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

First Financial Co. (NASDAQ:THFF) experienced a notable decline in short interest during January. By January 31st, the total short interest had dropped to 48,100 shares, which is an 18.1% decrease from the earlier total of 58,700 shares reported on January 15th. Currently, around 0.4% of the company's shares are being sold short, and the days-to-cover ratio stands at 0.9 days based on the average daily trading volume of 55,200 shares.

Insider Transactions

In recent insider news, Mark Allen Franklin, an executive of the company, purchased 1,100 shares of First Financial's stock on February 12th at an average price of $52.53 per share. This transaction amounted to a total investment of $57,783. Following this purchase, Franklin now holds 9,845 shares of the company, which are currently valued at approximately $517,157.85. This transaction marks a 12.58% increase in his ownership stake. Details of this transaction have been filed with the SEC and are publicly available. In the last quarter, insiders have collectively purchased 1,196 shares of the company, valued at $62,696. Overall, corporate insiders own about 3.69% of First Financial's total stock.

Institutional Investor Activity

Institutional investors are actively adjusting their positions in First Financial. Notably, JPMorgan Chase & Co. increased its holdings by 10.7% during the third quarter, acquiring an additional 22,287 shares, bringing its total to 230,332 shares valued at $10,100,000. Similarly, Barclays PLC raised its stakes by 62.1%, adding 14,349 shares to a total of 37,457 shares, valued at $1,643,000. Creative Planning also boosted its holdings by 57.1%, bringing its total to 47,665 shares worth $2,090,000 after acquiring an additional 17,322 shares. Dean Investment Associates LLC made a new investment in First Financial during the same quarter, with a stake valued at approximately $2,856,000. Lastly, Geode Capital Management LLC increased its position by 1.8%, holding 273,544 shares worth $11,997,000 following a purchase of 4,743 shares. Collectively, institutional investors hold 72.74% of the company’s stock.

Current Stock Performance

The stock of First Financial opened at $51.97 on the market recently. The company boasts a market capitalization of $613.77 million, a PE ratio of 12.99, and a beta of 0.51. Over the past year, the stock has seen a low of $34.58 and a high of $53.60. The average prices for the firm's stocks over the last 50 and 200 days were $47.87 and $45.67, respectively. Financially, the company shows a debt-to-equity ratio of 0.05, with current and quick ratios both recorded at 0.79.

Earnings Announcement

Most recently, First Financial reported its quarterly earnings on February 4th, posting earnings per share (EPS) of $1.37, which surpassed analysts' expectations of $1.29 by $0.08. The bank recorded a net margin of 15.37% along with a return on equity of 8.77%. Analysts forecast that the company is expected to reach an EPS of 5.41 for the current year.

Dividend Increase

In addition, First Financial announced an increase in its quarterly dividend, which was paid out on January 15th, with a dividend of $0.51 per share for shareholders on record as of January 3rd. This increase follows the company’s previous quarterly dividend, which was set at $0.45. The ex-dividend date was also on January 3rd. This results in an annualized dividend payout of $2.04, yielding about 3.93%, with a payout ratio of 51.00%.

Analyst Ratings Review

Recently, analysts have been assessing First Financial's stock. On February 6th, Keefe, Bruyette & Woods reaffirmed a “market perform” rating while increasing the price target from $52.00 to $55.00. Raymond James also upgraded the stock from a “market perform” to an “outperform” rating, setting a target price of $54.00 on December 19th.

Company Overview

First Financial Corporation, through its subsidiaries, offers a range of financial services. These services include non-interest-bearing demand deposits, interest-bearing accounts, savings options, commercial loans, residential real estate loans, and home equity lines of credit. They facilitate both secured and unsecured loans.

Financial, Stocks, Investment