Frazier Financial Advisors LLC Acquires New Holdings in First Financial Bancorp. (NASDAQ:FFBC)

Frazier Financial Advisors LLC acquired a new stake in First Financial Bancorp. (NASDAQ:FFBC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 22,514 shares of the bank’s stock, valued at approximately $535,000. First Financial Bancorp. accounts for about 0.5% of Frazier Financial Advisors LLC’s holdings, making the stock its 26th largest position.

Several other institutional investors also recently bought and sold shares of FFBC. Blue Trust Inc. grew its position in shares of First Financial Bancorp. by 23.3% during the fourth quarter. Blue Trust Inc. now owns 2,993 shares of the bank’s stock worth $71,000 after buying an additional 566 shares in the last quarter. Planned Solutions Inc. purchased a new stake in First Financial Bancorp. during the fourth quarter worth approximately $101,000. Allspring Global Investments Holdings LLC lifted its stake in First Financial Bancorp. by 19.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,189 shares of the bank’s stock worth $121,000 after purchasing an additional 1,028 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in First Financial Bancorp. by 72.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 7,077 shares of the bank’s stock worth $168,000 after purchasing an additional 2,977 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in First Financial Bancorp. during the fourth quarter worth approximately $207,000. 77.23% of the stock is owned by institutional investors and hedge funds.

First Financial Bancorp. Stock Performance

Shares of First Financial Bancorp. stock traded down $0.24 during trading hours on Wednesday, hitting $23.08. 228,453 shares of the company were exchanged, compared to its average volume of 318,496. First Financial Bancorp. has a 1 year low of $17.23 and a 1 year high of $24.99. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average of $22.22 and a 200-day moving average of $22.18. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 9.40 and a beta of 1.04.

First Financial Bancorp. (NASDAQ:FFBC) last released its quarterly earnings results on Friday, April 26th. The bank reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. First Financial Bancorp. had a return on equity of 11.22% and a net margin of 20.74%. The business had revenue of $287.20 million during the quarter, compared to analysts’ expectations of $201.79 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. As a group, analysts expect that First Financial Bancorp. will post 2.34 EPS for the current fiscal year.

First Financial Bancorp. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Monday, June 3rd. First Financial Bancorp.’s dividend payout ratio is presently 37.10%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FFBC. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 target price on shares of First Financial Bancorp. in a research note on Tuesday, April 9th. Piper Sandler initiated coverage on First Financial Bancorp. in a research note on Friday, February 23rd. They issued an “overweight” rating and a $26.00 price objective for the company.

Insider Buying and Selling

In related news, insider Richard S. Dennen sold 10,500 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $23.64, for a total transaction of $248,220.00. Following the transaction, the insider now owns 93,152 shares of the company’s stock, valued at $2,202,113.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.04% of the stock is currently owned by corporate insiders.

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.