First Financial Co. (NASDAQ:THFF) Sees Short Interest Decline by 18.1% in January

First Financial Co. (NASDAQ:THFF) experienced a notable drop in short interest throughout January. By the close of January 31st, the total short interest stood at 48,100 shares, reflecting a decrease of 18.1% from the 58,700 shares reported on January 15th. Currently, short sales account for approximately 0.4% of the company's total shares. With an average daily trading volume of 55,200 shares, the current days-to-cover ratio is 0.9 days.

Insider Transactions

In other company news, insider Mark Allen Franklin purchased 1,100 shares on February 12th, for an average price of $52.53 per share, resulting in a total investment of $57,783. This acquisition increased the insider's total ownership to 9,845 shares, worth about $517,157.85. The transaction represented a 12.58% rise in their stake in the company. The SEC filings disclose these transactions. Over the past three months, corporate insiders have acquired a total of 1,196 shares with a value of $62,696. Insiders now hold 3.69% of the company's total stock.

Institutional Stake Movements

Recent changes in institutional investor positions have also been noted. JPMorgan Chase & Co. increased its stake in First Financial by 10.7% during the third quarter, now owning 230,332 shares valued at $10.1 million after adding 22,287 shares. Barclays PLC has significantly raised its holdings in First Financial by 62.1%, now possessing 37,457 shares worth approximately $1.64 million following an additional 14,349 shares purchase. Similarly, Creative Planning has boosted its position by 57.1%, acquiring an extra 17,322 shares. Dean Investment Associates LLC invested in First Financial for around $2.86 million, and Geode Capital Management LLC has raised its stake by 1.8%, owning 273,544 shares worth nearly $12 million. In total, hedge funds and institutional investors control 72.74% of the company's stocks.

Stock Performance Update

On the trading front, THFF shares were priced at $51.97 as of the last Friday. The company boasts a market capitalization of $613.77 million, a PE ratio of 12.99, and a beta value of 0.51. Over the past year, First Financial has fluctuated between a low of $34.58 and a high of $53.60. The firm's 50-day moving average is $47.87, while the 200-day moving average is $45.67. The company maintains a debt-to-equity ratio of 0.05, with both current and quick ratios at 0.79.

Earnings Announcement

First Financial reported its latest quarterly earnings on February 4th, showcasing earnings per share (EPS) of $1.37, surpassing the expected $1.29 EPS by $0.08. The bank recorded a net margin of 15.37% and a return on equity of 8.77%. Analysts predict that First Financial will achieve an EPS of 5.41 for the current fiscal year.

Dividend Increase

The company has also announced a recent dividend increase, with its quarterly dividend of $0.51 per share paid on January 15th. This marks an increase from the previous dividend of $0.45. The ex-dividend date was set for January 3rd. This translates to an annualized dividend of $2.04, giving a yield of 3.93%. First Financial's dividend payout ratio stands at 51%.

Analyst Ratings Update

In terms of analyst evaluations, several firms have provided updates. Keefe, Bruyette & Woods reaffirmed a "market perform" rating while elevating their price target from $52.00 to $55.00. Meanwhile, Raymond James upgraded its rating from "market perform" to "outperform" and set a price target of $54.00 for First Financial shares.

About First Financial

First Financial Corporation, through its subsidiaries, offers a variety of financial services including non-interest-bearing demand deposits, interest-bearing demand accounts, savings accounts, and time deposits. The company also provides commercial loans aimed at business expansion and asset financing, as well as residential real estate loans, home equity products, and both secured and unsecured lending options.

Financial, Stocks, Investors