First Financial Co. (NASDAQ:THFF) Sees Large Decline in Short Interest

First Financial Co. (NASDAQ:THFF) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totalling 52,100 shares, a drop of 16.4% from the December 15th total of 62,300 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 50,300 shares, the days-to-cover ratio is presently 1.0 days.

First Financial Stock Up 0.6 %

NASDAQ THFF traded up $0.28 on Friday, hitting $46.44. 54,786 shares of the company were exchanged, compared to its average volume of 38,445. First Financial has a 12 month low of $34.58 and a 12 month high of $51.87. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.05. The company has a market cap of $548.46 million, a PE ratio of 12.59 and a beta of 0.51. The stock has a fifty day moving average of $47.78 and a 200-day moving average of $44.57.

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

First Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, January 3rd were given a dividend of $0.51 per share. This is a boost from First Financial’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 4.39%. First Financial’s payout ratio is presently 55.28%.

Institutional Trading of First Financial

Several institutional investors have recently made changes to their positions in THFF. Dean Investment Associates LLC bought a new stake in shares of First Financial during the 3rd quarter worth $2,856,000. AQR Capital Management LLC raised its position in First Financial by 15.6% in the second quarter. AQR Capital Management LLC now owns 302,323 shares of the bank’s stock worth $11,150,000 after acquiring an additional 40,726 shares during the period. Millennium Management LLC boosted its stake in First Financial by 81.2% in the second quarter. Millennium Management LLC now owns 73,144 shares of the bank’s stock valued at $2,698,000 after acquiring an additional 32,783 shares during the last quarter. American Century Companies Inc. grew its position in shares of First Financial by 19.5% during the 2nd quarter. American Century Companies Inc. now owns 190,126 shares of the bank’s stock valued at $7,012,000 after acquiring an additional 30,986 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of First Financial by 10.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 230,332 shares of the bank’s stock worth $10,100,000 after purchasing an additional 22,287 shares during the last quarter. Institutional investors own 72.74% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James upgraded First Financial from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a report on Thursday, December 19th.

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.