First Financial (NASDAQ:THFF) Reaches New 52-Week High on Strong Earnings

Shares of First Financial Co. (NASDAQ:THFF) reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. 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 for the quarter, topping the consensus estimate of $1.29 by $0.08. First Financial had a return on equity of 8.10% and a net margin of 14.86%.

First Financial Increases Dividend

The business also recently announced 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 a boost from First Financial’s previous quarterly dividend of $0.45. This represents a $2.04 annualized dividend and a yield of 3.92%. The ex-dividend date was Friday, January 3rd. First Financial’s dividend payout ratio is presently 51.00%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On First Financial

Several large investors have recently modified their holdings of the business. Versant Capital Management Inc purchased a new position in First Financial during the fourth quarter worth about $25,000. R Squared Ltd purchased a new stake in First Financial in the fourth quarter valued at approximately $73,000. FMR LLC lifted its stake in First Financial by 420.3% during 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 in the last quarter. Ieq Capital LLC purchased a new position in shares of First Financial during the fourth quarter worth $205,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of First Financial in the third quarter valued at $230,000. Institutional investors and hedge funds own 72.74% of the company’s stock.

First Financial Price Performance

The company has a fifty day moving average of $47.44 and a 200-day moving average of $45.33. The stock has a market cap of $614.02 million, a PE ratio of 14.09 and a beta of 0.51. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05.

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.