Keefe, Bruyette & Woods raises First Financial stock price target to $62

Investing.com - Keefe, Bruyette & Woods raised its price target on First Financial Corp. (NASDAQ:THFF) to $62.00 from $61.00 on Thursday, while maintaining a Market Perform rating on the stock.

The research firm cited First Financial’s strong quarterly performance, with earnings of $1.75 per share exceeding expectations due to better pre-provision net revenue (PPNR) and lower provision expenses. This performance contributes to First Financial’s basic EPS of $5.24 over the last twelve months.

First Financial’s margin expanded 10 basis points quarter-over-quarter, supported by loan growth for the eighth consecutive quarter, which represented the largest positive variance in the company’s financial results. This growth pattern has helped drive impressive revenue growth of 19.59% over the last twelve months.

The bank’s fee income benefited from stronger fees and charges, while expenses decreased slightly quarter-over-quarter due to lower compensation and other expenses. First Financial has demonstrated consistent shareholder returns, maintaining dividend payments for 43 consecutive years with a current dividend yield of 3.82%.

Keefe, Bruyette & Woods expects First Financial’s margin to increase further given the bank’s liability-sensitive position, which was identified as the primary driver behind the firm’s increased estimates.

In other recent news, First Financial Corporation announced that its board of directors has declared a quarterly dividend of $0.51 per share. This dividend will be payable on October 15, 2025, to shareholders who are recorded by October 1, 2025. The announcement provides investors with a predictable income stream, reflecting the company’s ongoing financial strategies. First Financial Corporation continues to operate across multiple states, including Indiana, Illinois, Kentucky, Tennessee, and Georgia. This development is part of the company’s commitment to returning value to its shareholders. The dividend declaration aligns with First Financial Corporation’s consistent financial performance and shareholder engagement strategy. Investors may view this as a sign of the company’s stable financial position.

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