Pzena Investment Management LLC Takes Position in First Financial Corporation Indiana $THFF

Key Points

• Pzena Investment Management acquired 834,628 shares of First Financial Corporation Indiana, worth approximately $36.5 million and representing a 7.02% stake. Institutional investors collectively own 72.74% of the company.
• First Financial reported quarterly earnings of $1.91 per share, exceeding analyst estimates of $1.79, while revenue of $71.83 million fell slightly short of expectations.
• The bank maintains a quarterly dividend of $0.56 per share, or $2.24 annually, yielding about 2.7%. Analysts have a consensus “Hold” rating and an average price target of $86, compared with shares recently trading at $81.61.

Pzena Investment Management LLC bought a new stake in shares of First Financial Corporation Indiana (NASDAQ:THFF - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 834,628 shares of the bank's stock, valued at approximately $36,515,000. Pzena Investment Management LLC owned about 7.02% of First Financial Corporation Indiana as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of THFF. Ritholtz Wealth Management boosted its holdings in First Financial Corporation Indiana by 28.0% during the 1st quarter. Ritholtz Wealth Management now owns 54,847 shares of the bank's stock worth $3,466,000 after acquiring an additional 11,988 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of First Financial Corporation Indiana by 79.2% in the 1st quarter. Hsbc Holdings PLC now owns 30,822 shares of the bank's stock worth $1,968,000 after acquiring an additional 13,619 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of First Financial Corporation Indiana by 33.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 134,371 shares of the bank's stock valued at $8,492,000 after purchasing an additional 33,821 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of First Financial Corporation Indiana by 8.9% in the first quarter. Renaissance Technologies LLC now owns 116,173 shares of the bank's stock valued at $7,342,000 after purchasing an additional 9,500 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of First Financial Corporation Indiana during the first quarter valued at about $654,000. Institutional investors own 72.74% of the company's stock.

First Financial Corporation Indiana Stock Down 0.5%

Shares of NASDAQ:THFF opened at $81.61 on Tuesday. First Financial Corporation Indiana has a 1 year low of $51.21 and a 1 year high of $84.17. The company has a market capitalization of $970.34 million, a PE ratio of 11.43 and a beta of 0.42. The business has a fifty day moving average price of $77.39 and a two-hundred day moving average price of $69.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.88.

First Financial Corporation Indiana (NASDAQ:THFF - Get Free Report) last released its earnings results on Tuesday, July 28th. The bank reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.12. The company had revenue of $71.83 million for the quarter, compared to analysts' expectations of $72.84 million. First Financial Corporation Indiana had a return on equity of 13.02% and a net margin of 23.32%. Analysts forecast that First Financial Corporation Indiana will post 7.59 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. Investors of record on Wednesday, July 1st were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Wednesday, July 1st. First Financial Corporation Indiana's dividend payout ratio (DPR) is 31.37%.

Analyst Ratings Changes

Several research firms recently weighed in on THFF. Keefe, Bruyette & Woods boosted their price target on shares of First Financial Corporation Indiana from $73.00 to $78.00 and gave the stock a "market perform" rating in a report on Thursday, July 30th. Raymond James Financial assumed 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. Capital One Financial set a $90.00 price objective on shares of First Financial Corporation Indiana in a research note on Friday, August 7th. Brean Capital cut shares of First Financial Corporation Indiana from a "buy" rating to a "neutral" rating and set a $90.00 target price on the stock. in a research report on Friday, August 7th. Finally, Weiss Ratings restated 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. Based on data from MarketBeat, First Financial Corporation Indiana presently has an average rating of "Hold" and a consensus target price of $86.00.

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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