Hillsdale Investment Management Inc. Reduces Stock Holdings in First Financial Corporation Indiana $THFF

Key Points

• Hillsdale Investment Management cut its stake in First Financial Corporation Indiana by 96.3% in the first quarter, selling 110,025 shares and leaving it with 4,210 shares worth about $266,000.
• Analysts remain cautious overall: the stock has a consensus rating of “Moderate Buy” with an average price target of $70, while recent notes from Keefe, Bruyette & Woods and Raymond James both carried market perform ratings.
• First Financial reported Q1 earnings of $1.67 per share, slightly above estimates, and recently paid a $0.56 quarterly dividend, equivalent to a 2.9% yield.

Hillsdale Investment Management Inc. reduced its position in shares of First Financial Corporation Indiana (NASDAQ:THFF - Free Report) by 96.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,210 shares of the bank's stock after selling 110,025 shares during the period. Hillsdale Investment Management Inc.'s holdings in First Financial Corporation Indiana were worth $266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in First Financial Corporation Indiana by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 825,465 shares of the bank's stock valued at $49,875,000 after purchasing an additional 30,481 shares during the last quarter. First Financial Corp IN raised its position in shares of First Financial Corporation Indiana by 3.2% during the 4th quarter. First Financial Corp IN now owns 638,899 shares of the bank's stock valued at $38,602,000 after buying an additional 19,784 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of First Financial Corporation Indiana by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 495,175 shares of the bank's stock valued at $29,918,000 after buying an additional 11,743 shares during the period. State Street Corp lifted its holdings in First Financial Corporation Indiana by 0.3% in the fourth quarter. State Street Corp now owns 450,342 shares of the bank's stock valued at $27,210,000 after acquiring an additional 1,332 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in First Financial Corporation Indiana by 4.0% in the fourth quarter. LSV Asset Management now owns 402,061 shares of the bank's stock valued at $24,293,000 after acquiring an additional 15,528 shares during the last quarter. 72.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

THFF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on First Financial Corporation Indiana from $68.00 to $70.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 5th. Raymond James Financial initiated coverage on First Financial Corporation Indiana in a research note on Thursday, July 9th. They issued a "market perform" rating on the stock. Finally, Weiss Ratings upgraded First Financial Corporation Indiana from a "buy (b)" rating to a "buy (a-)" rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, First Financial Corporation Indiana currently has a consensus rating of "Moderate Buy" and an average price target of $70.00.

First Financial Corporation Indiana Stock Performance

Shares of THFF stock opened at $76.45 on Friday. The firm's 50 day moving average price is $72.43 and its 200-day moving average price is $67.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 0.87. First Financial Corporation Indiana has a one year low of $51.21 and a one year high of $78.74. The firm has a market cap of $908.99 million, a P/E ratio of 11.24 and a beta of 0.42.

First Financial Corporation Indiana (NASDAQ:THFF - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $1.67 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.03. The firm had revenue of $68.15 million during the quarter, compared to analysts' expectations of $69.57 million. First Financial Corporation Indiana had a net margin of 22.82% and a return on equity of 12.81%. As a group, equities research analysts predict that First Financial Corporation Indiana will post 7.24 EPS for the current year.

First Financial Corporation Indiana Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Wednesday, July 1st. First Financial Corporation Indiana's payout ratio is currently 32.94%.

First Financial Corporation Indiana Company Profile

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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