Xact Kapitalforvaltning AB Acquires New Position in First Financial Bank (FFBC)

Xact Kapitalforvaltning AB acquired a new position in First Financial Bank (NASDAQ:FFBC) in the 4th quarter, HoldingsChannel reports. The firm acquired 8,981 shares of the bank’s stock, valued at approximately $237,000.

Several other institutional investors also recently modified their holdings of FFBC. Russell Investments Group Ltd. raised its stake in shares of First Financial Bank by 37.6% in the third quarter. Russell Investments Group Ltd. now owns 64,913 shares of the bank’s stock worth $1,697,000 after purchasing an additional 17,752 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of First Financial Bank in the third quarter worth approximately $125,000. American International Group Inc. raised its stake in shares of First Financial Bank by 5.7% in the third quarter. American International Group Inc. now owns 48,869 shares of the bank’s stock worth $1,278,000 after purchasing an additional 2,651 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of First Financial Bank by 18.9% during the third quarter. Wells Fargo & Company MN now owns 151,871 shares of the bank’s stock valued at $3,971,000 after acquiring an additional 24,104 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of First Financial Bank by 6.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 393,825 shares of the bank’s stock valued at $10,299,000 after acquiring an additional 24,203 shares during the last quarter. 79.11% of the stock is owned by hedge funds and other institutional investors.

Shares of FFBC opened at $28.80 on Monday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market cap of $1,811.25, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.37 and a beta of 1.10. First Financial Bank has a 12 month low of $22.80 and a 12 month high of $29.65.

First Financial Bank (NASDAQ:FFBC) last issued its quarterly earnings results on Thursday, January 18th. The bank reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.05. First Financial Bank had a return on equity of 11.51% and a net margin of 26.11%. The company had revenue of $94.00 million during the quarter, compared to the consensus estimate of $90.05 million. During the same period last year, the business posted $0.38 earnings per share. equities research analysts predict that First Financial Bank will post 2.1 EPS for the current year.

A number of analysts recently commented on the company. FIG Partners raised First Financial Bank from a “market perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research report on Friday, February 9th. Hilliard Lyons raised First Financial Bank from a “neutral” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Monday, January 22nd. BidaskClub downgraded First Financial Bank from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. ValuEngine raised First Financial Bank from a “hold” rating to a “buy” rating in a research report on Thursday, March 29th. Finally, Zacks Investment Research downgraded First Financial Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, April 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $30.25.

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First Financial Bank Profile

First Financial Bancorp. operates as the bank holding company for First Financial Bank that provides commercial banking and other banking, and banking-related services to individuals and businesses in Ohio, Indiana, and Kentucky. The company accepts various deposit products, such as interest-bearing and noninterest-bearing accounts, time deposits, and cash management services for commercial customers.

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

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