First Financial Corporation Indiana (NASDAQ:THFF) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of First Financial Corporation Indiana (NASDAQ:THFF) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of First Financial Corporation Indiana from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Keefe, Bruyette & Woods boosted their price target on First Financial Corporation Indiana from $61.00 to $62.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of First Financial Corporation Indiana in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.00.

First Financial Corporation Indiana Stock Performance

Shares of NASDAQ THFF opened at $65.63 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $777.72 million, a price-to-earnings ratio of 10.52 and a beta of 0.42. The stock’s fifty day moving average price is $60.95 and its two-hundred day moving average price is $57.68. First Financial Corporation Indiana has a one year low of $42.05 and a one year high of $65.79.

First Financial Corporation Indiana (NASDAQ:THFF) last announced its earnings results on Tuesday, October 28th. The bank reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. First Financial Corporation Indiana had a net margin of 21.70% and a return on equity of 12.70%. The company had revenue of $65.75 million during the quarter, compared to analysts’ expectations of $65.53 million. On average, equities analysts forecast that First Financial Corporation Indiana will post 5.41 EPS for the current year.

First Financial Corporation Indiana Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd were paid a dividend of $0.56 per share. The ex-dividend date was Friday, January 2nd. This is a boost from First Financial Corporation Indiana’s previous quarterly dividend of $0.51. This represents a $2.24 annualized dividend and a yield of 3.4%. First Financial Corporation Indiana’s dividend payout ratio is currently 35.90%.

Hedge Funds Weigh In On First Financial Corporation Indiana

A number of institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue acquired a new stake in First Financial Corporation Indiana in the third quarter valued at about $27,000. MAI Capital Management acquired a new position in First Financial Corporation Indiana during the second quarter worth about $31,000. EverSource Wealth Advisors LLC lifted its holdings in shares of First Financial Corporation Indiana by 400.0% in the second quarter. EverSource Wealth Advisors LLC now owns 585 shares of the bank’s stock worth $32,000 after acquiring an additional 468 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of First Financial Corporation Indiana by 175.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 592 shares of the bank’s stock valued at $34,000 after purchasing an additional 377 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of First Financial Corporation Indiana in the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds own 72.74% of the company’s stock.

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.