Franklin Resources Inc. Cuts Stake in First Financial Co. (NASDAQ:THFF)

Franklin Resources Inc. reduced its position in First Financial Co. (NASDAQ:THFF) by 1.3% in the third quarter, Holdings Channel.com reports. The fund owned 20,163 shares of the bank’s stock after selling 262 shares during the period. Franklin Resources Inc.’s holdings in First Financial were worth $875,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of First Financial by 420.3% during the 3rd quarter. FMR LLC now owns 3,918 shares of the bank’s stock valued at $172,000 after acquiring an additional 3,165 shares during the last quarter. Janus Henderson Group PLC bought a new stake in First Financial in the 3rd quarter worth approximately $230,000. Quest Partners LLC grew its holdings in shares of First Financial by 6.0% in the second quarter. Quest Partners LLC now owns 7,043 shares of the bank’s stock worth $260,000 after acquiring an additional 400 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of First Financial during the 3rd quarter valued at about $279,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in First Financial during the third quarter valued at approximately $279,000. 72.74% of the stock is currently owned by hedge funds and other institutional investors.

First Financial Stock Down 1.7 %

Shares of THFF stock opened at $46.58 on Monday. The company’s fifty day moving average price is $47.43 and its 200-day moving average price is $43.66. First Financial Co. has a one year low of $34.58 and a one year high of $51.87. The company has a market capitalization of $550.02 million, a price-to-earnings ratio of 12.62 and a beta of 0.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.79 and a quick ratio of 0.79.

First Financial (NASDAQ:THFF) last released its earnings results on Tuesday, October 22nd. The bank reported $0.74 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.17). First Financial had a return on equity of 8.10% and a net margin of 14.86%. The company had revenue of $82.92 million during the quarter, compared to analysts’ expectations of $57.95 million. Sell-side analysts expect that First Financial Co. will post 3.92 EPS for the current fiscal year.

First Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 4.38%. This is a boost from First Financial’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, January 3rd. First Financial’s dividend payout ratio is 55.28%.

Wall Street Analysts Forecast Growth

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

About First Financial

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.