Bank of America Corp DE Sells 13,780 Shares of First Financial Co. (NASDAQ:THFF)

Bank of America Corp DE lessened its position in First Financial Co. (NASDAQ:THFF - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,971 shares of the bank's stock after selling 13,780 shares during the quarter. Bank of America Corp DE owned approximately 0.30% of First Financial worth $1,615,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Martingale Asset Management L P boosted its stake in First Financial by 0.4% in the 4th quarter. Martingale Asset Management L P now owns 46,048 shares of the bank's stock valued at $2,127,000 after purchasing an additional 203 shares during the period. Sterling Capital Management LLC boosted its stake in First Financial by 4.9% in the 4th quarter. Sterling Capital Management LLC now owns 6,979 shares of the bank's stock valued at $322,000 after purchasing an additional 327 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in First Financial by 3.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,381 shares of the bank's stock valued at $942,000 after purchasing an additional 702 shares during the period. Quantbot Technologies LP bought a new stake in First Financial in the 4th quarter valued at $39,000. Finally, Legato Capital Management LLC boosted its stake in First Financial by 3.5% in the 4th quarter. Legato Capital Management LLC now owns 26,447 shares of the bank's stock valued at $1,222,000 after purchasing an additional 904 shares during the period. Institutional investors and hedge funds own 72.74% of the company's stock.

Insider Activity

In related news, Director James O. Mcdonald purchased 1,000 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $48.99 per share, with a total value of $48,990.00. Following the completion of the purchase, the director now owns 9,462 shares in the company, valued at approximately $463,543.38. This represents a 11.82% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders purchased 1,675 shares of company stock valued at $81,719. Company insiders own 3.69% of the company's stock.

First Financial Price Performance

THFF traded up $1.16 on Friday, reaching $51.71. The stock had a trading volume of 32,538 shares, compared to its average volume of 55,180. First Financial Co. has a fifty-two week low of $34.61 and a fifty-two week high of $53.60. The firm has a 50-day moving average of $48.75 and a 200-day moving average of $48.83. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $612.82 million, a price-to-earnings ratio of 12.93 and a beta of 0.42.

First Financial (NASDAQ:THFF - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The bank reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.29 by $0.26. First Financial had a return on equity of 8.77% and a net margin of 15.37%. The business had revenue of $62.49 million during the quarter, compared to analysts' expectations of $62.04 million. As a group, sell-side analysts anticipate that First Financial Co. will post 5.41 EPS for the current year.

First Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were paid a $0.51 dividend. The ex-dividend date was Tuesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 3.95%. First Financial's payout ratio is 44.16%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on THFF. Wall Street Zen upgraded First Financial from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Janney Montgomery Scott upgraded First Financial from a "neutral" rating to a "buy" rating and set a $58.00 target price for the company in a research report on Monday, February 24th.

First Financial Company Profile

First Financial Corporation, through its subsidiaries, provides various financial services. The company offers non-interest-bearing demand, interest-bearing demand, savings, time, and other time deposits. It also provides commercial loans primarily to expand a business or finance asset purchases; residential real estate and residential real estate construction loans; and home equity loans and lines, secured loans, and cash/CD secured and unsecured loans.