First Financial (NASDAQ:THFF) Upgraded to Outperform at Raymond James

Raymond James upgraded shares of First Financial (NASDAQ:THFF) from a market perform rating to an outperform rating in a report released on Thursday, MarketBeat reports. The brokerage currently has $54.00 price target on the bank’s stock.

First Financial Stock Up 0.3 %

Shares of NASDAQ THFF traded up $0.13 during midday trading on Thursday, reaching $46.11. 19,652 shares of the company’s stock traded hands, compared to its average volume of 46,498. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $47.08 and its 200-day simple moving average is $43.10. First Financial has a one year low of $34.58 and a one year high of $51.87. The company has a market cap of $544.47 million, a price-to-earnings ratio of 12.50 and a beta of 0.50.

First Financial (NASDAQ:THFF) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.17). First Financial had a net margin of 14.86% and a return on equity of 8.10%. The business had revenue of $82.92 million for the quarter, compared to the consensus estimate of $57.95 million. On average, analysts predict that First Financial will post 3.92 EPS for the current fiscal year.

First Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 4.42%. This is an increase from First Financial’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, January 3rd. First Financial’s dividend payout ratio (DPR) is 48.78%.

Institutional Investors Weigh In On First Financial

Several institutional investors have recently bought and sold shares of THFF. Dean Investment Associates LLC acquired a new stake in First Financial in the third quarter valued at approximately $2,856,000. AQR Capital Management LLC lifted its stake in shares of First Financial by 15.6% during the second quarter. AQR Capital Management LLC now owns 302,323 shares of the bank’s stock worth $11,150,000 after buying an additional 40,726 shares during the period. Millennium Management LLC lifted its stake in shares of First Financial by 81.2% during the second quarter. Millennium Management LLC now owns 73,144 shares of the bank’s stock worth $2,698,000 after buying an additional 32,783 shares during the period. American Century Companies Inc. lifted its stake in shares of First Financial by 19.5% during the second quarter. American Century Companies Inc. now owns 190,126 shares of the bank’s stock worth $7,012,000 after buying an additional 30,986 shares during the period. Finally, CM Management LLC lifted its stake in shares of First Financial by 185.7% during the second quarter. CM Management LLC now owns 40,000 shares of the bank’s stock worth $1,475,000 after buying an additional 26,000 shares during the period. 72.74% of the stock is currently owned by institutional investors and hedge funds.

First Financial Company Profile

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.