First Financial Corporation Indiana (NASDAQ:THFF) Coverage Initiated by Analysts at Hovde Group

Key Points

• Hovde Group initiated coverage of First Financial Corporation Indiana with an “outperform” rating and an $85 price target, implying 16.77% upside from the prior close.
• Analyst sentiment is broadly positive but mixed, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $87.25.
• First Financial exceeded quarterly EPS expectations, reporting $1.91 versus the $1.79 consensus estimate, while institutional investors own 72.74% of the company.

Equities research analysts at Hovde Group started coverage on shares of First Financial Corporation Indiana (NASDAQ:THFF - Get Free Report) in a report released on Monday, MarketBeat Ratings reports. The brokerage set an "outperform" rating and a $85.00 price target on the bank's stock. Hovde Group's target price points to a potential upside of 16.77% from the stock's previous close.

Several other brokerages have also recently weighed in on THFF. Raymond James Financial started coverage on First Financial Corporation Indiana in a report on Thursday, July 9th. They set a "market perform" rating on the stock. Capital One Financial set a $90.00 price target on First Financial Corporation Indiana in a report on Friday, August 7th. Keefe, Bruyette & Woods lifted their price objective on First Financial Corporation Indiana from $78.00 to $84.00 and gave the stock a "market perform" rating in a research report on Friday, August 28th. Weiss Ratings reissued a "buy (a-)" rating on shares of First Financial Corporation Indiana in a research note on Friday, July 24th. Finally, Brean Capital lowered First Financial Corporation Indiana from a "buy" rating to a "neutral" rating and set a $90.00 price objective on the stock. in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $87.25.

First Financial Corporation Indiana Stock Performance

NASDAQ:THFF opened at $72.79 on Monday. The company has a market cap of $865.47 million, a P/E ratio of 10.19 and a beta of 0.44. First Financial Corporation Indiana has a twelve month low of $51.21 and a twelve month high of $84.17. The company's 50-day moving average price is $78.08 and its 200-day moving average price is $73.26. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.43.

First Financial Corporation Indiana (NASDAQ:THFF - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.12. The company had revenue of $71.87 million during the quarter, compared to analysts' expectations of $72.84 million. First Financial Corporation Indiana had a net margin of 23.32% and a return on equity of 13.02%. On average, sell-side analysts forecast that First Financial Corporation Indiana will post 7.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Financial Corporation Indiana

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ritholtz Wealth Management lifted its stake in shares of First Financial Corporation Indiana by 28.0% in the 1st quarter. Ritholtz Wealth Management now owns 54,847 shares of the bank's stock valued at $3,466,000 after purchasing an additional 11,988 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of First Financial Corporation Indiana by 79.2% during the 1st quarter. Hsbc Holdings PLC now owns 30,822 shares of the bank's stock worth $1,968,000 after purchasing an additional 13,619 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of First Financial Corporation Indiana by 33.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 134,371 shares of the bank's stock worth $8,492,000 after purchasing an additional 33,821 shares during the period. Renaissance Technologies LLC grew its holdings in shares of First Financial Corporation Indiana by 8.9% during the 1st quarter. Renaissance Technologies LLC now owns 116,173 shares of the bank's stock worth $7,342,000 after purchasing an additional 9,500 shares during the period. Finally, Quantinno Capital Management LP increased its position in shares of First Financial Corporation Indiana by 62.0% during the 1st quarter. Quantinno Capital Management LP now owns 23,315 shares of the bank's stock worth $1,474,000 after purchasing an additional 8,921 shares during the last quarter. 72.74% of the stock is currently owned by institutional investors and hedge funds.

First Financial Corporation Indiana Company Profile

First Financial Corporation NASDAQ: THFF is a bank holding company headquartered in Terre Haute, Indiana. Its principal subsidiary, First Financial Bank, provides banking and financial services to individuals, families, businesses, and institutions.

First Financial Bank offers deposit accounts, consumer and commercial lending, residential mortgage services, cash-management and treasury services, online and mobile banking, and investment and trust services. Through its wealth-management operations, the company also provides financial planning, investment management, and fiduciary services.

The bank traces its history to 1834 and serves customers through a network of banking offices and digital channels in western and central Indiana and eastern Illinois.

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