Frazier Financial Advisors LLC Sells 970 Shares of First Financial Bancorp. (NASDAQ:FFBC)

Frazier Financial Advisors LLC reduced its position in First Financial Bancorp. (NASDAQ:FFBC) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,627 shares of the bank’s stock after selling 970 shares during the period. First Financial Bancorp. accounts for 0.4% of Frazier Financial Advisors LLC’s portfolio, making the stock its 28th biggest position. Frazier Financial Advisors LLC’s holdings in First Financial Bancorp. were worth $503,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of FFBC. Principal Financial Group Inc. lifted its position in First Financial Bancorp. by 4.3% during the third quarter. Principal Financial Group Inc. now owns 491,232 shares of the bank’s stock valued at $12,394,000 after purchasing an additional 20,449 shares during the period. Contravisory Investment Management Inc. purchased a new stake in First Financial Bancorp. in the fourth quarter valued at $273,000. Geode Capital Management LLC increased its holdings in First Financial Bancorp. by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 2,271,990 shares of the bank’s stock valued at $57,333,000 after purchasing an additional 34,977 shares during the last quarter. Citigroup Inc. lifted its holdings in First Financial Bancorp. by 25.2% during the 3rd quarter. Citigroup Inc. now owns 166,170 shares of the bank’s stock worth $4,192,000 after buying an additional 33,464 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in First Financial Bancorp. in the third quarter worth approximately $2,792,000. Institutional investors own 77.23% of the company’s stock.

Insider Buying and Selling at First Financial Bancorp.

In related news, insider James R. Shank sold 7,600 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $24.92, for a total transaction of $189,392.00. Following the completion of the transaction, the insider now directly owns 11,141 shares in the company, valued at approximately $277,633.72. This trade represents a 40.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.04% of the company’s stock.

First Financial Bancorp. Stock Down 0.1 %

Shares of NASDAQ:FFBC opened at $25.29 on Friday. First Financial Bancorp. has a 52 week low of $20.59 and a 52 week high of $31.18. The company has a market cap of $2.41 billion, a PE ratio of 10.54 and a beta of 0.99. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a 50 day simple moving average of $26.84 and a 200 day simple moving average of $26.86.

First Financial Bancorp. (NASDAQ:FFBC) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. First Financial Bancorp. had a net margin of 18.67% and a return on equity of 10.52%. As a group, research analysts expect that First Financial Bancorp. will post 2.64 earnings per share for the current year.

First Financial Bancorp. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Monday, March 3rd. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 40.00%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Stephens reiterated an “overweight” rating and issued a $33.00 price target on shares of First Financial Bancorp. in a research report on Friday, January 24th. Keefe, Bruyette & Woods boosted their price objective on shares of First Financial Bancorp. from $31.00 to $32.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $30.00 target price on shares of First Financial Bancorp. in a research report on Monday, January 27th.

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.