First Savings Financial Group Receives Downgrade from StockNews.com

First Savings Financial Group (NASDAQ:FSFG) recently experienced a noteworthy change in its stock rating. On Tuesday, analysts at StockNews.com downgraded the company's shares from a "strong-buy" rating to a "buy" rating in a research report.

In addition to StockNews.com's revision, other financial research firms have also provided updates regarding FSFG. For example, on October 30th, Piper Sandler raised their price target for First Savings Financial Group from $27.50 to $31.00, assigning the company an "overweight" rating for potential growth. Meanwhile, Hovde Group initiated coverage for FSFG on September 11th, giving it a "market perform" rating along with a price objective of $24.00.

Current Stock Performance Metrics

On Tuesday, during mid-day trading, shares of NASDAQ: FSFG declined by $0.43, reaching a value of $28.42. The trading volume for the day was recorded at 8,866 shares, which is slightly lower than the average volume of 9,128 shares. The company maintains a current ratio of 1.16, a quick ratio of 1.09, and a debt-to-equity ratio of 2.83. Over the past year, First Savings Financial Group's stock reached a low of $14.55 and peaked at $30.94. Currently, the company's market capitalization stands at $195.64 million, with a price-to-earnings ratio of 14.35 and a beta of 0.73. As of now, the stock's 50-day moving average price is $27.64, while the 200-day moving average price is $23.21.

Institutional Investors' Activity

Recent trading activity around First Savings Financial Group has also involved institutional investors and hedge funds. For instance, Empowered Funds LLC increased their holdings in the company by 5.3% during the third quarter, now owning 32,198 shares of FSFG worth $767,000 after acquiring an additional 1,608 shares in the last quarter. Cerity Partners LLC notably raised their stake in FSFG by an impressive 166.0% during the same period, now holding 68,421 shares valued at $1,629,000 after purchasing 42,696 more shares. Additionally, Barclays PLC expanded its investment in First Savings Financial Group, growing its position by 72.9% during the third quarter, holding 3,396 shares worth $81,000 after adding 1,432 shares to its portfolio. Furthermore, Geode Capital Management LLC and Fourthstone LLC also increased their holdings in First Savings Financial Group, bringing the total institutional ownership of the stock to 35.22%.

About First Savings Financial Group

First Savings Financial Group, Inc. serves as a bank holding company for First Savings Bank, providing a variety of financial services to both individual and business clients primarily in southern Indiana. The company operates through three main segments: Core Banking, SBA Lending, and Mortgage Banking, and it offers services that include deposit accounts such as checking accounts, money market accounts, regular savings accounts, and time deposits.

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