BlackRock Inc. Makes New $149.50 Million Investment in First Financial Corporation Indiana $THFF

Key Points

• BlackRock acquired 3.42 million shares of First Financial Corporation Indiana, valued at approximately $149.5 million, giving it a 28.74% stake. Institutional investors collectively own 72.74% of the company.
• Analyst sentiment is largely neutral: the stock has an average “Hold” rating and an $88 consensus price target, with targets ranging from $84 to $90.
• THFF reported quarterly EPS of $1.91, exceeding estimates of $1.79, while revenue reached $71.87 million. The company maintains a quarterly dividend of $0.56 per share, equivalent to a 2.8% annualized yield.

BlackRock Inc. purchased a new stake in First Financial Corporation Indiana (NASDAQ:THFF - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,417,251 shares of the bank's stock, valued at approximately $149,505,000. BlackRock Inc. owned approximately 28.74% of First Financial Corporation Indiana as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in First Financial Corporation Indiana by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,821 shares of the bank's stock worth $334,000 after acquiring an additional 312 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in First Financial Corporation Indiana by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 101,909 shares of the bank's stock worth $4,992,000 after acquiring an additional 1,666 shares during the last quarter. Jane Street Group LLC acquired a new stake in First Financial Corporation Indiana during the 1st quarter valued at approximately $213,000. Legal & General Group Plc raised its stake in shares of First Financial Corporation Indiana by 12.6% during the 2nd quarter. Legal & General Group Plc now owns 12,647 shares of the bank's stock valued at $685,000 after buying an additional 1,417 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of First Financial Corporation Indiana by 2.8% in the 2nd quarter. Rhumbline Advisers now owns 17,845 shares of the bank's stock valued at $967,000 after buying an additional 494 shares during the period. Hedge funds and other institutional investors own 72.74% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on THFF. Brean Capital lowered First Financial Corporation Indiana from a "buy" rating to a "neutral" rating and set a $90.00 target price on the stock. in a report on Friday, August 7th. Raymond James Financial assumed coverage on shares of First Financial Corporation Indiana in a report on Thursday, July 9th. They set a "market perform" rating for the company. Keefe, Bruyette & Woods boosted their target price on shares of First Financial Corporation Indiana from $78.00 to $84.00 and gave the company a "market perform" rating in a research note on Friday. Capital One Financial set a $90.00 price target on First Financial Corporation Indiana in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "buy (a-)" rating on shares of First Financial Corporation Indiana in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, First Financial Corporation Indiana currently has an average rating of "Hold" and a consensus price target of $88.00.

First Financial Corporation Indiana Trading Down 0.3%

Shares of NASDAQ:THFF opened at $79.24 on Friday. First Financial Corporation Indiana has a 52 week low of $51.21 and a 52 week high of $84.17. The company's 50 day moving average is $78.46 and its two-hundred day moving average is $70.62. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market cap of $942.16 million, a PE ratio of 11.10 and a beta of 0.42.

First Financial Corporation Indiana (NASDAQ:THFF - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.12. The business 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%. Equities analysts predict that First Financial Corporation Indiana will post 7.59 earnings per share for the current fiscal year.

First Financial Corporation Indiana Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a $0.56 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $2.24 dividend on an annualized basis and a yield of 2.8%. First Financial Corporation Indiana's dividend payout ratio (DPR) is currently 31.37%.

About First Financial Corporation Indiana

First Financial Corporation Indiana is a bank holding company headquartered in Terre Haute, Indiana, that offers a full suite of financial services to individuals and businesses. Through its subsidiary, First Financial Bank, the company provides traditional banking products including checking and savings accounts, certificates of deposit, and cash management solutions. It also offers consumer and commercial lending services ranging from residential mortgages and home equity lines of credit to working capital loans and equipment financing.

The company's service offerings extend beyond core banking to include wealth management and trust services, retirement planning, and brokerage solutions.

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