Hsbc Holdings PLC Increases Stake in First Financial Corporation Indiana $THFF

Key Points

• Hsbc Holdings PLC increased its First Financial Corporation Indiana stake by 79.2% in the first quarter, holding 30,822 shares worth approximately $1.97 million. Institutional investors collectively own 72.74% of THFF.
• Analysts give THFF a “Moderate Buy” consensus rating, with an average price target of $70.00. Raymond James initiated coverage at “Market Perform,” while Keefe, Bruyette & Woods raised its target to $70.
• First Financial reported quarterly EPS of $1.67, exceeding the $1.64 consensus estimate, and recently paid a $0.56 quarterly dividend. The annualized dividend is $2.24, representing a 2.9% yield.

Hsbc Holdings PLC lifted its position in First Financial Corporation Indiana (NASDAQ:THFF - Free Report) by 79.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,822 shares of the bank's stock after acquiring an additional 13,619 shares during the quarter. Hsbc Holdings PLC owned 0.26% of First Financial Corporation Indiana worth $1,968,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in THFF. EverSource Wealth Advisors LLC increased its position in First Financial Corporation Indiana by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 585 shares of the bank's stock valued at $32,000 after purchasing an additional 468 shares during the period. Quantbot Technologies LP purchased a new stake in shares of First Financial Corporation Indiana in the 2nd quarter worth approximately $47,000. Smartleaf Asset Management LLC lifted its position in shares of First Financial Corporation Indiana by 135.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,396 shares of the bank's stock worth $85,000 after purchasing an additional 804 shares during the period. Advisory Services Network LLC bought a new position in shares of First Financial Corporation Indiana during the third quarter valued at approximately $89,000. Finally, PNC Financial Services Group Inc. increased its holdings in First Financial Corporation Indiana by 16.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,566 shares of the bank's stock valued at $95,000 after buying an additional 216 shares during the period. 72.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Raymond James Financial began coverage on shares of First Financial Corporation Indiana in a research note on Thursday, July 9th. They issued a "market perform" rating for the company. Weiss Ratings raised First Financial Corporation Indiana from a "buy (b)" rating to a "buy (a-)" rating in a research report on Monday, April 27th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Financial Corporation Indiana from $68.00 to $70.00 and gave the stock a "market perform" rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $70.00.

First Financial Corporation Indiana Price Performance

NASDAQ THFF opened at $77.51 on Monday. The stock's fifty day moving average price is $73.47 and its 200 day moving average price is $67.68. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $921.59 million, a price-to-earnings ratio of 11.40 and a beta of 0.42. First Financial Corporation Indiana has a 1 year low of $51.21 and a 1 year high of $78.74.

First Financial Corporation Indiana (NASDAQ:THFF - Get Free Report) last issued its earnings results on Tuesday, April 28th. The bank reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 forecast that First Financial Corporation Indiana will post 7.24 earnings per share for the current year.

First Financial Corporation Indiana Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders 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 of this dividend was Wednesday, July 1st. First Financial Corporation Indiana's payout ratio is 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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