Florida-based Gator Capital Management bought 221,920 shares of First Financial Bancorp, valued at $5.60 million in Q3. This position represents 1.42% of their assets under management as of September 30. First Financial Bancorp focuses on commercial and consumer banking products, serving clients in Ohio, Indiana, Kentucky, and Illinois.

Gator Capital Management disclosed a new position in First Financial Bancorp in the third quarter, adding 221,920 shares valued at $5.60 million. This purchase accounted for 1.42% of their $394.37 million in 13F reportable U.S. equity assets. The firm’s top holdings include HOOD, HOUS, FCNCA, AX, and UMBF.

Shares of First Financial Bancorp are priced at $25.72, down 6.5% over the past year. The company offers a range of banking products and services to individuals, small-to-medium businesses, and commercial clients in the Midwest. Despite market challenges, First Financial remains profitable, well-capitalized, and operationally stable.

Gator Capital’s strategic move to invest in First Financial Bancorp, a slower-moving regional bank, reflects a contrarian approach in a growth-focused market. The bank’s stable financial performance and strong dividend yield position it well for long-term success. Patience and a focus on normalized earnings power guide Gator Capital’s investment decisions.

Read more at Yahoo Finance: Why Gator Capital Put $5.6 Million to Work in a Regional Bank Stock Down 7% This Past Year