First Financial Corporation Indiana (NASDAQ:THFF) Sees Large Volume Increase on Strong Earnings

First Financial Corporation Indiana (NASDAQ:THFF) saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 101,036 shares traded hands during 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, topping the consensus estimate of $2.03 by $0.28. The company had revenue of $74.96 million during the quarter, compared to analyst estimates of $75.31 million. First Financial Corporation Indiana had a net margin of 23.32% and a return on equity of 13.02%.

First Financial Corporation Indiana Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were issued a dividend of $0.56 per share. 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%.

Analysts Set New Price Targets

THFF has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on 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. Hovde Group started coverage on shares of First Financial Corporation Indiana in a research report on Monday, October 12th. They set an “outperform” rating and a $85.00 target price for the company. Weiss Ratings restated a “buy (a-)” rating on shares of First Financial Corporation Indiana in a research note on Thursday. Capital One Financial set a $90.00 price objective on First Financial Corporation Indiana in a research report on Friday, August 7th. Finally, Brean Capital cut shares of First Financial Corporation Indiana from a “buy” rating to a “neutral” rating and set a $90.00 price target on the stock. in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.25.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of THFF. Allspring Global Investments Holdings LLC raised its holdings in shares of First Financial Corporation Indiana by 33.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 134,371 shares of the bank’s stock valued at $8,492,000 after acquiring an additional 33,821 shares in the last quarter. Hsbc Holdings PLC raised its stake in First Financial Corporation Indiana by 79.2% in the first quarter. Hsbc Holdings PLC now owns 30,822 shares of the bank’s stock worth $1,968,000 after buying an additional 13,619 shares in the last quarter. Cvfg LLC bought a new position in First Financial Corporation Indiana in the first quarter worth about $714,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of First Financial Corporation Indiana in the 1st quarter worth $654,000. Finally, Renaissance Technologies LLC increased its stake in First Financial Corporation Indiana by 8.9% during the 1st quarter. Renaissance Technologies LLC now owns 116,173 shares of the bank’s stock valued at $7,342,000 after purchasing an additional 9,500 shares in the last quarter. 72.74% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Corporation Indiana Price Performance

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

About First Financial Corporation Indiana

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.