First Financial (NASDAQ:THFF) Sets New 12-Month High Following Better-Than-Expected Earnings

First Financial Co. (NASDAQ:THFF)’s stock price reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $52.00 and last traded at $52.00, with a volume of 76804 shares traded. The stock had previously closed at $50.00.

The bank reported $1.37 EPS for the quarter, topping 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 company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd were given a $0.51 dividend. This is an increase from First Financial’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 3.92%. First Financial’s dividend payout ratio is presently 51.00%.

Wall Street Analyst Weigh In

Separately, Raymond James upgraded shares of First Financial from a “market perform” rating to an “outperform” rating and set a $54.00 price objective on the stock in a research note on Thursday, December 19th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc purchased a new stake in First Financial in the 4th quarter valued at $25,000. R Squared Ltd purchased a new position in shares of First Financial during the fourth quarter worth approximately $73,000. FMR LLC grew its holdings in shares of First Financial by 420.3% in the third quarter. FMR LLC now owns 3,918 shares of the bank’s stock worth $172,000 after purchasing an additional 3,165 shares during the last quarter. Ieq Capital LLC purchased a new position in shares of First Financial in the fourth quarter valued at about $205,000. Finally, Janus Henderson Group PLC bought a new stake in shares of First Financial in the third quarter worth about $230,000. 72.74% of the stock is owned by institutional investors.

First Financial Stock Performance

The company has a 50-day simple moving average of $47.44 and a two-hundred day simple moving average of $45.33. The firm has a market capitalization of $614.02 million, a P/E ratio of 14.09 and a beta of 0.51. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.79 and a current ratio of 0.79.

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.