First Financial Corporation Indiana (NASDAQ:THFF) Shares Cross Above 200 Day Moving Average on Analyst Downgrade

First Financial Corporation Indiana (NASDAQ:THFF) shares passed above its 200-day moving average during trading on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock has a 200-day moving average of $57.59 and traded as high as $63.25. First Financial Corporation Indiana shares last traded at $62.75, with a volume of 35,323 shares.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods upped their price target on First Financial Corporation Indiana from $61.00 to $62.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. Wall Street Zen cut First Financial Corporation Indiana from a “buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First Financial Corporation Indiana in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $60.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. lifted its position in First Financial Corporation Indiana by 881.0% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 101,335 shares of the bank’s stock valued at $5,491,000 after purchasing an additional 91,005 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of First Financial Corporation Indiana by 932.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 100,550 shares of the bank’s stock worth $6,075,000 after buying an additional 90,813 shares during the last quarter. CSM Advisors LLC acquired a new position in First Financial Corporation Indiana in the second quarter valued at approximately $3,000,000. Vanguard Group Inc. lifted its holdings in First Financial Corporation Indiana by 5.2% in the third quarter. Vanguard Group Inc. now owns 794,984 shares of the bank’s stock valued at $44,869,000 after buying an additional 39,046 shares during the period. Finally, First Trust Advisors LP boosted its stake in First Financial Corporation Indiana by 321.2% in the third quarter. First Trust Advisors LP now owns 47,602 shares of the bank’s stock valued at $2,687,000 after acquiring an additional 36,300 shares during the last quarter. Institutional investors own 72.74% of the company’s stock.

First Financial Corporation Indiana Stock Up 3.7%

The business’s fifty day simple moving average is $60.79 and its 200 day simple moving average is $57.63. The stock has a market cap of $759.11 million, a price-to-earnings ratio of 10.28 and a beta of 0.42. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.27.

First Financial Corporation Indiana (NASDAQ:THFF) last announced its quarterly earnings results on Tuesday, October 28th. The bank reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. The company had revenue of $65.75 million during the quarter, compared to analysts’ expectations of $65.53 million. First Financial Corporation Indiana had a return on equity of 12.70% and a net margin of 21.70%. Equities analysts forecast that First Financial Corporation Indiana will post 5.41 earnings per share for the current fiscal year.

First Financial Corporation Indiana Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.56 per share. This is a boost from First Financial Corporation Indiana’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, January 2nd. This represents a $2.24 dividend on an annualized basis and a yield of 3.5%. First Financial Corporation Indiana’s dividend payout ratio is currently 35.90%.

About First Financial Corporation Indiana

First Financial Corporation Indiana is a bank holding company headquartered in Terre Haute, Indiana, that offers a full suite of financial services to individuals and businesses. Through its subsidiary, First Financial Bank, the company provides traditional banking products including checking and savings accounts, certificates of deposit, and cash management solutions. It also offers consumer and commercial lending services ranging from residential mortgages and home equity lines of credit to working capital loans and equipment financing.

The company’s service offerings extend beyond core banking to include wealth management and trust services, retirement planning, and brokerage solutions.