First Financial Corporation Indiana (NASDAQ:THFF) Sees Unusually-High Trading Volume on Better-Than-Expected Earnings

Key Points

• First Financial Corporation Indiana beat earnings expectations: Quarterly EPS was $2.31, versus the $2.03 consensus estimate, although revenue of $74.96 million fell slightly short of forecasts.
• Trading volume rose about 5% above average, and shares climbed to $78.55 from a prior close of $76.46 following the earnings release.
• The company paid a quarterly dividend of $0.56, equivalent to $2.24 annually and a 2.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $87.25, while institutional investors own 72.74% of the stock.

First Financial Corporation Indiana (NASDAQ:THFF - Get Free Report) saw unusually-high trading volume on Tuesday following a better than expected earnings announcement. Approximately 101,036 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 96,366 shares. The stock last traded at $78.5540 and had previously closed at $76.46.

The bank reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.28. First Financial Corporation Indiana had a net margin of 23.32% and a return on equity of 13.02%. The firm had revenue of $74.96 million for the quarter, compared to analyst estimates of $75.31 million.

First Financial Corporation Indiana Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were paid a $0.56 dividend. The ex-dividend date was Thursday, October 1st. This represents a $2.24 annualized dividend and a yield of 2.9%. First Financial Corporation Indiana's dividend payout ratio is currently 31.37%.

Wall Street Analyst Weigh In

THFF has been the subject of a number of research analyst reports. Brean Capital cut 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 research report on Friday, August 7th. Capital One Financial set a $90.00 target price on shares of First Financial Corporation Indiana in a research note on Friday, August 7th. Weiss Ratings reiterated a "buy (a-)" rating on shares of First Financial Corporation Indiana in a research note on Thursday. Raymond James Financial started 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. Finally, Hovde Group started coverage on First Financial Corporation Indiana in a report on Monday, October 12th. They set an "outperform" rating and a $85.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $87.25.

Hedge Funds Weigh In On First Financial Corporation Indiana

A number of hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in shares of First Financial Corporation Indiana by 166.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,867 shares of the bank's stock valued at $212,000 after purchasing an additional 1,793 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of First Financial Corporation Indiana in the 2nd quarter valued at about $523,000. Engineers Gate Manager LP bought a new position in First Financial Corporation Indiana in the second quarter worth approximately $599,000. Integrated Wealth Concepts LLC bought a new position in shares of First Financial Corporation Indiana in the 2nd quarter worth $96,000. Finally, Allianz Asset Management GmbH bought a new position in shares of First Financial Corporation Indiana in the 2nd quarter worth $259,000. Institutional investors and hedge funds own 72.74% of the company's stock.

First Financial Corporation Indiana Price Performance

The firm has a market cap of $934.22 million, a price-to-earnings ratio of 10.93 and a beta of 0.44. The business has a 50 day simple moving average of $76.63 and a 200-day simple moving average of $70.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.88 and a current ratio of 0.88.

First Financial Corporation Indiana Company Profile

First Financial Corporation is a bank holding company headquartered in Terre Haute, Indiana. Its principal subsidiary, First Financial Bank, provides banking and financial services to individuals, families, businesses and organizations.

First Financial Bank offers a range of deposit products, residential and commercial lending, consumer loans, treasury and cash-management services, online and mobile banking, and wealth-management and trust services. The bank also provides insurance and investment-related services through affiliated or partnered offerings.

First Financial Bank traces its history to 1834 and serves communities primarily throughout western and central Indiana and eastern Illinois.

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