Charles Schwab Investment Management Inc. Increases Stake in First Financial Bancorp.

As of December 4, 2024, Charles Schwab Investment Management Inc. has reported an increase in its investment in First Financial Bancorp. (NASDAQ:FFBC) by 1.9% during the third quarter, according to the latest Form 13F filing with the SEC. The investment firm now holds 1,282,349 shares of FFBC after acquiring an additional 23,472 shares over the quarter. The value of these holdings stood at approximately $32,354,000 at the close of the reporting period.

Other institutional investors have also adjusted their positions with regards to First Financial Bancorp. For instance, Dimensional Fund Advisors LP increased its stake by 0.9% during the second quarter, acquiring an additional 60,612 shares to own a total of 6,732,162 shares valued at about $149,587,000. Meanwhile, First Financial Bank Trust Division raised its holdings by 4.2% in the third quarter, resulting in ownership of 901,908 shares valued at around $22,755,000 after a purchase of 36,679 additional shares.

Additionally, Principal Financial Group Inc. also increased its stake by 4.3% during the third quarter, bringing its total to 491,232 shares valued at $12,394,000 after acquiring 20,449 shares. American Century Companies Inc. saw a substantial boost of 94.0% in the second quarter, leading to ownership of 338,711 shares valued at $7,526,000 following the purchase of 164,105 shares. Similarly, Denali Advisors LLC raised its stake by 41.1% with an added 88,100 shares, bringing its total to 302,700 shares worth $6,726,000. Overall, institutional investors now control about 77.23% of First Financial Bancorp.'s stock.

Stock Performance Overview

On Wednesday, NASDAQ FFBC opened at $28.84. The share has a 50-day moving average of $26.74 and a 200-day moving average of $24.96. The company’s debt-to-equity ratio is 0.45, with both the quick and current ratios also at 0.91. First Financial Bancorp. has experienced a 52-week low of $20.59 and a high of $31.18. It holds a market capitalization of $2.75 billion and has a price-to-earnings ratio of 12.43 with a beta value of 1.01.

First Financial Bancorp. recently reported its quarterly earnings on October 24, announcing an earnings per share (EPS) of $0.67, surpassing the consensus estimate of $0.66 by $0.01. The bank achieved a net margin of 18.55% and a return on equity of 10.32%. During the quarter, it generated revenue of $302.82 million, significantly exceeding analyst expectations of $214.00 million. Notably, the EPS remained consistent at $0.67 compared to the same quarter in the previous year. Analysts project that First Financial Bancorp. will report an EPS of 2.53 for the current fiscal year.

Dividend Declaration

First Financial Bancorp. announced a quarterly dividend, set to be distributed on Monday, December 16th. Shareholders on record as of December 2nd will receive a dividend of $0.24 per share, making for an annualized yield of 3.33%. This dividend payout ratio stands at 41.38%.

Insider Trading Activity

In related news, insider James R. Shank sold 3,700 shares of First Financial Bancorp. stock on October 30th for an average price of $26.34, totaling $97,458. Following this sale, Shank holds 15,374 shares valued at approximately $404,951.16, reflecting a decrease of 19.40% in his ownership. Similarly, on November 25th, insider Richard S. Dennen sold 4,068 shares for about $30.01 per share, totaling $122,080.68; after this transaction, Dennen owns 70,652 shares valued at $2,120,266.52, marking a decrease of 5.44%. Over the last 90 days, insiders have sold 11,700 shares worth $335,429, with insiders currently owning 2.04% of the company's stock.

Company Profile

First Financial Bancorp. serves as the bank holding company for First Financial Bank, providing a broad range of commercial banking and financial services to individuals and businesses across Ohio, Indiana, Kentucky, and Illinois. The services offered include checking and savings accounts, money-market accounts, as well as a variety of deposit products catering to both individual and commercial customers.

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