The Manufacturers Life Insurance Company Makes New $33.43 Million Investment in First Financial Corporation Indiana $THFF

Key Points

• The Manufacturers Life Insurance Company acquired 764,026 shares of First Financial Corporation Indiana, worth approximately $33.4 million and representing a 6.43% stake. Institutional investors and hedge funds collectively own 72.74% of the bank.
• First Financial reported quarterly EPS of $1.91, beating estimates of $1.79, while revenue of $71.83 million fell short of the $72.84 million consensus forecast.
• The bank declared a quarterly dividend of $0.56 per share, equivalent to $2.24 annually and a 2.8% yield. Analysts give the stock an average “Hold” rating with an average price target of $86, compared with a recent price of $79.07.

The Manufacturers Life Insurance Company purchased a new position in shares of First Financial Corporation Indiana (NASDAQ:THFF - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 764,026 shares of the bank's stock, valued at approximately $33,426,000. The Manufacturers Life Insurance Company owned 6.43% of First Financial Corporation Indiana as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of First Financial Corporation Indiana in the 2nd quarter valued at $149,505,000. Pzena Investment Management LLC acquired a new position in First Financial Corporation Indiana in the 2nd quarter valued at about $36,515,000. UNIVEST FINANCIAL Corp acquired a new position in First Financial Corporation Indiana in the 2nd quarter valued at about $22,025,000. JPMorgan Chase & Co. increased its stake in First Financial Corporation Indiana by 43.2% during the fourth quarter. JPMorgan Chase & Co. now owns 206,412 shares of the bank's stock worth $12,471,000 after purchasing an additional 62,239 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in First Financial Corporation Indiana by 223.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 66,009 shares of the bank's stock worth $3,988,000 after purchasing an additional 45,606 shares during the period. 72.74% of the stock is owned by institutional investors and hedge funds.

First Financial Corporation Indiana Stock Down 0.2%

Shares of NASDAQ:THFF opened at $79.07 on Thursday. The company has a market capitalization of $940.14 million, a PE ratio of 11.07 and a beta of 0.42. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.43. First Financial Corporation Indiana has a twelve month low of $51.21 and a twelve month high of $84.17. The firm has a 50 day simple moving average of $78.21 and a 200-day simple moving average of $70.48.

First Financial Corporation Indiana (NASDAQ:THFF - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $1.91 EPS for the quarter, topping the consensus estimate of $1.79 by $0.12. The company had revenue of $71.83 million for the quarter, compared to analyst estimates of $72.84 million. First Financial Corporation Indiana had a return on equity of 13.02% and a net margin of 23.32%. On average, equities analysts predict that First Financial Corporation Indiana will post 7.59 EPS for the current fiscal year.

First Financial Corporation Indiana Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a dividend of $0.56 per share. 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 is currently 31.37%.

Wall Street Analyst Weigh In

THFF has been the subject of several recent research reports. Raymond James Financial started 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 reaffirmed a "buy (a-)" rating on shares of First Financial Corporation Indiana in a research note on Friday, July 24th. Keefe, Bruyette & Woods increased their target price 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. Brean Capital downgraded shares of First Financial Corporation Indiana from a "buy" rating to a "neutral" rating and set a $90.00 price target for the company. in a research note on Friday, August 7th. Finally, Capital One Financial set a $90.00 price objective on First Financial Corporation Indiana in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average 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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