QRG Capital Management Inc. Grows Position in First Financial Bancorp. (NASDAQ:FFBC)

QRG Capital Management Inc. raised its holdings in shares of First Financial Bancorp. (NASDAQ:FFBC) by 4.3% during the fourth quarter, HoldingsChannel reports. The firm owned 37,505 shares of the bank’s stock after purchasing an additional 1,537 shares during the period. QRG Capital Management Inc.’s holdings in First Financial Bancorp. were worth $1,008,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Ieq Capital LLC bought a new stake in First Financial Bancorp. during the 4th quarter valued at $228,000. Principal Financial Group Inc. grew its stake in First Financial Bancorp. by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 511,868 shares of the bank’s stock valued at $13,759,000 after purchasing an additional 20,636 shares during the last quarter. Allworth Financial LP purchased a new stake in shares of First Financial Bancorp. during the fourth quarter valued at about $44,000. Kentucky Trust Co bought a new stake in shares of First Financial Bancorp. in the 4th quarter valued at about $76,000. Finally, Empowered Funds LLC grew its position in shares of First Financial Bancorp. by 5.1% in the 4th quarter. Empowered Funds LLC now owns 308,749 shares of the bank’s stock worth $8,299,000 after buying an additional 15,037 shares during the last quarter. Institutional investors own 77.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FFBC shares. Royal Bank of Canada restated a “sector perform” rating and issued a $30.00 target price on shares of First Financial Bancorp. in a research note on Monday, January 27th. Stephens reiterated an “overweight” rating and issued a $33.00 price target on shares of First Financial Bancorp. in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods raised their price target on First Financial Bancorp. from $31.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, January 27th.

First Financial Bancorp. Price Performance

Shares of FFBC opened at $27.14 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.90 and a quick ratio of 0.90. The company’s fifty day moving average price is $27.49 and its 200-day moving average price is $26.98. First Financial Bancorp. has a 1-year low of $20.59 and a 1-year high of $31.18. The firm has a market capitalization of $2.59 billion, a PE ratio of 11.31 and a beta of 1.02.

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

First Financial Bancorp. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.24 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.96 annualized dividend and a yield of 3.54%. First Financial Bancorp.’s dividend payout ratio (DPR) is presently 40.00%.

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.