UNIVEST FINANCIAL Corp Makes New Investment in First Financial Corporation Indiana $THFF

Key Points

• UNIVEST FINANCIAL Corp acquired 503,433 shares of First Financial Corporation Indiana, valued at approximately $22.0 million. The position represents about 4.23% of THFF and 1.1% of UNIVEST’s portfolio.
• THFF reported quarterly EPS of $1.91, beating estimates of $1.79, while revenue of $71.83 million fell slightly short of expectations. The bank maintains a 2.7% dividend yield based on its annualized $2.24 payout.
• Analyst sentiment is mixed but generally cautious: THFF has an average “Hold” rating and a consensus price target of $86, compared with a recent share price of $81.61.

UNIVEST FINANCIAL Corp bought a new position in First Financial Corporation Indiana (NASDAQ:THFF - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 503,433 shares of the bank's stock, valued at approximately $22,025,000. First Financial Corporation Indiana comprises about 1.1% of UNIVEST FINANCIAL Corp's portfolio, making the stock its 18th largest position. UNIVEST FINANCIAL Corp owned approximately 4.23% of First Financial Corporation Indiana as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of First Financial Corporation Indiana by 400.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 585 shares of the bank's stock worth $32,000 after purchasing an additional 468 shares during the last quarter. Quantbot Technologies LP purchased a new stake in First Financial Corporation Indiana during the 2nd quarter valued at about $47,000. Smartleaf Asset Management LLC grew its position in First Financial Corporation Indiana by 135.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,396 shares of the bank's stock valued at $85,000 after purchasing an additional 804 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in First Financial Corporation Indiana by 16.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,566 shares of the bank's stock valued at $95,000 after purchasing an additional 216 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in First Financial Corporation Indiana during the 3rd quarter valued at about $89,000. 72.74% of the stock is currently owned by institutional investors.

First Financial Corporation Indiana Price Performance

NASDAQ THFF opened at $81.61 on Tuesday. First Financial Corporation Indiana has a one year low of $51.21 and a one year high of $84.17. The stock has a 50-day moving average of $77.39 and a 200 day moving average of $69.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $970.34 million, a price-to-earnings ratio of 11.43 and a beta of 0.42.

First Financial Corporation Indiana (NASDAQ:THFF - Get Free Report) last posted its earnings results on Tuesday, July 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.12. The business had revenue of $71.83 million for the quarter, compared to analysts' expectations of $72.84 million. First Financial Corporation Indiana had a net margin of 23.32% and a return on equity of 13.02%. On average, sell-side analysts forecast that First Financial Corporation Indiana will post 7.59 EPS for the current year.

First Financial Corporation Indiana Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given 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 2.7%. First Financial Corporation Indiana's dividend payout ratio is 31.37%.

Analyst Ratings Changes

Several research analysts have recently issued reports on THFF shares. Keefe, Bruyette & Woods upped 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 research note on Thursday, July 30th. Raymond James Financial began coverage on shares of First Financial Corporation Indiana in a research report on Thursday, July 9th. They set a "market perform" rating for the company. Brean Capital lowered shares of First Financial Corporation Indiana from a "buy" rating to a "neutral" rating and set a $90.00 price objective for the company. in a report on Friday, August 7th. Capital One Financial set a $90.00 price objective on First Financial Corporation Indiana in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated 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. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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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