Cornercap Investment Counsel Inc. Acquires New Stake in First Financial Co. (NASDAQ:THFF)

Cornercap Investment Counsel Inc. bought a new position in shares of First Financial Co. (NASDAQ:THFF) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 8,858 shares of the bank’s stock, valued at approximately $409,000. Cornercap Investment Counsel Inc. owned about 0.08% of First Financial as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in First Financial by 10.7% during the third quarter. JPMorgan Chase & Co. now owns 230,332 shares of the bank’s stock worth $10,100,000 after acquiring an additional 22,287 shares during the last quarter. Barclays PLC boosted its holdings in shares of First Financial by 62.1% during the 3rd quarter. Barclays PLC now owns 37,457 shares of the bank’s stock worth $1,643,000 after purchasing an additional 14,349 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of First Financial by 73.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,009 shares of the bank’s stock worth $509,000 after purchasing an additional 4,650 shares during the last quarter. Dean Investment Associates LLC purchased a new stake in shares of First Financial in the third quarter valued at approximately $2,856,000. Finally, Geode Capital Management LLC increased its holdings in shares of First Financial by 1.8% in the third quarter. Geode Capital Management LLC now owns 273,544 shares of the bank’s stock valued at $11,997,000 after purchasing an additional 4,743 shares during the last quarter. Hedge funds and other institutional investors own 72.74% of the company’s stock.

First Financial Price Performance

NASDAQ:THFF opened at $49.09 on Friday. First Financial Co. has a 52 week low of $34.58 and a 52 week high of $53.60. The stock’s fifty day moving average is $50.04 and its two-hundred day moving average is $47.33. The company has a market capitalization of $581.86 million, a P/E ratio of 12.27 and a beta of 0.49. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.05.

First Financial (NASDAQ:THFF) last issued its quarterly earnings data on Tuesday, February 4th. The bank reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.08. First Financial had a net margin of 15.37% and a return on equity of 8.77%. Equities analysts expect that First Financial Co. will post 5.41 EPS for the current year.

First Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.51 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 4.16%. First Financial’s payout ratio is currently 51.00%.

Insider Buying and Selling

In other news, insider Mark Allen Franklin purchased 1,100 shares of the stock in a transaction dated Wednesday, February 12th. The stock was acquired at an average cost of $52.53 per share, for a total transaction of $57,783.00. Following the completion of the transaction, the insider now directly owns 9,845 shares in the company, valued at approximately $517,157.85. This represents a 12.58 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James O. Mcdonald acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average price of $48.99 per share, for a total transaction of $48,990.00. Following the acquisition, the director now directly owns 9,462 shares in the company, valued at approximately $463,543.38. This trade represents a 11.82 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 2,195 shares of company stock valued at $111,625. Company insiders own 3.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $55.00 target price (up from $52.00) on shares of First Financial in a report on Thursday, February 6th. Raymond James raised shares of First Financial from a “market perform” rating to an “outperform” rating and set a $54.00 price objective for the company in a report on Thursday, December 19th. Finally, Janney Montgomery Scott raised shares of First Financial from a “neutral” rating to a “buy” rating and set a $58.00 target price on the stock in a research note on Monday, February 24th.

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.