First Financial (NASDAQ:THFF) Reaches New 1-Year High After Better-Than-Expected Earnings

First Financial Co. (NASDAQ:THFF) shares reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $52.00 and last traded at $52.00, with a volume of 76804 shares changing hands. The stock had previously closed at $50.00.

The bank reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.08. First Financial had a net margin of 14.86% and a return on equity of 8.10%.

First Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd were issued a $0.51 dividend. This is an increase from First Financial’s previous quarterly dividend of $0.45. This represents a $2.04 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend was Friday, January 3rd. First Financial’s payout ratio is currently 55.28%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $55.00 price target (up from $52.00) on shares of First Financial in a report on Thursday. Raymond James raised shares of First Financial from a “market perform” rating to an “outperform” rating and set a $54.00 price objective for the company in a research note on Thursday, December 19th.

Hedge Funds Weigh In On First Financial

A number of institutional investors and hedge funds have recently made changes to their positions in THFF. Versant Capital Management Inc purchased a new position in shares of First Financial in the 4th quarter worth $25,000. R Squared Ltd purchased a new position in shares of First Financial in the 4th quarter worth $73,000. FMR LLC grew its stake in shares of First Financial by 420.3% in the 3rd quarter. FMR LLC now owns 3,918 shares of the bank’s stock worth $172,000 after buying an additional 3,165 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of First Financial in the 4th quarter worth $205,000. Finally, Janus Henderson Group PLC purchased a new position in shares of First Financial in the 3rd quarter worth $230,000. 72.74% of the stock is owned by hedge funds and other institutional investors.

First Financial Stock Up 0.6 %

The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $47.50 and its 200 day simple moving average is $45.37. The firm has a market capitalization of $617.78 million, a PE ratio of 14.18 and a beta of 0.50.

About First Financial

First Financial Corporation, through its subsidiaries, provides various financial services. The company offers non-interest-bearing demand, interest-bearing demand, savings, time, and other time deposits. It also provides commercial loans primarily to expand a business or finance asset purchases; residential real estate and residential real estate construction loans; and home equity loans and lines, secured loans, and cash/CD secured and unsecured loans.