First Financial Co. (NASDAQ:THFF) Raises Dividend to $0.51 Per Share

First Financial Co. (NASDAQ:THFF) declared a quarterly dividend on Thursday, December 19th,Wall Street Journal reports. Investors of record on Friday, January 3rd will be given a dividend of 0.51 per share by the bank on Wednesday, January 15th. This represents a $2.04 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, January 3rd. This is a boost from First Financial’s previous quarterly dividend of $0.45.

First Financial has increased its dividend payment by an average of 13.7% per year over the last three years. First Financial has a dividend payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Analysts expect First Financial to earn $5.18 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 34.7%.

First Financial Price Performance

THFF traded down $0.02 during trading on Thursday, reaching $45.98. 70,946 shares of the company were exchanged, compared to its average volume of 46,508. The company’s 50-day moving average is $47.00 and its two-hundred day moving average is $43.08. 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 has a 12-month low of $34.58 and a 12-month high of $51.87. The company has a market cap of $542.93 million, a price-to-earnings ratio of 12.46 and a beta of 0.50.

First Financial (NASDAQ:THFF) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.17). First Financial had a net margin of 14.86% and a return on equity of 8.10%. The company had revenue of $82.92 million for the quarter, compared to analysts’ expectations of $57.95 million. Research analysts forecast that First Financial will post 3.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Raymond James raised First Financial from a “market perform” rating to an “outperform” rating and set a $54.00 target price for the company in a research note on Thursday.

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.