Teacher Retirement System of Texas purchased a new stake in shares of First Financial Bancorp (NASDAQ:FFBC) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 21,357 shares of the bank’s stock, valued at approximately $563,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Truepoint Inc. acquired a new position in shares of First Financial Bancorp in the third quarter valued at approximately $309,000. Macquarie Group Ltd. grew its holdings in shares of First Financial Bancorp by 8.9% in the third quarter. Macquarie Group Ltd. now owns 2,770,582 shares of the bank’s stock valued at $72,451,000 after purchasing an additional 226,144 shares in the last quarter. Maltese Capital Management LLC grew its holdings in shares of First Financial Bancorp by 300.1% in the fourth quarter. Maltese Capital Management LLC now owns 280,073 shares of the bank’s stock valued at $7,380,000 after purchasing an additional 210,073 shares in the last quarter. Chartwell Investment Partners LLC grew its holdings in shares of First Financial Bancorp by 28.9% in the third quarter. Chartwell Investment Partners LLC now owns 603,250 shares of the bank’s stock valued at $15,774,000 after purchasing an additional 135,325 shares in the last quarter. Finally, Chicago Equity Partners LLC grew its holdings in shares of First Financial Bancorp by 206.3% in the fourth quarter. Chicago Equity Partners LLC now owns 179,163 shares of the bank’s stock valued at $4,721,000 after purchasing an additional 120,670 shares in the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.
First Financial Bancorp (NASDAQ FFBC) opened at $29.30 on Tuesday. First Financial Bancorp has a 12 month low of $22.80 and a 12 month high of $29.65. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.93. The stock has a market cap of $1,813.12, a P/E ratio of 17.70, a P/E/G ratio of 1.39 and a beta of 1.19.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.76 dividend on an annualized basis and a yield of 2.59%. This is an increase from First Financial Bancorp’s previous quarterly dividend of $0.17. First Financial Bancorp’s payout ratio is currently 47.50%.
FFBC has been the subject of a number of research reports. Hilliard Lyons upgraded shares of First Financial Bancorp from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Monday, January 22nd. BidaskClub upgraded shares of First Financial Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th. FIG Partners upgraded shares of First Financial Bancorp from a “market perform” rating to an “outperform” rating and set a $31.00 price objective for the company in a report on Friday, February 9th. Finally, Barclays lifted their price objective on shares of First Financial Bancorp from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $29.90.
ILLEGAL ACTIVITY WARNING: “Teacher Retirement System of Texas Invests $563,000 in First Financial Bancorp (FFBC)” was first posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/3259179/teacher-retirement-system-of-texas-invests-563000-in-first-financial-bancorp-ffbc.html.
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.
Want to see what other hedge funds are holding FFBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Financial Bancorp (NASDAQ:FFBC).
Receive News & Ratings for First Financial Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Financial Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.