 77.23% of the stock is currently owned by institutional investors and hedge funds.

First Financial Bancorp. Stock Down 0.2 %

Shares of NASDAQ:FFBC opened at $25.43 on Friday. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 10.25 and a beta of 0.99. First Financial Bancorp. has a fifty-two week low of $17.23 and a fifty-two week high of $28.25. The firm’s 50-day simple moving average is $25.37 and its 200-day simple moving average is $23.84. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.59.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $314.22 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $0.72 earnings per share. As a group, equities research analysts predict that First Financial Bancorp. will post 2.58 earnings per share for the current year.

First Financial Bancorp. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.78%. First Financial Bancorp.’s dividend payout ratio is currently 38.71%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank of Canada lifted 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 report on Monday, July 29th. Keefe, Bruyette & Woods lifted their target price on shares of First Financial Bancorp. from $25.00 to $27.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

Insiders Place Their Bets

In other First Financial Bancorp. news, insider Claude E. Davis sold 29,000 shares of First Financial Bancorp. stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $26.60, for a total transaction of $771,400.00. Following the completion of the transaction, the insider now owns 53,576 shares in the company, valued at approximately $1,425,121.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.04% of the stock is currently owned by company 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.