Wall Street Zen Downgrades First Savings Financial Group (NASDAQ:FSFG) to Hold

Key Points

• First Savings Financial Group's stock was downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting changing analyst sentiments.
• Despite the downgrade, Piper Sandler and Hovde Group have positioned the company with upgraded price targets, suggesting underlying confidence, with targets of $32.00 and $34.00, respectively.
• First Savings Financial Group reported earnings of $0.81 per share in its last quarter, exceeding estimates and indicating strong revenue performance.

Wall Street Zen downgraded shares of First Savings Financial Group (NASDAQ:FSFG - Free Report) from a buy rating to a hold rating in a report issued on Sunday morning.

Other analysts have also issued reports about the company. Piper Sandler boosted their price target on First Savings Financial Group from $30.00 to $32.00 and gave the company an "overweight" rating in a report on Tuesday, April 29th. Hovde Group raised First Savings Financial Group from a "market perform" rating to an "outperform" rating and set a $34.00 target price on the stock in a research report on Tuesday, May 6th. Finally, Maxim Group lifted their target price on First Savings Financial Group from $28.00 to $31.00 and gave the company a "buy" rating in a research report on Monday, April 28th.

First Savings Financial Group Trading Down 1.4%

FSFG traded down $0.38 during mid-day trading on Friday, reaching $27.10. The stock had a trading volume of 5,831 shares, compared to its average volume of 22,364. The stock has a market capitalization of $189.16 million, a P/E ratio of 8.77 and a beta of 0.40. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.07 and a current ratio of 1.16. The firm's fifty day simple moving average is $25.54 and its two-hundred day simple moving average is $25.44. First Savings Financial Group has a 52 week low of $21.63 and a 52 week high of $30.94.

First Savings Financial Group (NASDAQ:FSFG - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.09. First Savings Financial Group had a return on equity of 10.60% and a net margin of 14.92%. The business had revenue of $21.25 million during the quarter, compared to analysts' expectations of $16.94 million. On average, equities analysts predict that First Savings Financial Group will post 2.45 EPS for the current year.

First Savings Financial Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, June 13th. First Savings Financial Group's dividend payout ratio is presently 20.71%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FSFG. Geode Capital Management LLC raised its position in shares of First Savings Financial Group by 112.2% in the 2nd quarter. Geode Capital Management LLC now owns 129,685 shares of the bank's stock worth $3,248,000 after acquiring an additional 68,561 shares in the last quarter. Susquehanna International Group LLP raised its position in shares of First Savings Financial Group by 617.6% in the 4th quarter. Susquehanna International Group LLP now owns 71,617 shares of the bank's stock worth $1,902,000 after acquiring an additional 61,637 shares in the last quarter. Cerity Partners LLC raised its position in shares of First Savings Financial Group by 1.8% in the 4th quarter. Cerity Partners LLC now owns 69,621 shares of the bank's stock worth $1,849,000 after acquiring an additional 1,200 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Savings Financial Group by 27.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 61,169 shares of the bank's stock worth $1,624,000 after acquiring an additional 13,175 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of First Savings Financial Group by 91.2% in the 4th quarter. Renaissance Technologies LLC now owns 56,800 shares of the bank's stock valued at $1,509,000 after buying an additional 27,100 shares during the period. 35.22% of the stock is owned by institutional investors.

First Savings Financial Group Company Profile

First Savings Financial Group, Inc operates as the bank holding company for First Savings Bank that provides various financial services to consumers and businesses in southern Indiana. The company operates through three segments: Core Banking, SBA Lending, and Mortgage Banking. It accepts deposits, such as checking accounts, NOW and money market accounts, regular savings accounts, and time deposits.