StockNews.com Upgrades First Savings Financial Group (NASDAQ:FSFG) to Strong-Buy

StockNews.com upgraded shares of First Savings Financial Group (NASDAQ:FSFG) from a buy rating to a strong-buy rating in a research note published on Tuesday morning.

Several other brokerages have also issued reports on FSFG. Piper Sandler lifted their target price on shares of First Savings Financial Group from $27.50 to $31.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Hovde Group initiated coverage on shares of First Savings Financial Group in a research note on Wednesday, September 11th. They issued a “market perform” rating and a $24.00 price target on the stock.

First Savings Financial Group Price Performance

Shares of NASDAQ:FSFG traded up $0.04 during midday trading on Tuesday, reaching $28.85. 7,542 shares of the company’s stock traded hands, compared to its average volume of 7,668. The company has a fifty day simple moving average of $24.87 and a two-hundred day simple moving average of $20.97. First Savings Financial Group has a 1 year low of $13.20 and a 1 year high of $29.05. The company has a market cap of $198.49 million, a P/E ratio of 14.55 and a beta of 0.72. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.16.

First Savings Financial Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.60 dividend on an annualized basis and a yield of 2.08%. First Savings Financial Group’s payout ratio is currently 30.30%.

Institutional Investors Weigh In On First Savings Financial Group

A number of large investors have recently modified their holdings of FSFG. Empowered Funds LLC boosted its position in First Savings Financial Group by 8.0% during the first quarter. Empowered Funds LLC now owns 29,930 shares of the bank’s stock worth $501,000 after acquiring an additional 2,209 shares during the last quarter. Cerity Partners LLC lifted its stake in First Savings Financial Group by 166.0% in the 3rd quarter. Cerity Partners LLC now owns 68,421 shares of the bank’s stock worth $1,629,000 after purchasing an additional 42,696 shares in the last quarter. Finally, Fourthstone LLC boosted its holdings in shares of First Savings Financial Group by 166.2% during the 3rd quarter. Fourthstone LLC now owns 214,671 shares of the bank’s stock worth $5,111,000 after purchasing an additional 134,029 shares during the last quarter. Hedge funds and other institutional investors own 35.22% of the company’s stock.

First Savings Financial Group Company Profile

First Savings Financial Group, Inc operates as the bank holding company for First Savings Bank that provides various financial services to consumers and businesses in southern Indiana. The company operates through three segments: Core Banking, SBA Lending, and Mortgage Banking. It accepts deposits, such as checking accounts, NOW and money market accounts, regular savings accounts, and time deposits.