First Financial Corporation Indiana (NASDAQ:THFF) Coverage Initiated by Analysts at Hovde Group

Hovde Group began coverage on shares of First Financial Corporation Indiana (NASDAQ:THFF) in a research note published on Monday, MarketBeat reports. The firm issued an outperform rating and a $85.00 target price on the bank’s stock.

A number of other brokerages also recently weighed in on THFF. Brean Capital downgraded 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. Keefe, Bruyette & Woods increased their price objective on shares of First Financial Corporation Indiana from $78.00 to $84.00 and gave the stock a “market perform” rating in a research note on Friday, August 28th. Capital One Financial set a $90.00 target price on shares of First Financial Corporation Indiana in a report on Friday, August 7th. Weiss Ratings restated a “buy (a-)” rating on shares of First Financial Corporation Indiana in a research note on Friday, July 24th. Finally, Raymond James Financial started coverage on First Financial Corporation Indiana in a research note on Thursday, July 9th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Financial Corporation Indiana currently has a consensus rating of “Moderate Buy” and an average price target of $87.25.

First Financial Corporation Indiana Stock Up 1.2%

THFF stock opened at $73.63 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.88. First Financial Corporation Indiana has a 1-year low of $51.21 and a 1-year high of $84.17. The firm has a fifty day moving average price of $77.90 and a two-hundred day moving average price of $73.34. The firm has a market cap of $875.61 million, a price-to-earnings ratio of 10.31 and a beta of 0.44.

First Financial Corporation Indiana (NASDAQ:THFF) last issued its earnings results on Tuesday, July 28th. The bank reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.12. First Financial Corporation Indiana had a net margin of 23.32% and a return on equity of 13.02%. The company had revenue of $71.87 million for the quarter, compared to analysts’ expectations of $72.84 million. Research analysts predict that First Financial Corporation Indiana will post 7.54 EPS for the current year.

First Financial Corporation Indiana Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 1st will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Thursday, October 1st. First Financial Corporation Indiana’s dividend payout ratio is presently 31.37%.

Institutional Investors Weigh In On First Financial Corporation Indiana

Large investors have recently added to or reduced their stakes in the stock. Burney Co. boosted its stake in First Financial Corporation Indiana by 3.2% during the 1st quarter. Burney Co. now owns 6,945 shares of the bank’s stock valued at $439,000 after purchasing an additional 215 shares during the period. Diversified Trust Co grew its position in First Financial Corporation Indiana by 11.6% in the 1st quarter. Diversified Trust Co now owns 3,948 shares of the bank’s stock worth $250,000 after purchasing an additional 410 shares during the last quarter. PNC Financial Services Group Inc. grew its position in First Financial Corporation Indiana by 30.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,045 shares of the bank’s stock worth $129,000 after purchasing an additional 479 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in First Financial Corporation Indiana by 13.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,351 shares of the bank’s stock worth $338,000 after purchasing an additional 630 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of First Financial Corporation Indiana by 1.7% in the first quarter. First Trust Advisors LP now owns 49,386 shares of the bank’s stock valued at $3,121,000 after purchasing an additional 823 shares during the period. 72.74% of the stock is owned by institutional investors and hedge funds.

About First Financial Corporation Indiana

First Financial Corporation (NASDAQ: THFF) 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 institutions.

First Financial Bank offers deposit accounts, consumer and commercial lending, residential mortgage services, cash-management and treasury services, online and mobile banking, and investment and trust services. Through its wealth-management operations, the company also provides financial planning, investment management, and fiduciary services.

The bank traces its history to 1834 and serves customers through a network of banking offices and digital channels in western and central Indiana and eastern Illinois.