Short Interest in First Financial Co. (NASDAQ:THFF) Sees 16.4% Decline

First Financial Co. (NASDAQ:THFF) experienced a significant decrease in short interest during January. As of January 15th, the total short interest was 52,100 shares, marking a drop of 16.4% from the 62,300 shares reported on December 31st. With an average daily trading volume of 50,300 shares, the current short-interest ratio stands at 1.0 days. This means that about 0.5% of the company's shares have been sold short.

Short Interest Overview

The recent decline in short interest could indicate a more favorable view of the company's stock among investors. A lower short interest often suggests that they anticipate a stable or upward movement in stock prices. First Financial has been actively traded in the market, adding to its appeal among investors.

First Financial Stock Performance

During trading on Friday, First Financial's stock rose by $0.20, reaching $48.19. The trading volume for the day was 45,047 shares, slightly below the average volume of 47,477. Over the past 50 days, the simple moving average for the stock is $47.51, while the 200-day moving average is $45.20. The company's stock has a one-year low of $34.58 and a high of $51.87. Currently, First Financial has a market capitalization of $569.12 million, a PE ratio of 13.06, and a beta of 0.51. The financial stability is reflected in its quick and current ratios, both at 0.79, and its low debt-to-equity ratio of 0.05.

Dividend Increase Announcement

In addition to the decline in short interest, First Financial recently announced an increase in its quarterly dividend, paid on January 15th. Shareholders who were on record by January 3rd received a dividend of $0.51 per share, which indicates an annualized dividend of $2.04 and a yield of 4.23%. This is an increase from the previous dividend of $0.45 per share. The company's dividend payout ratio now stands at 55.28%.

Institutional Investment Activity

There's been notable activity from institutional investors regarding First Financial. Recently, several large investors have increased their stakes in the company. For instance, Versant Capital Management Inc. acquired a new position valued at approximately $25,000 in the fourth quarter, and R Squared Ltd added about $73,000 during the same period. Notably, FMR LLC raised its holdings in First Financial by an impressive 420.3% during the third quarter, now owning 3,918 shares valued at about $172,000. Additionally, Janus Henderson Group PLC invested around $230,000, and Connor Clark & Lunn Investment Management Ltd. invested about $279,000 in the bank's stock. Overall, institutional investors control approximately 72.74% of First Financial's shares.

Analysts’ Updated Price Targets

In a related move, analysts from Raymond James upgraded First Financial from a "market perform" rating to an "outperform" rating and set a target price of $54.00. This positive assessment reflects confidence in the company’s growth and market performance.

Company Profile

First Financial Corporation offers a variety of financial services through its subsidiaries. They provide a mix of deposit accounts, loans, and other banking services. The company is particularly active in commercial loans, residential real estate financing, and home equity options.

View Our Latest Analysis on First Financial

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