First Financial Corp IN Cuts Stock Position in First Financial Co. (NASDAQ:THFF)

First Financial Corp IN reduced its stake in shares of First Financial Co. (NASDAQ:THFF - Free Report) by 22.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 593,341 shares of the bank's stock after selling 168,313 shares during the period. First Financial accounts for 14.0% of First Financial Corp IN's portfolio, making the stock its biggest holding. First Financial Corp IN owned 5.01% of First Financial worth $29,062,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Quantbot Technologies LP purchased a new stake in First Financial in the 4th quarter worth $39,000. Ieq Capital LLC purchased a new stake in shares of First Financial during the fourth quarter worth about $205,000. XTX Topco Ltd purchased a new stake in shares of First Financial during the fourth quarter worth about $213,000. Wealth Enhancement Advisory Services LLC bought a new stake in First Financial during the 4th quarter valued at approximately $236,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in First Financial by 27.6% in the 4th quarter. Cubist Systematic Strategies LLC now owns 5,586 shares of the bank's stock worth $258,000 after purchasing an additional 1,209 shares in the last quarter. 72.74% of the stock is currently owned by institutional investors.

First Financial Price Performance

Shares of THFF stock traded down $0.92 on Wednesday, reaching $50.54. The company's stock had a trading volume of 50,387 shares, compared to its average volume of 55,217. The stock's fifty day simple moving average is $48.62 and its 200-day simple moving average is $48.78. First Financial Co. has a 1 year low of $34.61 and a 1 year high of $53.60. The company has a market capitalization of $598.95 million, a price-to-earnings ratio of 12.64 and a beta of 0.41. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05.

First Financial (NASDAQ:THFF - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $1.55 EPS for the quarter, beating the consensus estimate of $1.29 by $0.26. First Financial had a net margin of 15.37% and a return on equity of 8.77%. The business had revenue of $62.49 million during the quarter, compared to analyst estimates of $62.04 million. Analysts forecast that First Financial Co. will post 5.41 earnings per share for the current fiscal year.

First Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Tuesday, April 1st. First Financial's payout ratio is 44.16%.

Analysts Set New Price Targets

Several equities analysts have recently commented on THFF shares. Wall Street Zen raised shares of First Financial from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $55.00 price target (up from $52.00) on shares of First Financial in a report on Thursday, February 6th. Finally, Janney Montgomery Scott raised shares of First Financial from a "neutral" rating to a "buy" rating and set a $58.00 price objective for the company in a report on Monday, February 24th.

Insider Buying and Selling

In related news, Director James O. Mcdonald acquired 1,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $48.99 per share, with a total value of $48,990.00. Following the purchase, the director now directly owns 9,462 shares of the company's stock, valued at approximately $463,543.38. This trade represents a 11.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders purchased 1,708 shares of company stock worth $83,350. Corporate insiders own 3.69% of the company's stock.

First Financial 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.