First Financial Bancorp. (FFBC) Shares Sold by Morgan Stanley

Morgan Stanley decreased its stake in First Financial Bancorp. (NASDAQ:FFBC) by 40.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 190,827 shares of the bank’s stock after selling 130,497 shares during the period. Morgan Stanley’s holdings in First Financial Bancorp. were worth $5,239,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Guggenheim Capital LLC purchased a new position in First Financial Bancorp. during the fourth quarter valued at about $667,000. Norges Bank purchased a new position in First Financial Bancorp. during the fourth quarter valued at about $17,149,000. Teachers Advisors LLC boosted its position in First Financial Bancorp. by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 101,896 shares of the bank’s stock valued at $2,899,000 after buying an additional 2,465 shares in the last quarter. Bank of Montreal Can boosted its position in First Financial Bancorp. by 50.3% in the first quarter. Bank of Montreal Can now owns 5,580 shares of the bank’s stock valued at $153,000 after buying an additional 1,867 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in First Financial Bancorp. by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,300 shares of the bank’s stock valued at $694,000 after buying an additional 400 shares in the last quarter. Institutional investors own 67.23% of the company’s stock.

First Financial Bancorp. (NASDAQ FFBC) traded down 0.681% during trading on Wednesday, reaching $25.525. The company had a trading volume of 91,717 shares. The firm has a market capitalization of $1.59 billion, a PE ratio of 16.904 and a beta of 1.18. The firm’s 50 day moving average price is $27.17 and its 200 day moving average price is $27.25. First Financial Bancorp. has a 12-month low of $20.55 and a 12-month high of $29.80.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings results on Tuesday, July 25th. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by $0.01. First Financial Bancorp. had a net margin of 24.28% and a return on equity of 10.65%. The company had revenue of $85.97 million during the quarter, compared to the consensus estimate of $89.52 million. During the same quarter last year, the firm posted $0.36 EPS. Analysts anticipate that First Financial Bancorp. will post $1.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.65%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 45.03%.

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Several research firms recently issued reports on FFBC. Sandler O’Neill upgraded First Financial Bancorp. from a “hold” rating to a “buy” rating and raised their price target for the company from $28.00 to $29.00 in a report on Friday, July 28th. BidaskClub upgraded First Financial Bancorp. from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Barclays PLC decreased their price target on First Financial Bancorp. from $27.00 to $25.00 and set an “underweight” rating on the stock in a report on Thursday, July 27th. Piper Jaffray Companies set a $28.00 price target on First Financial Bancorp. and gave the company a “hold” rating in a report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded First Financial Bancorp. from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $28.63.

In related news, insider C Douglas Lefferson sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $25.69, for a total transaction of $1,027,600.00. Following the sale, the insider now owns 74,170 shares in the company, valued at approximately $1,905,427.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.88% of the company’s stock.

First Financial Bancorp. Company Profile

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.

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

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