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

First Financial Co. (NASDAQ:THFF - Get Free Report) experienced a notable decrease in short interest for the month of January. By January 31st, short interest amounted to 48,100 shares, reflecting a reduction of 18.1% from the 58,700 shares reported on January 15th. Currently, about 0.4% of First Financial's shares are sold short. With an average daily trading volume of 55,200 shares, the days-to-cover ratio stands at 0.9 days.

Insider Buying Activity

In recent transactions, insider Mark Allen Franklin purchased 1,100 shares of the company's stock on February 12th. He acquired these shares at an average price of $52.53 each, totaling $57,783. After this purchase, Franklin's direct ownership in the company increased to 9,845 shares, valued at approximately $517,157.85. This acquisition marked a 12.58% rise in his stock ownership. The details of this transaction can be accessed via a filing with the SEC. Moreover, in the past three months, insiders have bought a total of 1,196 shares, valued at $62,696. Currently, corporate insiders possess 3.69% of the company's total stock.

Institutional Activity

Institutional investors have shown varied interest in First Financial by either increasing or decreasing their holdings. During the third quarter, JPMorgan Chase & Co. boosted its investment in First Financial by 10.7%, now holding 230,332 shares worth $10,100,000 after purchasing an additional 22,287 shares. Meanwhile, Barclays PLC raised its stake by 62.1%, acquiring 37,457 shares valued at $1,643,000 through a purchase of 14,349 shares in the last quarter. Creative Planning also increased its position by 57.1%, now owning 47,665 shares worth $2,090,000 after buying 17,322 shares. Dean Investment Associates LLC entered a new investment in First Financial, valued at around $2,856,000. Additionally, Geode Capital Management LLC increased its holdings by 1.8%, owning 273,544 shares after acquiring 4,743 additional shares in the last quarter. Overall, hedge funds and institutional investors hold 72.74% of the company's shares.

Stock Performance

As of the latest trading session, THFF stock was priced at $51.97. The company maintains a market capitalization of $613.77 million and has a price-to-earnings (P/E) ratio of 12.99, with a beta of 0.51. In the past year, the stock has seen a low of $34.58 and a high of $53.60. Current moving averages show a 50-day at $47.87 and a 200-day at $45.67. The firm has a debt-to-equity ratio of 0.05, alongside a current ratio and quick ratio of 0.79 each.

Recently, on February 4th, First Financial reported its quarterly earnings, delivering an EPS of $1.37, which surpasses analysts' expectations of $1.29 by $0.08. The bank exhibited 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 Announcement

First Financial also announced a recent quarterly dividend that was paid on January 15th. Shareholders on record as of January 3rd received a dividend of $0.51 per share, an increase from the previous $0.45 per share. The ex-dividend date was January 3rd, which translates to an annual dividend of $2.04 and a yield of 3.93%. The company holds a dividend payout ratio of 51.00%.

Analyst Ratings

Several analysts have recently provided their insights on First Financial. Keefe, Bruyette & Woods reiterated a "market perform" rating for the company, increasing the price target to $55.00 from the previous $52.00 in a report on February 6th. Moreover, Raymond James upgraded First Financial's rating from "market perform" to "outperform" and set a new price target of $54.00 as of December 19th.

About First Financial

First Financial Corporation, through its subsidiaries, offers a range of financial services. The company’s offerings include various deposit accounts such as non-interest-bearing and interest-bearing demand deposits, savings, and time deposits. Additionally, they provide commercial loans aimed at business expansion and asset purchases, along with residential real estate loans, home equity lines, secured loans, and cash or CD secured loans.

First, Financial, Stock